LendInvest, a UK-based online property finance marketplace backed by gaming and internet company Beijing Kunlun, received £17m ($24.3m) in equity funding from venture capital firm Atomico yesterday.
Founded in 2013, LendInvest operates a property finance platform that aims to bring the speed and efficiency associated with online lending to the mortgage market. It has so far lent about £560m to finance the purchase of some 2,100 properties in the UK.
The investment follows £22m of equity funding from Kunlun in June 2015. The company has now raised more than £200m in total debt and equity financing.
LendInvest will use the latest capital to strengthen its technology base. It plans to shortly hire its first senior vice-president of engineering as part of a drive to expand its technology and product teams.
Christian Faes, co-founder & CEO of LendInvest, said: “We have only scratched the surface of how technology will make mortgages a better, faster and more transparent consumer experience for borrowers and investors.”