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.

Read more: RateSetter targets growth in SME lending

“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.”

Read more: SMEs funding appetite surges after Spring Budget