Kuflink reports £5m of inflows since end of February

Kuflink said it is continuing to attract investments and pay out capital and interest during the Covid-19 crisis.

The property-backed peer-to-peer lender said it had received a net inflow of around £5m from the end of February, when its announced it had attracted £75m from investors since launching four years ago.

It also revealed that it had paid back over £5m of capital and interest over March and April.

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“We continue to pay interest to our investors,” said Narinder Khattoare (pictured), chief executive of Kuflink.

“As you would expect from one of the UK’s leading fintech businesses, our advanced technology and forward planning has really borne fruit, enabling us to continue lending while other lenders have had to pull back.

“Our teams are working from their homes serving customers and providing the same seamless service on which we made our name.

“We are launching new products and services to the industry in the coming months which will truly set us above our peers as an innovator in the industry.”

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Khattoare said after major housebuilders Persimmon Homes, Vistry Group and Taylor Wimpey announced the reopening of their construction sites, the immediate future is looking more positive for housebuilding.

“Demand for funding will get stronger and Kuflink is here to provide the finance for individuals and businesses to take advantage of the opportunities out there as the building sector reopens,” he said.

“Whilst no one knows exactly what a post Covid-19 world will look like or how much our economy and society will be changed, Kuflink has the funds, the service and the expertise to help advisers and their customers through this challenging period and into the future.”