Shares in LendInvest rose 4.25% on its first morning as a listed company.

Under the ticker LINV on the London Stock Exchange’s Alternative Investment Market (AIM), shares in the firm at the time of writing amounted to 208.5p.

The initial offer price was set at 186p per share, making for a total market capitalisation on admission of £255.6m.

LendInvest says that the proceeds from its initial public offering (IPO), from which it planned to raise £40m, will be invested into its technology and new product areas.

Chief executive Rod Lockhart comments: “Listing in London today is the next landmark in our growth journey.

“I’d like to thank each and every member of the team at LendInvest who made this incredible achievement possible.

“We are hugely excited about the future… The capital that we have raised through this IPO will enable us to accelerate our technology roadmap, expand into new areas of property finance, and attract new investors, brokers and borrowers to our platform.

“We’re delighted to welcome a great group of investors today, and we look forward to delivering for them on the next stage of our journey.

“We set out to make property finance simple, and today’s IPO is an important milestone in our journey towards achieving that goal.”