Property finance disrupter LendInvest grew its platform assets under management by 33% in H1 2022.
The London-listed plc is a non-bank mortgage lender in the UK and also provides a property lending and investing platform.
As an alternative FinTech lender in the property market, LendInvest provides finance to property professionals and small- and medium-sized businesses around the UK.
For the six months ended 30th September 2022, it saw deployed capital rise to £2.43 billion, up more than a third year-on-year.
Funds under management – committed and deployed capital – was up 20% to £3.4bn.
“We currently have more than £950 million of lending headroom to support our growth trajectory in the medium term,” read a company statement to the London Stock Exchange.
In September the London firm opened an office in Glasgow, Scotland and joined industry body Fintech Scotland as part of its commitment north of the border.
It also expanded the size of student lets that it supports around major Scottish universities as well as enabling access to funding for more landlords.
“The UK property finance market is ripe for disruption and our performance over the last six months reflects the attractiveness of our differentiated technology-driven platform for borrowers and funding partners alike,” said CEO Rod Lockhart.
“We grew across all lending products in the first half of the year, particularly in buy-to-let, but also in bridging and development which benefited from our innovative new broker portal. We remain on track to launch our specialist homeowner product later this year.
“Looking ahead, we are acutely aware of the disruption in the UK mortgage market, which is affecting confidence and for the moment, applications for new mortgages have slowed across the market.
“Recent market dislocation has demonstrated the flexibility and speed to market capability of our platform. This provides us with a competitive edge, flexibility, and proven risk management capabilities, which in addition to the size of our addressable markets and our strong financial position, gives us confidence in our long-term prospects.”