LENDINVEST NAMED MOST VALUABLE TECH COMPANY AT INVESTORS ALLSTARSDate: 2017-09-29
'Oscars of the start-up world' has an exciting new winner and they're looking to disrupt property finance.
This winner in LendInvest, an online marketplace platform for property lending and investing. The company was named the most valuable tech company at the prestigious Investors Allstars event in London on Wednesday evening this week.
This world event, often referred to as the Oscars for the world of entrepreneurs and investors, has been running for 15. The event gives awards for numerous categories within the start-up and technology spheres. It culminated in the selection of the Allstar company of the year.
The winner for this year, LendInvest, is one of the UK's largest non-bank mortgage lenders. The company is looking to disrupt the customer experience of "getting a mortgage" by leveraging technology to make mortgage applications faster and more simple.
The aim is to remove the need to go through traditional banks that tend to have slower systems and processes. Financing comes from both individuals and large institutions and is then invested in bridging and development finance as well as buy-to-let schemes.
So far, LendInvest investors have invested £1 billion (or $1.3 billion) in loans and have reported a 20% growth in revenue in the last year, having been profitable for the last four years.
"We will continue to grow by 50 percent a year and remain profitable in the future," said Christian Faes, Co-Founder and CEO. "The mortgage market is a particularly outdated part of the financial services market.
When asked about the impact of Brexit on the business outlook, Faes added that "while business slowed down shortly after the referendum we then went on to have our strongest quarter ever. As our investors are sophisticated, they are focused on the opportunity set. The currency weakening has also helped attract new investors on the platform."