LendInvest signs partnership with HSBC and Barclays worth £150m
Property lending firm LendInvest has secured a £150 million partnership with two major UK banks a few weeks after its IPO.
LendInvest operates funds under management worth £2.7 billion
Barclays and HSBC have signed up to a collaboration with LendInvest, though the latter already had an existing partnership with the firm.
LendInvest uses funds from high-net-worth individuals (HNWIs) and institutions to offer short-term buy-to-let and development mortgages to the property sector.
The firm says its funds under management stand at £2.7 billion, a dramatic rise from £375 million in 2017.
It has received significant backing from institutions from around the world, worth more than £2 billion in total.
Among its backers are JP Morgan and National Australia Bank, providing £500 million and £272 million in debt financing respectively.
In 2019, it received backing to the tune of £200 million from HSBC, supporting the launch of its first products.
