FundingSecure hits £200m lending milestone

FUNDINGSECURE is the latest peer-to-peer lender to hit a funding milestone this week, as it has now facilitated more than £200m of loans.

The P2P pawnbroking platform said on Thursday that cumulative lending now stands at £200,190,259.

The company has experienced significant growth over the next 12 months, with more than £100m of new loans, according to a graph included in its monthly newsletter (see below).

FundingSecure said it issued 68 new loans last month, totalling £12.1m, while the secondary market saw more than £8m-worth of activity.

Read more: FundingSecure caps premium and discount rates on secondary market

The platform also said that it has a large number of loans in the pipeline looking to complete before Christmas.

FundingSecure, which launched its Innovative Finance ISA in April this year, offers investors average returns of 12-13 per cent by lending against a wide variety of assets such as jewellery, property, classic cars and fine art.

Read more: FundingSecure’s Nigel Hackett on the IFISA