Assetz Capital hits £240m of lending in four years
ASSETZ Capital hit its fourth anniversary with £240m lent to date and a plan to double that figure over the next 12 months.
The peer-to-peer lending platform, which channels funds to small- and medium-sized enterprises (SMEs) and small property developers, confirmed on Friday that it has returned over £20m of interest to investors since inception, yielding rates ranging between 3.75 and 18 per cent to investors.
Thanks to a recent surge in borrower demand, it also launched a temporary rate hike offer on its 30-day account last week to 4.75 per cent for a 90-day window.
“Our intention from the start was to provide a solid funding platform for SMEs starved of the funds to see them flourish while at the same time offering fair returns to investors,” said the firm’s chief executive Stuart Law.
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“I believe that we have made serious inroads into helping businesses of all shapes and sizes with more than £240m of facilities provided to date and we expect to provide the same level of funding again in just the next 12 months, approaching half a billion of total lending by then.
“As the investment landscape has also changed during this period, P2P has become a much more widely accepted investment, its great to see that ordinary investors are lending their money via Assetz Capital.”