London fintech Selina Raises $150M to dish out Flexible Loans

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London fintech Selina Raises $150M to dish out Flexible Loans – 1; } /* Disable tracking if the opt-out cookie exists. */ if ( __gtagTrackerIsOptedOut() ) { window[disableStr] = true; } /* Opt-out function */ function __gtagTrackerOptout() { document.cookie = disableStr + ‘=true; expires=Thu, 31 Dec 2099 23:59:59 UTC; path=/’; window[disableStr] = true; } if ( ‘undefined’ === typeof gaOptout ) { function gaOptout() { __gtagTrackerOptout(); } } window.dataLayer = window.dataLayer || []; if ( mi_track_user ) { function __gtagTracker() {dataLayer.push( arguments );} __gtagTracker( ‘js’, new Date() ); __gtagTracker( ‘set’, { ‘developer_id.dZGIzZG’ : true, }); __gtagTracker( ‘config’, ‘UA-143077592-1’, { forceSSL:true, } ); window.gtag = __gtagTracker; ( function () { /* https://developers.google.com/analytics/devguides/collection/analyticsjs/ */ /* ga and __gaTracker compatibility shim. */ var noopfn = function () { return null; }; var newtracker = function () { return new Tracker(); }; var Tracker = function () { return null; }; var p = Tracker.prototype; p.get = noopfn; p.set = noopfn; p.send = function (){ var args = Array.prototype.slice.call(arguments); args.unshift( ‘send’ ); __gaTracker.apply(null, args); }; var __gaTracker = function () { var len = arguments.length; if ( len === 0 ) { return; } var f = arguments[len – 1]; if ( typeof f !== ‘object’ || f === null || typeof f.hitCallback !== ‘function’ ) { if ( ‘send’ === arguments[0] ) { var hitConverted, hitObject = false, action; if ( ‘event’ === arguments[1] ) { if ( ‘undefined’ !== typeof arguments[3] ) { hitObject = { ‘eventAction’: arguments[3], ‘eventCategory’: arguments[2], ‘eventLabel’: arguments[4], ‘value’: arguments[5] ? arguments[5] : 1, } } } if ( typeof arguments[2] === ‘object’ ) { hitObject = arguments[2]; } if ( typeof arguments[5] === ‘object’ ) { Object.assign( hitObject, arguments[5] ); } if ( ‘undefined’ !== typeof ( arguments[1].hitType ) ) { hitObject = arguments[1]; } if ( hitObject ) { action = ‘timing’ === arguments[1].hitType ? ‘timing_complete’ : hitObject.eventAction; hitConverted = mapArgs( hitObject ); __gtagTracker( ‘event’, action, hitConverted ); } } return; } function mapArgs( args ) { var gaKey, hit = {}; var gaMap = { ‘eventCategory’: ‘event_category’, ‘eventAction’: ‘event_action’, ‘eventLabel’: ‘event_label’, ‘eventValue’: ‘event_value’, ‘nonInteraction’: ‘non_interaction’, ‘timingCategory’: ‘event_category’, ‘timingVar’: ‘name’, ‘timingValue’: ‘value’, ‘timingLabel’: ‘event_label’, }; for ( gaKey in gaMap ) { if ( ‘undefined’ !== typeof args[gaKey] ) { hit[gaMap[gaKey]] = args[gaKey]; } } return hit; } try { f.hitCallback(); } catch ( ex ) { } }; __gaTracker.create = newtracker; __gaTracker.getByName = newtracker; __gaTracker.getAll = function () { return []; }; __gaTracker.remove = noopfn; __gaTracker.loaded = true; window[‘__gaTracker’] = __gaTracker; } )(); } else { console.log( “” ); ( function () { function __gtagTracker() { return null; } window[‘__gtagTracker’] = __gtagTracker; window[‘gtag’] = __gtagTracker; } )(); } ]]> London fintech called Selina, which provides flexible capital to consumers on five-year terms against up to 85% of the value of their homes — so-called Home Equity Line of Credit (HELOC) loans — is announcing $150 million in funding on the heels of making $100 million in loans out to homeowners.

The Series B equity portion of $35 million is being led by Lightrock, with previous backers Picus Capital and Global Founders Capital also participating.

(The latter two firms are tied in part to the Samwer brothers, who also built the Rocket Internet e-commerce incubator in Berlin.)

The remaining $115 million is coming in the form of debt from Goldman Sachs and GGC.

Hubert Fenwick, the CEO who co-founded the company with COO Leonard Benning, said Selina is not disclosing its valuation with this round, but a source said it is based on standard Series B dilution, which works out to around $140 million.

Selina plans to use the funding to continue expanding its business in the U.K. before considering how to tackle other markets in Europe, which Fenwick called “white space” because of how nascent the HELOC market is there; and to launch more products around its loans business, including a credit card that it will launch this year, which will draw down funds from a customer’s loan to make the funds more accessible.

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This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy. Selina, which provides flexible capital to consumers on five-year terms against up to 85% of the value of their homes u2014 so-called Home Equity Line of Credit (HELOC) loans u2014 is announcing $150 million in funding on the heels of making $100 million in loans out to homeowners.rnrn

The Series B equity portion of $35 million is being led by Lightrock, with previous backers Picus Capital and Global Founders Capital also participating. rn

(The latter two firms are tied in part to the Samwer brothers, who also built the Rocket Internet e-commerce incubator in Berlin.) rn

The remaining $115 million is coming in the form of debt from Goldman Sachs and GGC. rn

Selina plans to use the funding to continue expanding its business in the U.K. before considering how to tackle other markets in Europe, which Fenwick called u201cwhite spaceu201d because of how nascent the HELOC market is there; and to launch more products around its loans business, including a credit card that it will launch this year, which will draw down funds from a customeru2019s loan to make the funds more accessible.rnrnrn rn