LendInvest has reported that its total loan originations were up by 91% to £536 million for the year ending 31 March 2018.
Revenue increased to £53 million and profit before tax was £1.9 million. In addition, lending capital grew 94% to £791m.
Meanwhile, total homes funded grew 229% to 2109. It also listed the first tranche of a £500m retail bond programme on the London Stock Exchange which was oversubscribed and closed early; £90 million raised to date.
Today, LendInvest manages over £820 million on behalf of all types of investors who have lent almost £1.4 billion of mortgage finance throughout the UK.
Christian Faes (pictured), co-founder and CEO of LendInvest, said: “As LendInvest continues to move towards the mainstream mortgage market, we are showing that the investment we’ve made in our proprietary technology is providing an unrivalled platform for growth.
“As we move into the buy-to-let market, we’ve been able to leverage our brand within the specialist mortgage market, our distribution channels, and most importantly our technology, all of which give us a substantial edge. We have lent more buy-to-let finance in the first few months since launch than we did during our first full four years in business.
“LendInvest is proving that you can be a fintech business that makes a substantial investment in building technology, uses that as a competitive advantage, and all the while builds a scalable and profitable business. We almost doubled the size of the business last year, with only a relatively negligible increase in our headcount, and importantly remaining profitable which we’ve consistently done for the last four years.
“As a modern financial services business, we feel we have a responsibility to our customers and investors to lift the lid on the health of our company regularly. Our annual reports give anyone the chance to look under the bonnet of what we’re building and judge for themselves how well we live up to our reputation as a fintech leader.”
