Rod Lockhart, CEO, heralded the milestone as a “huge achievement" and said housing market "remains favourable".
LendInvest says it took just 30 months to double its assets under management to £2bn – at least four times quicker than it took to hit the £1bn mark.
The London-listed alternative lender passed £2bn assets under management in January this year.
Rod Lockhart, CEO, heralded it a “huge achievement”.
As of March 31, assets under management, which represent deployed capital, stood at £2.14bn, a year-on-year growth of 36 per cent.
It said this was fuelled by “strong demand” for its Buy-to-Let offering.
Funds under management, which represent committed and deployed capital, stood at £2.94bn as of March 31, an increase of 18 per cent on the year.
LendInvest has seen its funds under management rise thanks to a number of high profile deals with banks and asset managers.
On Funds Under Management, it said that £800m of headroom supports its growth trajectory in the medium term and that it expected to complete several transactions in the first half of the current financial year.
Other highlights in its trading update, said LendInvest, were that its EPiC “green mortgage products” had led to a 29 per cent uplift in Buy-to-Let applications.
Lockhart said: “We have continued to achieve strong growth in Platform AuM and FuM, driven by the success of our innovative, proprietary technology and strong demand for our Buy-to-Let products. It was a huge achievement to pass the £2 billion Platform AuM milestone in January.
“It took more than 10 years to reach £1 billion of Platform AuM in July 2019 and only 30 months to double it."
Looking forward, LendInvest said that housing market conditions “remain favourable” despite the recent base rate rise.
This was being driven by strong demand for housing and a shortage of properties for sale, it said.
LendInvest said that despite an increasingly inflationary environment it expects full-year profit before tax to be in line with market expectations.
LendInvest listed in a long-awaited IPO on the London Stock Exchange in July last year.
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