Sensible Lender Limited, a UK-based lending business, raised £7m in the first round of venture capital.
The round, scheduled for completion in 2016 at £17.8m, was led by Venture Capital Partners.
The company will use the funds to accelerate growth of its global peer-to-peer lending platform.
Launched in 2012 and led by Stuart Pearson, Managing Director, Sensible Lender uses proprietary underwriting and insight to match creditworthy property owners with lending capital sourced from private and institutional investors, family offices, and financial firms to fund loans.
The company, which plans to expand its business to regions beyond the UK, has more than 600 investors and over 140 borrowers from the United Kingdom with more than £32 million of bridging loans written with an average loan advance of £217,000 at an average LTV (Loan-To-Value) of 68.7%.
Sensible Lender has already closed on £16.4m in deals since January 2015, and has several properties under contract in Manchester, which it plans to close by the end of the year.
FinSMEs
16/11/2015