Lendable raises $670m for global expansion

Lendable, a London-based consumer lender, said it has secured $670 million in financing to support its international expansion and increase lending activity. The company described the package as fresh lending capital and resources to grow loan originations and back partnerships with banks and digital distributors across multiple regions.

The funds will be used to scale on-balance-sheet lending, back structured transactions and support potential securitisations, the company said. Lendable expects the additional liquidity to ease constraints on originations and to support larger, longer-term credit programmes that require stable funding lines.

Management said part of the capital will finance product rollouts and additions to technology and compliance teams as the firm expands beyond its current footprint. The lender plans targeted investments in underwriting models and its platform infrastructure to speed credit decisioning and improve the customer experience in new markets.

Company statements also indicate the funding will support strategic partnerships with banks, fintech platforms and institutional investors to distribute credit products more widely. Lendable plans to hire across product, engineering and risk to support those partnerships and to meet regulatory requirements in jurisdictions it enters.

The broader market for digital consumer credit has expanded as online distribution and alternative data have enabled faster underwriting and loan delivery. In recent years, many fintech lenders have increased originations by using securitisations or securing committed credit lines; Lendable’s financing provides flexibility to pursue both balance-sheet lending and third-party distribution channels.

Founded as a specialist consumer lending platform, Lendable uses automated underwriting to offer unsecured personal loans and point-of-sale credit. The firm has operated in several European markets and previously worked with institutional investors to securitise portions of its loan book. Company representatives said the current financing is intended to convert those investor relationships into a larger, more permanent funding base as it grows internationally.

The lender did not disclose the full list of investors or the exact split between debt and equity in the $670 million package.