The Peer2Peer Finance Awards are only a few weeks away, and which means we’ll quickly be taught which firm has been topped peer-to-peer lending platform of the yr.
This yr’s shortlist is stacked, with six distinctive and profitable companies competing for the highest spot.
However who’re they?
Property lender CrowdProperty is essentially the most nominated agency on this yr’s Peer2Peer Finance Awards, and it’s simple to see why. The corporate has had a stellar yr, reaching a collection of recent milestones and breaking new information. Earlier this month, the platform reported that it had funded greater than £800m in property tasks, following a ‘document’ August which noticed the platform repay £200m to its buyers.
In June, CrowdProperty was named one of many UK’s 100 fastest-growing corporations, profitable a spot on The Sunday Occasions 100.
Earlier this yr, we revealed that easyMoney was the UK’s largest Modern Finance ISA (IFISA) supplier with greater than £60m invested within the tax wrapper.
In September, easyMoney achieved its goal of paying £1m monthly to buyers, after rising each its belongings below administration and mortgage e-book. The property lender has now set a brand new goal of £2m monthly for its buyers whereas sustaining its zero per cent default price.
Folk2Folk is the most important P2P platform within the UK, with greater than £646m enterprise loans funded so far. The Cornwall-based lender raised its charges this yr to eight.75 per cent, whereas sustaining a zero loss price for its buyers. In June, the corporate celebrated its fourth consecutive yr of profitability, regardless of the difficult financial setting.
Managing director Roy Warren is a vocal supporter of P2P and various lending, and has been outspoken about the advantages of the sector for each debtors and buyers alike.
2023 has seen Kuflink embark on a development journey, hiring new workers, climbing its investor charges, and securing a £35m revolving credit score facility positioned by European Threat Capital with Paragon Financial institution.
The platform has additionally teased large plans for 2024, with a rebrand within the works alongside the potential for new merchandise and a £500m portfolio by 2025.
Relendex marked its 10-year anniversary this yr with a collection of recent milestones. In June, the agency raised £3m from non-public buyers to fund its continued development. The corporate additionally introduced its third yr of profitability, with plans to pay its first dividend later this yr.
Govt chairman Paul Sonabend confirmed that Relendex has “comfortably out-performed almost each different funding sector, delivering seven to eight.5 per cent after loss changes, yearly over the past six years.” But regardless of these successes, Sonabend claims that popularity is what really drives him to succeed.
Swedish P2P lender SaveLend is the one non-UK platform to make the shortlist. It has had a very dynamic yr working within the aggressive European P2P market. SaveLend grew to become one of many first platforms to win approval to function below the European Crowdfunding Service Supplier Regulation, and now plans to increase throughout Europe and entice much more buyers to the platform.
In August, guardian firm SaveLend Group swung into revenue following the acquisition of Lunar Financial institution’s P2P lending enterprise Lendify.
Learn extra: Property lenders dominate P2P Finance Awards shortlist
