Mortgage marketplace lender Landbay closes sixth investment round on Seedrs

Landbay, the specialist mortgage marketplace lender, has today closed its sixth investment round on Seedrs.

Landbay has raised £6.5m in total since its inception and provided the opportunity for investors to participate via Seedrs in each funding round.

The London-based lender, whose backers include Zoopla, direct-matches retail and institutional investors’ funds into buy-to-let mortgages using peer-to-peer technology.

Landbay also recently surpassed £100m of mortgages funded to date with zero arrears.

Seedrs and Landbay first joined forces back in 2013, raising £71,590 at a pre-money valuation of £616,667.

Six funding rounds and 796 unique investors later, the company has raised £1.6m at a pre-money valuation of £28.9m in its latest funding round.

For those that invested in Landbay’s first round on Seedrs, their non-tax adjusted internal rate of return (IRR) on their investment is 77.83%, as of the 17th March 2018.

In addition, since Seedrs launched its Secondary Market in June 2017, allowing investors to buy and sell shares in businesses that have funded on Seedrs. Landbay has been the third most popular business in share transactions, with 54 share lots traded.

John Goodall, CEO at Landbay, said: “The fact that we have worked with Seedrs on every funding round since 2013 demonstrates our commitment to the crowd for their unwavering support.

“The first four years of the business have been spent building a strong foundation and the investment we have received through the platform has played a big part in this. Investment from this round will be used to continue to grow the business as we expect to become profitable by the end of 2018.”

Jeff Kelisky, CEO at Seedrs, added: “Landbay is a great example of the positive results possible with equity crowdfunding done properly, how instrumental it can be in the future of early stage businesses, and the positive returns it can generate for investors. It has been fantastic to support their journey and contribute to Landbay’s ongoing success.”