LendInvest has closed a three-year strategic funding facility worth £42.5m with an undisclosed global alternative investment manager.
The capital will be used to refinance an existing BTL, residential mortgages, and short-term funding facility.
LendInvest’s other funders and investors include global institutions such as Citigroup, HSBC, JP Morgan, Lloyds Bank, and NAB.
To date, the lender has provided over £6bn of mortgages.
In the first three months of this year, the business almost doubled its number of BTL completions and saw a 96% uptick in BTL mortgage offers following the launch of its portal.
The news coincides with several board changes, with Penny Judd announcing her intention to step down from her role as independent NED and chair of the audit and risk committee in July.
Maeve Byrne – who has held key leadership positions at RBS and KPMG – has been appointed as Penny’s successor, and will also become a member of LendInvest’s nomination and remuneration committees.
Other independent NEDs Nina Spencer and Dale Murray have also notified their intention to not seek re-election by shareholders at the next AGM in September.
"I want to personally thank Penny, Nina, and Dale for their dedication and invaluable contributions to LendInvest during this crucial phase of change and growth over our first three years as a public company,” said Rod Lockhart, CEO at LendInvest (pictured above).
"Maeve brings a wealth of experience and deep insight that will be of significant value to the company as we continue on our path back to profitability."
Maeve commented: "I am delighted to join the LendInvest Board at such an important time for the company.
“I'm impressed by the management team and eager to bring my experience to help navigate the evolving financial landscape, guide LendInvest toward continued success, and help support the business in the next stage of its growth journey."
