UK fintech lender Lendable Ltd. raises £500 million (about $670 million) through the sale of securities backed by a portfolio of personal loans, according to multiple reports. The funding is intended to support the company’s plans to expand its lending activities. The transaction involves Lendable selling notes backed by a pool of unsecured consumer loans to private investors within the United Kingdom. Bloomberg reports the deal supports Lendable’s broader ambitions to push further into lending, while PYMNTS.com describes the financing as finalized on July 9, citing Bloomberg and referring to unnamed sources. Both accounts characterize the mechanism as an asset-backed structure where the repayment performance of the loan portfolio underpins the securities issued. The reports do not provide further details on the size of the loan portfolio, pricing, investor composition, or final maturity terms of the securities. Overall, the sources agree that the company is using securitization of personal loans to raise new capital for continued growth in consumer lending.
Lendable Raises £500 Million to Expand UK Personal Loan Lending
UK fintech lender Lendable Ltd. raises £500 million (about $670 million) through the sale of securities backed by a portfolio of personal loans, according to multiple reports. The funding is intended...
- Lendable Ltd., a UK digital lender, raises £500 million (about $670 million).
- The funding comes from selling securities backed by a portfolio of personal loans.
- The underlying loans are unsecured consumer loans made in the UK.
- The deal is described as supporting Lendable’s expansion of its personal lending business.
- One report says the transaction is finalized on July 9, citing Bloomberg sources.
U.K. digital lender Lendable finalized a deal Thursday (July 9) in which it will raise 500 million pounds (about $670 million) to support its effort to push further into lending, Bloomberg reported Thursday, citing unnamed sources. In the deal, Lendable will sell securities backed by a portfolio of unsecured consumer loans to private individuals in the U.K., according to […] The post Lendable Raises $670 Million to Fuel Personal Lending Expansion appeared first on PYMNTS.com.
1 month agoUK digital lender Lendable Ltd. is raising £500 million ($671 million) by selling securities backed by a portfolio of personal loans, a deal that would support its ambitions to push further into lending.
1 month ago
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