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Peer2Peer Finance News | November 21, 2017

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Lendy has repaid £100m to investors this year

Lendy has repaid £100m to investors this year
John Fitzsimons

LENDY has announced that it has returned £100m to investors over the last year alone, as it celebrates its fifth birthday this week.

The peer-to-peer property platform said on Thursday that this was a 120 per cent year-on-year increase and that it has now repaid £183m to investors since launch.

Read more: Lendy launches birthday prize draw with £5k top prize

Lendy recently announced the repayment of a £7.92m loan, one of the largest seen in the UK’s P2P sector to date. The facility had been repaid ahead of schedule and delivered annual returns of 12 per cent to investors.

Lendy reported a bumper rise in profits and revenues last year, alongside strong growth in both new users and value of loans. Pre-tax profits increased by 164 per cent to £2.74m in the 12 months to 31 December 2016, while turnover went up by 104 per cent over the same period to £27.5m.

“We continue to show that P2P lending can deliver investors reliable returns, and the amount repaid to our investors is increasing every year,” said Liam Brooke, co-founder of Lendy.

Read more: Lendy: Lack of bank funding has hit London housebuilding