, announced in their press release
on the 7th of July the conclusion of its Series A investment round, raising its target of £3 million. NVM Private Equity (NVM) invested £2m in early June 2016 to complete the round after earlier investments from an existing institutional shareholder.
The cash injection provides a timely boost for Lending Works, which is on the brink of launching its new Innovative Finance ISA (IFISA), so investors can look forward to tax free potential returns.
Nick Harding, founding CEO of Lending Works, commented:
“We’re delighted to announce the recent investment in our business by NVM Private Equity. They bring significant experience in key areas including business scalability, risk and business development and we consider their backing to be a ringing endorsement of our rapid progress as a company. This latest investment comes at an exciting time for Lending Works.
“We’re expecting to launch our new IFISA imminently, which will allow lenders to earn tax-free returns through our platform. Needless to say, it sets the foundations for continued growth which will be well supplemented - and driven - by this new investment.”
We at Fundshare would like to congratulate Lending Works in reaching their target, and also look forward to seeing the new products they are planning to introduce to investors.