The P2P platform’s secured lending model was authorised by the regulator following a detailed end-to-end assessment of its business and operating model.

Since launching in 2012, Lendy has facilitated over £400m of lending and has 21,500 registered investors.

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Lendy 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 at Lendy (pictured above), said it was very pleased to have been granted the authorisation.

“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.”