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Peer2Peer Finance News | October 17, 2017

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Lendy launches birthday prize draw with £5k top prize

Lendy launches birthday prize draw with £5k top prize
John Fitzsimons

PROPERTY peer-to-peer platform Lendy is celebrating its fifth birthday by giving away £5,000 to one lucky investor.

To qualify for the prize draw, investors need to have successfully lent at least £5,000 through Lendy for a minimum of three months. Entries close on 9 November 2017.

Read more: Lendy announces completion of largest P2P loan to date

A winner will then be drawn out of a hat, while there is also a second prize of a £500 investment top up. Another 15 investors will win a prize of an M&S voucher of £25-£50.

Lendy started out lending against secured marine assets back in 2012, before moving into property loans with bridging and development finance. In its five years in business, the firm says it has lent out around £335m via its community of 17,600 investors.

This year alone it claims to have added 6,500 new users and recorded £90m in inflows, with interest rates of up to 12 per cent on offer to investors.

Read more: Lendy – The Property Platform: Five years young and counting

In September the firm published its results for 2016, revealing a bumper jump in revenues and profits. Pre-tax profits jumped 164 per cent in the 12 months to 31 December 2016, with turnover reaching £27.5m, an increase of 104 per cent, over the same period.