Landbay, the P2P lender who enables investors to invest in the UK buy-to-let mortgage market published a press release today announcing that they have received investment from FTSE 250 company Zoopla Property Group (ZPG):
In addition to the initial investment, the two proptech platforms will enter into a long term strategic partnership which is due to launch in the summer months.
ZPG, the digital media business that owns and operates some of the UK’s most widely recognised and trusted online brands including Zoopla, uSwitch and PrimeLocation has signalled a long term interest in Landbay by taking an equity stake in the business. Meanwhile, the new partnership signals Landbay’s intent to aggressively scale its retail customer base following the solid infrastructure it has put in place to become a scalable mortgage lending business. The partnership with ZPG will also help drive awareness of Landbay’s new Property-Secured ISA, launching later this year.
Landbay now completes more than £5 million mortages each month, positioning it as the UK’s fastest growing alternative finance business (source: Altfi).
In the press release
Alex Chesterman, Founder & CEO of Zoopla Property Group said, “We are delighted to announce our partnership with Landbay, one of the most innovative tech businesses in the UK property sector. Landbay has developed an exciting peer-to-peer lending proposition for residential property that allows consumers to invest from as little as £100. We are looking forward to working with them to bring residential property investing to the masses."