Lendy, which launched in 2012 and has to date facilitated over £400m in lending, has 21,500 registered investors and will continue with its existing investments, but through the new mandate will look to innovate new products and services in line with its full FCA permissions.

Liam Brooke, CEO of Lendy said: “We’re very pleased to have been given full authorisation by the FCA. It has been a long and sometimes challenging journey, which has involved a detailed review of our processes and policies and has helped us mature into a stronger and more robust business. This is a validation of our efforts to move from a young start-up to an established mainstream lender, with the ability to disrupt the banking model for the benefit of clients, and design new investment products and services.”

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