LendInvest has received the highest rating from a European credit agency for the second consecutive year.
ARC Ratings renewed its SQ1 Servicer Quality Rating for LendInvest following an annual review and re-evaluation. The rating assesses and rates the process used by LendInvest to originate, underwrite and service high-quality property loans.
The rating is based on a number of key factors including corporate governance, internal controls, due diligence, data disaster mitigation, management’s experience and the financial health of the company.
On its decision to affirm LendInvest’s SQ1 rating, ARC Ratings said: “Over the past 12 months, LendInvest have turned their second operating profit (£3.1 million), secured £39 million worth of [equity] investment from two institutional investors, established themselves as the largest online property marketplace in the UK, invested substantially in expanding their workforce to match the growth of the business, brought in a new, vastly experienced, head of credit to add a new level of depth and rigour to LendInvest’s underwriting process in addition to expanding and investing in the IT team in order to keep themselves at the forefront of ‘FinTech’ developments.”
LendInvest became the first marketplace lending business to receive a European rating from a credit rating agency in June 2015.
Christian Faes, co-founder and CEO of LendInvest, said: “Lending money is easy; lending it well requires discipline, focus and years of experience. Without an exceptional underwriting and loan servicing infrastructure, LendInvest would not be the fast-growing, profitable and well-capitalised business it has become.
“It is hugely gratifying to receive a second top rating from ARC Ratings. It acknowledges the hard work we have put in to develop market-leading underwriting and servicing standards.”
