DIRECT LENDING investment manager Goji has passed £50m in assets under management and administration, thanks to “really strong” Innovative Finance ISA (IFISA) sales and ongoing demand from financial advisers.
The firm’s chief executive and co-founder Jake Wombwell-Povey, told Peer2Peer Finance News that he expects the platform to reach its £100m lending milestone within “months rather than years”.
“We hit our £50m milestone at the end of March, and that was really driven by really strong IFISA sales during the last couple of weeks of the tax year,” said Wombwell-Povey. “And the first few weeks of this tax year have been pretty phenomenal as well.”
The Goji IFISA allows investors to spread their money across multiple platforms, including Sancus, Growth Street, LendInvest, ThinCats, Funding Circle and Assetz Capital.
Wombwell-Povey added that while new customers drove its IFISA business last year, this year there has seen a lot of existing customers choosing to reinvest their ISA allowance.
Goji’s growth has also been aided by ongoing demand from financial advisers, as well as growing interest in the platform’s software.
Earlier this year, Goji launched a white label offering for investment providers. According to Wombwell-Povey, this ‘platform as a service’ product has already attracted a flurry of interest from Venture Capital Trusts (VCT) and Enterprise Investment Schemes (EIS).
Read more: Goji steps up its focus on adviser market