Zoopla Property Group invests in Landbay
Zoopla Property Group invests in Landbay
London, 16th February 2016 – Online peer-to-peer (P2P) mortgage lender Landbay today announces that it has received investment from FTSE 250 company Zoopla Property Group (ZPG). In addition, the two proptech platforms will enter into a long term strategic partnership which is due to launch in the summer months.
ZPG, the digital media business that owns and operates some of the UK’s most widely recognised and trusted online brands including Zoopla, uSwitch and PrimeLocation has signalled a long term interest in Landbay by taking an equity stake in the business. Meanwhile, the new partnership signals Landbay’s intent to aggressively scale its retail customer base following the solid infrastructure it has put in place to become a scalable mortgage lending business. The partnership with ZPG will also help drive awareness of Landbay’s new Property-Secured ISA, launching later this year.
Landbay now completes more than £5 million each month in new peer-to-peer mortgages, positioning it as the UK’s fastest growing alternative finance business (source: Altfi). The company is one of 8 members of the Peer-to-Peer Finance Association and the only peer-to-peer full member of the Council of Mortgage Lenders.
Landbay has previously raised approximately £3 million in private equity investment from both institutional and retail investors.
Alex Chesterman, Founder & CEO of Zoopla Property Group said, “We are delighted to announce our partnership with Landbay, one of the most innovative tech businesses in the UK property sector. 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.”
Landbay CEO John Goodall said, “ZPG’s investment kickstarts a long term relationship to develop our shared goal: to support consumer investment in homes. Residential property is historically the UK’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 we have removed the bureaucracy in mortgage lending, passing on a better return and experience for investors and borrowers alike. As the original pioneers in proptech, ZPG is the perfect partner to collaborate with us as we help consumers to prosper from the property market.”
Landbay’s fresh approach to transparency in investment and lending saw the platform pioneer publishing full loan books online – including borrower rates, as well as becoming the first platform to undergo Bank of England standard stress tests with fully published results.
Notes for Editors
Landbay is a peer-to-peer mortgage lender which maximises return for UK property investors. Since launching into the market, Landbay has challenged the way traditional banks and building societies lend by bringing borrowers and investors closer together. Landbay’s vision is to be the UK’s most innovative mortgage marketplace, providing a suite of products for customers to meet their goals of prospering from British homes.
Details of Landbay’s lending process can be found at https://landbay.co.uk/credit-and-compliance
Landbay is authorised and regulated by the FCA, but peer-to-peer lending is not covered by the FSCS. Investors’ capital is at risk.
Landbay is based in London (UK) and more information can be found at www.Landbay.co.uk
About Zoopla Property Group (www.zpg.co.uk)
Zoopla Property Group Plc (LSE:ZPLA) (ZPG) is a digital media and lead generation platform that owns and operates some of the UK’s most widely recognised and trusted digital consumer brands including Zoopla, uSwitch and PrimeLocation. Our mission is to be the most useful resource for consumers when finding, moving or managing their home and the most effective marketing channel for related business partners.
We help consumers make smarter decisions. Each of our brands has a distinct market position attracting a unique audience allowing us to deliver unrivalled exposure and leads for our partners. Our websites and mobile apps attract over 550 million visits per year and generate over four million leads per month for our partners.
Zoopla is the UK’s most comprehensive property website, empowering consumers to make smarter property decisions, by helping them to research the market and find their next home by combining hundreds of thousands of property listings with market data and local information.
uSwitch is the UK’s leading comparison website and lead generation engine for home services switching, helping consumers to find the best deal and save money on their gas, electricity, broadband, TV, phone and personal finance products. In 2014, uSwitch saved UK consumers over £112m on their energy bills alone.
PrimeLocation is one of the UK’s leading property websites, helping house-hunters in the middle and upper tiers of the market explore and find their dream home from the top estate and letting agents.
Zoopla Property Group Plc was founded in 2007 and has a highly-experienced management team, led by Founder & CEO, Alex Chesterman.