The funds, which were raised from an investment partner introduced by Omni Partners, will be used to support Landbay’s growth.
The-peer-to-peer lender wants to grow its buy-to-let mortgage book to £1bn over the next four years.
John Goodall, co-founder and chief executive of Landbay, said: “Our new investors bring a wealth of experience and scale in the secured lending and mortgage space – it was very important to us that this round was strategic and the synergies that are created by our partnership with Omni will greatly assist our goal of building a £1bn buy-to-let mortgage book over the next four years.”
Last week Landbay was appointed as the ninth member of the UK Peer to Peer Finance Association.
John Jenkins, chief executive of capital bridging at Omni Partners, added: “Omni and its affiliates have built a successful and well- established alternative lending business.
“We are always looking to identify interesting developments within the alternative lending sector for our investment partners. Landbay is a highly credible player that stands out in a burgeoning market.
“We liked the clarity of their strategy and the quality and experience that the management team bring to this fast growing space. We are confident in their ability to grow a successful business.”
