Lendable, a leading AI-powered consumer finance platform, has raised £210m in a funding round that saw its valuation reach £3.5bn.
The round was led by the Ontario Teachers’ Pension Plan Board (Ontario Teachers’), through its Teachers’ Innovation Platform (TIP). TIP focuses on late-stage venture and growth equity investments in cutting-edge technology companies led by mission-driven entrepreneurs.
Founded in 2014, Lendable said its vision is to use technology to make consumer finance work better for its customers. The company applies AI and automation to enhance underwriting, and offer customers better rates, transparency and service, while offering institutional investors ranging from global banks to family offices access to the asset class.
Lendable said the capital will support it in developing new products and drive the company’s ambitions for international growth.
Martin Kissinger, founder and CEO of Lendable, said, “We are excited to partner with TIP as we accelerate our expansion across products and markets. Our DNA from day one has been to bring transparency and fairness to consumer finance, and we are proud of the fantastic feedback we consistently receive from our customers.”
Copyright © 2022 FinTech Global