Lendable raises £210M funding round to accelerate growth

  • Balderton

The round was led by Ontario Teachers’ Pension Plan and values Lendable at £3.5bn.

Lendable was founded in 2014 on the belief that getting a loan shouldn’t be a complicated or lengthy process in the digital age.The team built a platform that harnesses technology and data in order to make personal finance hassle-free and customer-friendly. There’s no need to fill in lengthy forms, deal with paper-based applications, wait days for a decision by the lender, queue in a branch, or get stuck in hold loops on overburdened customer service hotlines. 

We are delighted with Lendable’s raise and the addition of OTPP to the shareholder base. The company, which is long profitable, is a best in class example of power of data and analytics applied to financial services to result in better outcomes for consumers.

Rana Yared General Partner, Balderton

The new funds will help the company to accelerate growth both in its existing markets and in the US, where it opened an office last year. Lendable will also look to add new products in areas like “buy now, pay later” and expand in new markets.

Read more about the fundraise: 

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