P2P buy-to-let start-up Landbay raises £2.4m
London-based property technology company Landbay has raised £2.4m ($3.1m) from its latest crowdfunding round on the Seedrs platform, exceeding its target of £1.5m and bringing the total raised to date to around £7m. The buy-to-let mortgage lender uses peer-to-peer technology to fund loans, and enables people to make property-backed investments with as little as £100, whilst offering a simple fee structure and low interest rates on buy-to-let mortgages. The company claims to have loaned over £51m to date, with an expected return of 3.75% for investors.
Landbay, a buy-to-let mortgage lender that uses peer-to-peer technology to fund loans, has closed a £2.4m crowdfunding round.

The London-based PropTech/FinTech firm raised the funds via crowdfunding platform Seedrs, securing a total amount of £2,440,266.

This far exceeds the firm’s target amount of £1.5m and brings the total amount raised to date to around £7m.

“This was a bridge round funded by existing investors. The funds will enable us to continue to expand our operational capacity as we ramp up lending, as well as launch new mortgage and investment products,” said Gray Stern, co-founder and chief commercial officer at Landbay.

The firm, which currently employs 30 people, previously received investment from Zoopla, Omni Partners LLP and James Sore, who is chief investment officer at investment platform SyndicateRoom.

The Landbay platform enables people to make property-backed investments with as little as £100 while buy-to-let landlords can secure mortgages with a simple fee structure and low interest rate.

It claims to have loaned £51.87m to date across 275 mortgages and boasts an expected return of 3.75% for investors, although this is of course not guaranteed.