National Australia Bank Injects $242M Into UK Fintech Co.

Law360 (August 12, 2019, 2:56 PM EDT) -- U.K.-based property finance company LendInvest said Monday it received a £200 million ($241.5 million) investment from National Australia Bank.

The financial technology company has now raised over £1.8 billion in debt and equity, and plans to use the latest injection to expand its buy-to-let mortgage products, the announcement said. A buy-to-let mortgage is a mortgage loan for prospective buyers who plan to rent the property to tenants.

LendInvest has already lent more than £370 million in the buy-to-let market and was the first fintech company to take those transactions entirely online, according to its website. It also became the first U.K....

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