W&B advises NVM Private Equity on investment in Lending Works

Background

White & Black advises NVM Private Equity (NVM) on its initial investment in Lending Works Limited, including a further bridge round investment. NVM has over 30 years’ experience of investing in unquoted UK businesses. It manages over £250million of private equity funds and seeks investment opportunities in businesses which have the right mix of growth potential and market vision.

Stephen and the team at W&B provided great advice throughout; their knowledge of the technology sector coupled with their experience in deals of this nature was invaluable during the process.

Charlie Pidgeon
NVM Private Equity

Complications

NVM manages four funds (Northern Venture Trust plc, Northern 2 VCT plc, Northern 3 VCT plc and Northern Investors Company plc) all of which are listed on the London Stock Exchange. Their investments are in a range of sectors including Technology, Media and Telecommunications, Business Services, Healthcare and Consumer.

Lending Works is a peer to peer lending platform launched in early 2014 to provide UK customers with a safe, flexible and transparent way to lend and borrow money.  Protecting customers’ money is the company’s highest priority and Lending Works’ lenders are protected by the Lending Works Shield which includes a reserve fund held in a ring-fenced trust and an industry-first insurance against a range of risks affecting borrowers’ ability to repay loans.

The peer to peer lending sector has experienced very rapid growth in recent years as awareness and acceptance of the concept has increased.  Funds raised from NVM’s investment will be used to continue the growth trajectory of the Lending Works business through building additional loan distribution channels, growing the management team and through continued investment in the technology platform.

How we delivered value

This is another example of our credentials in this developing FinTech sector.  We were delighted to be able to advise NVM on this investment in one of the most exciting segments of the FinTech space.