Today, 16th February 2016, we are pleased to announce that Landbay has received investment from FTSE 250 company Zoopla Property Group (ZPG). In addition, we will enter into a long term strategic partnership with Zoopla. More details of the partnership will follow over the coming months and it is due to launch over the summer.
ZPG is the owner of leading property related sites uSwitch and Prime Location and has shown its long term interest in Landbay by taking an equity stake in our business. Meanwhile, the new partnership will help us to scale our retail customer base following the solid infrastructure we have put in place to become a scalable mortgage lending business.
Commenting on their equity investment and our forthcoming partnership, Alex Chesterman, Zoopla’s founder & CEO said, “We are delighted to announce our partnership with Landbay, one of the most innovative tech businesses in the UK property sector. Our mission is to be the most useful resource in the UK property market and 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.“
Zoopla’s investment in Landbay is the beginning of a long term relationship to develop the goal we share: to support consumer investment in homes. Residential property is our nation’s best loved asset class and we are looking forward to leveraging our partnership with Zoopla to democratise investment in the sector.
Since our inception Landbay has sought to remove the old guard bureaucracy in mortgage lending, passing on a better return and experience for investors and borrowers alike. As the original pioneers in proptech, Zoopla is the perfect partner to collaborate with us as we continue to help consumers to prosper from the property market.
Here at Landbay we now complete more than £5 million mortgages each month, positioning us as the UK’s fastest growing alternative finance business (source: Altfi). We are also one of 8 members of the Peer-to-Peer Finance Association and the only full peer-to-peer member of the Council of Mortgage Lenders.