LENDY is launching two cashback offers for new and existing investors, as it looks to maintain its strong growth trajectory.
The peer-to-peer property specialist will give clients who refer friends and acquaintances a bonus of five per cent of the interest earned on their referee’s investment.
The return pot will be paid monthly for a one-year term, the firm told Peer2Peer Finance News, as it looks to launch the offer on Thursday.
Meanwhile, newcomers will get a £50 sweetener when they invest a minimum of £1,000 for at least three months.
“Most of us know that you can’t get much better than a personal recommendation for a product or service,” said Paul Riddell, head of marketing at the firm.
“As part of a number of enhancements to the Lendy service this year, the all-new refer-a-friend scheme will reward investors for any friends referred as well.”
The firm is currently less dependant on attracting investor demand after it experienced a period of high growth, Riddell said.
The platform received £70m of new inflows in the five months to May, which increased its total amount of investment to date to £320m, meaning it is focusing on new origination at present.
“However, the investment side remains core to our strategy,” Riddell said.
Read more: Lendy unveils loan default numbers