Waterfall Asset Management LLC has invested £100 million in consumer-lending platform Lendable, according to a March 28 report from City A.M.

Lendable, based in the U.K., is a startup specializing in personal loans. The company has created an automated underwriting technology to offer instant decisions and transparent rates, according to the report.

"We believe that the Lendable team has built an advanced technology platform and has adopted a rigorous approach to consumer lending," James Cuby, a London-based managing director for Waterfall, told City A.M.