BLEND Network

BLEND Network completes £10m funding round

BLEND Network has secured £10m through a late-seed round of financing.

The P2P property lending platform – which launched in January 2018 – said that the round saw a combination of equity to scale the business and commitments to lend on the platform.

This was supported by numerous investors including Cyrus Ardalan, former vice-chair of Barclays and current chair of OakNorth Bank and Citigroup Global Markets; the family office of Publicis Group chairman Maurice Levy; and Jean-Phillipe Blochet, co-founder of hedge fund Brevan Howard.

This investment will help BLEND Network aggressively grow its deal underwriting and marketing efforts, as well as broaden and accelerate product development.

Yann Murciano, chief executive at BLEND Network (pictured above, right), said that it was very excited to get the support from such high-profile investors.

“Each of our new investors brings a lot of experience to the table.

“This year, we have proven the model.

“Next year, it’s all about scaling it while maintaining the high level of enhanced due diligence for which we pride ourselves.”

Cyrus added: “BLEND Network takes peer-to-peer lending to a new level, providing investors with a highly transparent and innovative platform.”

Roxana Mohammadian-Molina, chief strategy officer at BLEND Network (left), stated: “We are thrilled to have a strong core group of investors who have each been highly successful individually and believe in our product offering.

“They believe in the model and they believe in the management.

“This helps generate trust in what we are building at BLEND Network.”

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