LendInvest Ltd. obtained £150 million of initial funding to further expand and offer residential development financing in the U.K.
The cash injection into the online property lending and investing platform comes from Japanese financial group Nomura and alternative investment manager Magnetar. The deal takes the company's total capital for lending to roughly £1 billion.
LendInvest's platform offers development loans for small-scale real estate projects, as well as for experienced residential developers for periods of up to 30 months. It also provides bridging and buy-to-let finance services, according to a release.
The company's investors have financed over £1.5 billion of loans to-date, which were used for the acquisition, development or revamp of over 5,000 homes in the U.K.