Landbay, a London-based low risk, secured peer-to-peer lending platform focused on the UK buy-to-let mortgage market, completed a £1.5m (approx. USD$2.35m) first institutional funding round.
This round was anchored by an investment partner introduced by the alternatives investment manager Omni Partners LLP. In addition, Omni has entered into a deal with Landbay to develop an online business partnership for its direct lending business.
The company intends to use the funds to continue to grow operations.
Led by John Goodall, CEO, and Gray Stern, Landbay is a peer to peer marketplace where loans are secured by British money. The company was recently appointed as the 9th member of the UK Peer to Peer Finance Association (P2PFA), alongside founding members Zopa, Ratesetter and Funding Circle.