https://techcrunch.com/2022/02/07/selina-raises-150m-to-dish-out-flexible-loans-that-leverage-home-equity/

For many of us, our home is by far our biggest asset, and in the world of fintech, that’s led to a logical extension: when you need money, borrow against that biggest asset. Today, a 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 it works out to around $140 million.