EasyMoney doubles profits and revenues
EasyMoney more than doubled its profits and revenues between 2020 and 2021, while the value of its loan book passed £100m last year.
According to the peer-to-peer lender’s financial results for the 12 months ending 31 December 2021, the business made a total profit of £561,033 – up from £265,763 the previous year.
This is the second year in a row that EasyMoney has been in profit.
Revenue also doubled, with the company’s turnover rising from £1,688,762 in 2020 to £2,762,554 last year.
“We are extremely pleased with our results,” said an EasyMoney spokesperson.
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“The loan book is now over £100m and that’s a testament to the hard work of the team here at EasyMoney.
“We have had an huge influx of retail investors signing up and investing on our platform, so our job is to continue finding high quality bridge and development loans in liquid locations to maintain our perfect track record of no defaults.”
Earlier this year, the platform confirmed that it had already passed its £150m lending milestone, and aims to pass £200m by the end of 2022.
Since the company’s launch in February 2018, investors have lost no money and there have been no defaults to date. More than £10m has been returned to investors in interest payments to date.
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