Leading property finance platform LendInvest (LSE: LINV) has acheived £2 billion in assets under management (AUM). LendInvest noted that had reached £1 billion of AUM in 2019 – ten years from its launch. This newest mileston is indicative of platform growth.
LendInvest said that strong demand for its Buy-to-Let assets and the launch of innovative products including its EPiC product for green properties and 7-Year fixed-rate loan has helped to fuel demand. The Fintech added that it is on track for its 8th year of profitable growth just as it enters the specialist homeowner segment in the next financial year
Rod Lockhart, LendInvest Chief Executive Officer, commented:
“LendInvest was founded in 2008 to make property finance simple; we were immensely proud to have grown our AuM through the decade to £1bn in July 2019. Doubling this milestone to £2bn only two and a half years later demonstrates the strength and scalability of our technology platform and proposition, and the structural drivers underpinning the UK property finance sector. The traditional mortgage application process is lengthy and reliant on rigid paper based processes. We’re changing that and bringing simple, cloud-based property finance solutions to more investors and borrowers across the UK via our platform.”
LendInvest became a publicly-traded company in July of 2o21 listed on the AIM market.
Last December, LendInvest reported 6-month results ending in September 2021 with a profit before tax of £10.2 million versus a loss during the same period year prior of £200,000.