LendInvest secures £500 million investment from J.P. Morgan

By Megha Bhattacharya

UK-based LendInvest has announced £500 million investment from J.P. Morgan, thus kicking off a funding partnership with the latter. The funding will finance the UK FinTech’s Buy-to-Let product, expanding its capacity to lend in the BTL market.

Rod Lockhart, Chief Executive Officer at LendInvest, commented, “This transaction is yet another example of the growing interest from large global institutions in UK FinTech, and importantly, another milestone for LendInvest.

“Working with J.P. Morgan puts us in a stronger position than ever to serve our customers in what will come to be a hugely important year for the industry. We look forward to collaborating with the team there as we continue to tailor our unique offering for landlords in an ever-changing environment.”

J.P. Morgan joins a growing roster of global financial institutions and institutional investors working with LendInvest, including HSBC, Citigroup and the National Australia Bank. In 2019, the company secured a £200 million investment from the National Bank of Australia.

Eric Wragge, Managing Director in Securitised Products at J.P. Morgan, added, “There’s a huge amount of innovation going on in the UK FinTech space, which is taking place both in spite of and in response to, the broader context of the COVID-19 pandemic. LendInvest is an exciting business with ambitious plans for the future, and our Securitised Products team has been pleased to work with them to provide capacity for over half a billion pounds of new mortgage lending.”

Established in 2008, LendInvest provides an end-to-end online platform with an aim to minimize the drawbacks of the mortgage industry by providing them with the ability to make quick decisions, better turnaround and enhanced customer experience.