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.
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Lendable strikes deal with Goldman
“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.
