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UK based provider of machine-learning technology to automate credit underwriting and offer personal loans has struck a £200m deal with Goldman Sachs in which Goldman has agreed to buy loans originated by Lendable.
“The recent funding partnerships show investors backing Lendable’s platform and approach to UK consumer credit. Investors are not taking on two-month transactions but taking a much longer-term view on the relationship and wider macro credit backdrop,” [Rory McHugh, Lendable’s chief capital officer] said. Lendable has distributed more than £650m in loans to UK consumers to date, and has roughly £400m in outstanding loans. This year it forecasts advancing £500m in loans.
https://www.ft.com/content/b21c13f0-a709-11e9-984c-fac8325aaa04
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