UK mortgage lender LendInvest has recieved £200mn in funding from the National Australia Bank (NAB).
In brief:
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The firm is now one of the largest non-bank mortgage lenders in the UK.
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The funding will be used to expand the company’s capacity to lend in the UK’s buy-to-let market.
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NAB joins other notable investors including HSBC and Citigroup.
What does this mean?
It’s a positive sign to see another big name invest in the UK FinTech, which securitised its assets in June this year, gaining a rating of AAA from Moody’s and Fitch. According to CEO Christian Faes, the firm is “just getting started”.
