Kuflink has reached the £50m lending milestone.
The peer-to-peer bridging and development finance lender, which launched in 2016, said it has already returned £23m of capital to investors and a further £1.3m in interest.
“It took us over a year to fund our first £10m, and we’ve been on an upward trajectory ever since – we’re reaching each milestone faster than the last”, Narinder Khattoare (pictured), chief executive of Kuflink, said.
“P2P has been in the spotlight lately, but this milestone shows that our investors understand why Kuflink is different from some lenders – our thorough due diligence, common sense approach to lending and the millions in capital and interest we’ve already returned to investors are the reasons we’re here for the long haul.
“We’ve built a fantastic community of investors and couldn’t do it without their support, or the continuous hard work from our growing team.
“We’re just beginning to launch the first in a series of huge developments for Kuflink that will really shake up the market, so watch this space as there is plenty of excitement to come.”
It has been a busy few months for the lender, which relaunched its website and unveiled its secondary market in February.
Investors can list most loan parts on the market, although some restrictions apply such as for loans in default or less than a month from their redemption date.
The platform will charge a 0.25 per cent administration fee to the seller, but the market is free to use for buyers.
Read more: Kuflink boosts IFISA and auto-invest rates