Specialist mortgage marketplace lender Landbay today announces it is opening its latest equity funding round to new investors through the Seedrs platform.
The capital raised in this fundraising round will allow further investment in Landbay’s technology platform and distribution capability, helping it to further modernise its mortgage funding in what is now a more innovative and exciting financial space than ever.
The round, which has already funded its target of £1.25m from existing and new investors, comes on the back of Landbay recently surpassing lending volumes of £100m, with over 25% of these having originated in the last three months. In March 2018 Landbay had its record month for both mortgage completions and applications, and thanks to this significant growth in revenue and gross profit the company expects to hit profitability in Q4 2018.
Landbay direct-matches retail and institutional funds into buy to let mortgages via its peer-to-peer investment technology. For borrowers, advanced, modular technology and a tailored approach to underwriting allows Landbay to provide the fastest turnaround and best service of any specialist buy to let lender, whilst its platform gives retail and institutional investors access to the burgeoning buy to let mortgage market. Retail investors are offered the chance to lend via an Innovative Finance ISA or classic peer-to-peer investment.
John Goodall, CEO and founder of Landbay said: “It is only natural and right to open this equity round up to retail investors, inspiring people to see the possibilities in property investment. Over the past 18 months the business has matured significantly and we now have the mortgage funding, intermediary partners, technology and capacity in place to support the continued expansion of the company. Our sights are now set on becoming a publicly listed company in the future.
“Seedrs is a pioneer in regulated equity investment, and the benefits it brings to retail investors through fast growth companies like Landbay is vast. We have had a long relationship with the company and value the shareholder protections it gives to retail investors via its nominee structure.”