Lendi taps investors in fresh capital raising call

Online mortgage broker Lendi, which is backed by investors including Macquarie Group, has completed its latest round of capital raising.

Street Talk understands Lendi last month ruled off a $25 million capital raise which was oversubscribed and supported by some existing shareholders, sophisticated investors and a number of blue-chip Australian institutions. The company is seeking to take a bigger slice of the local mortgage market after accounting for about 1 per cent last year.

Lendi is 40 per cent owned by founders and employees and its big name minority shareholders include Bailador, Macquarie Group and several sophisticated investors.

Early investors included CrownBet boss Matthew Tripp. Although it is unclear if he remains on the register.

​This is the latest fund raising effort by Lendi. In earlier rounds, the company raised $3.1 million from high net worth investors to scale the business nationally and in 2014 secured a further $6 million.

The company developed an online application process which it claims provides a “faster and simpler” way of getting a home loan. It now has 200 team members across four offices.

To read more, please click on the link below…

Source: Lendi taps investors in fresh capital raising call | afr.com