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What a debut securitisation tells us about fintech

Summary:
Today, Lendinvest, a company which makes property loans over the internet, launched its first securitisation. It is the latest of a handful of securitisations from the UK’s fintech sector. Zopa, the peer-to-peer consumer lending, and Funding Circle, have also done something similar. In the US, as usual, there has been more, and bigger, deals.The £259m Lendinvest securitisation is backed by buy-to-let loans. It’s worth briefly going into its model, because it illustrates the basic point of fintech: it’s not so much about new things, as the absence of old things, plus securitisation.The company makes its buy-to-let loans over an internet platform. The system works through the UK’s extensive broker system (the brokers fill most of the applications on behalf of prospective borrowers).Having

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Today, Lendinvest, a company which makes property loans over the internet, launched its first...

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