ASSETZ Capital is set to have lent out £100m in three months, having expanded its relationship management team to fulfil an “influx of enquiries”.
The peer-to-peer lending platform said on Friday that it has funded more than £60m to small- and medium-sized enterprises over June and July, with a further £40m projected before the end of August.
This funding has been used to provide more than 30 loans, leading to the construction of 517 homes.
Assetz Capital has been on a hiring spree this year. The Manchester-based firm has appointed six more regional relationship directors, bringing the total to 26, as well as four senior relationship managers across the UK.
Assetz Capital hit the £500m cumulative lending milestone in May and has now lent out £590m, representing an 18 per cent increase in less than three months.
“These figures indicate that P2P lending is one of the fastest growing forms of alternative finance,” said chief executive Stuart Law. “Whilst traditional lenders are moving away from commercial finance, we are making capital available to fund ambitious developers and businesses across all areas of the UK.
“This increased level of activity isn’t just down to us – our investors play a huge role. Our competitive rates have attracted over 28,000 users to our platform, and we recently announced that over £50m has been invested into our Innovative Finance ISA since launch.
“In turn, it is this capital is fuelling the surging number of investments we make to help the UK economy flourish.”
Assetz Capital established an office in Northern Ireland in January, which has facilitated over £30m of loans in the region. It has also expanded its Scotland office so that it can take on extra staff.
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