Back to Markets
Commodities● Neutral
Lendable Raises $670M in Securitization Push for US Expansion
UK lender Lendable raised $670M through a securitization of personal loans, fueling its US expansion after profits doubled to $155M. The deal shows a shift from bank lending to capital markets.
Continue with
Lendable, the UK digital lender, raised £500 million ($670 million) by selling securities backed by a portfolio of unsecured consumer loans, Bloomberg reported Thursday, citing unnamed sources. The deal is designed to fund the company's push into the US market.
Lendable is the largest issuer of personal loans in the UK, having originated more than £10 billion (about $13.4 billion) in consumer credit assets since its 2014 launch, the company said. Its platform lets users apply for and manage loans entirely online, bypassing paper applications, bank branches, and customer service hotlines.
The capital raise comes after Lendable doubled its profit in 2025. Net income jumped 120% to $155 million, while revenue rose 90% to $608 million. The company also issued the second-largest number of new credit cards in the UK, trailing only the biggest banks.
Co-founder Martin Kissinger told the Financial Times in May: “There are millions of people who use credit and most of that is done by big banks, and they do not do as good of a job as can be done. So we set out to build a tech company that would do it better.”