Last checked at 24 Jan 2022 07:00
24 January 2022
LendInvest PLC
LendInvest reaches £2 billion AuM milestone driven by strong demand for its tech-enabled property finance proposition
LendInvest, the UK's leading technology driven asset manager for property finance, is pleased to announce it has reached £2 billion Assets Under Management as of 17 January 2022.
- LendInvest achieved £1 billion AuM in July 2019 after more than ten years of growth
- Two and a half years later it has doubled this figure to £2bn driven by the success of our technology offering and strong demand for its Buy-to-Let assets and the launch of innovative products including its EPiC range for green properties and 7-Year fixed rate loan
- LendInvest is on track for its 8th consecutive year of profitable growth from operations and remains poised to capture an increasing share of the property finance market in years to come as it enters the specialist homeowner segment in the next financial year
Commenting on the milestone, Rod Lockhart, Chief Executive Officer said: "LendInvest was founded in 2008 to make property finance simple; we were immensely proud to have grown our AuM through the decade to £1bn in July 2019. Doubling this milestone to £2bn only two and a half years later demonstrates the strength and scalability of our technology platform and proposition, and the structural drivers underpinning the UK property finance sector.
The traditional mortgage application process is lengthy and reliant on rigid paper based processes. We're changing that and bringing simple, cloud-based property finance solutions to more investors and borrowers across the UK via our platform."
LendInvest's AuM growth has been propelled by demand for its Buy-to-Let products, first launching in December 2017. Following the completion of its successful IPO in July 2021, LendInvest has continued to disrupt the market with the launch of its 7-year fixed rate loan providing landlords with certainty of funding costs over a longer period of time, and its EPiC range to incentivise landlords to increase the environmental efficiency of their properties.
In December, the Company announced that in the 6 month period ended 30 September 2021, platform revenue increased 28% to £72.4 million, gross profit increased 51% to £26.5 million and EBITDA increased 179% to £13.4m.
Enquiries:
LendInvest via Tulchan Communications
Rod Lockhart, Chief Executive Officer +44 20 7353 4200
Michael Evans, Chief Financial Officer
Leigh Rimmer, Senior PR Manager
investorrelations@lendinvest.com
Tulchan Communications (Financial PR) +44 20 7353 4200
Tom Murray
Matt Low
Misha Bayliss
Olivia Lucas