LendInvest posts 133% revenue jump

LendInvest posts 133% revenue jump

LendInvest has reported a 133% growth in revenue over the past year.

The property lender saw gross revenues hit £32m for the year ending 31st March 2016, up from £14m for the previous year.

Total annual lending also rose by 84%, climbing from £174m last year to £320m during 2016.

Christian Faes, co-founder and CEO of LendInvest, said: At LendInvest we’ve worked very hard to create a marketplace business that provides a great proposition for borrowers and a good investment for investors.

“These financial results clearly spell out that LendInvest is a fintech company that’s built on solid foundations, is financially stable, and is going to be around for the long haul.”

The firm also posted profit of £3.4m, up from last year’s £3.3m.

In addition to its financial growth, LendInvest reported a 165% increase in the number of employees and now has 90 full-time staff.

Among the new additions was Stephan Wilcke, former executive chairman of OneSavings Bank, who serves as senior adviser.

LendInvest also launched a new dedicated development finance team that underwrote 14 deals in its first four months of operation to year-end.

Meanwhile, the firm secured further committed institutional funding and now operates four bank funding lines.

These include a £40m warehouse line from Macquarie.

LendInvest also reported a strong start to its 2017 financial year, with incoming platform investment and total lending volumes rising 50% and 29% respectively in the three months since the EU referendum.

“In light of the headwinds that the Brexit vote has caused for the UK’s economy, it’s been particularly rewarding to see customer demand for our products still growing and we look forward to building on this positive momentum in the next year,” Christian added.

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