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Payments General

Lendable lands GBP 200 mln Goldman Sachs funding line

Tuesday 16 July 2019 | 11:16 AM CET

Lendable has secured a GBP 200 mln funding line from Goldman Sachs Private Capital as the consumer lender continues to attract institutional finance.

The UK-based consumer lending platform landed the forward flow funding transaction from the New York investment bank, to continue to fund online loans to consumers in minutes using machine learning technology.

In June 2019, Lendable secured funding arrangements worth GBP 500 million from new and existing backers. The capital came from existing investor Waterfall Asset Management, along with NatWest Markets and Varadero European Special Opportunities, who are providing cash to Lendable for the first time. It said at the time would launch a GBP 150 million closed-end fund over the summer, working with a currently unnamed global investment bank that will provide senior financing.

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