UK based Lendable raised $400mn to continue lending to UK consumers amid concerns over growing household debt; the capital infusion comes from Castle Trust who is backed by the US private equity shop JC Flowers; this is the second big deal for Lendable in 2017 as they were able to secure over $130mn from Waterfall Asset management in March. Source.
Lendable provides consumer loans from high net worth and institutional investors; says the new investment is an important milestone for the firm and will help support its next phase of growth; according to Martin Kissinger, Founder and Chief Executive of Lendable, "This investment affirms our strong track record and operational excellence, and helps us reach the next level of scale." Source
Martin Kissinger, the founder of Lendable is just 28 years old; he has built Lendable into a successful business that has lent £80 mn to 20,000 borrowers; the company had a growth rate of 430% in the last year and provides funds to borrowers in as little as two hours; article profiles Kissinger’s past work experience and more about Lendable. Source