Stuart Law

Assetz Capital bids to lend £300m after profitable year




Assetz Capital has revealed that it made a seven-figure pre-tax profit during the 2016/17 financial year, while revenues have now reached over £10m pa.

The peer-to-peer lending platform saw a total of £126m lent through it to SMEs between April 2016 and March 2017 with £38m of that total being achieved in the final quarter.

Assetz Capital claimed it would lend over £60m during the first quarter of this current financial year as it bids to reach £300m of lending for the whole of the year.

"Nowadays there's the assumption that any fintech business won't make a profit for many years, if at all,” said Stuart Law, CEO of Assetz Capital (pictured above).

“The mark of success for the P2P market has been lending totals, but like all businesses, lending platforms should be judged on the sustainability of their business model and ability to fund their own growth through profits.”

Assetz Capital also announced that 20,000 investors had now signed up to the platform and earned over £23m in total gross interest.

“We are proud to say that Assetz Capital is one of the very few platforms making a noteworthy profit at the moment,” added Stuart.

“It's testament to our experienced team that we had such a successful past year.

"It's an exciting time for Assetz Capital as we establish ourselves as one of the world's most successful peer-to-peer business lenders." 

The peer-to-peer lending platform saw a total of £126m lent through it to SMEs between April 2016 and March 2017 with £38m of that total being achieved in the final quarter.

Assetz Capital claimed it would lend over £60m during the first quarter of this current financial year as it bids to reach £300m of lending for the whole of the year.

"Nowadays there's the assumption that any fintech business won't make a profit for many years, if at all,” said Stuart Law, CEO of Assetz Capital (pictured above).

“The mark of success for the P2P market has been lending totals, but like all businesses, lending platforms should be judged on the sustainability of their business model and ability to fund their own growth through profits.”

Assetz Capital also announced that 20,000 investors had now signed up to the platform and earned over £23m in total gross interest.

“We are proud to say that Assetz Capital is one of the very few platforms making a noteworthy profit at the moment,” added Stuart.

“It's testament to our experienced team that we had such a successful past year.

"It's an exciting time for Assetz Capital as we establish ourselves as one of the world's most successful peer-to-peer business lenders."

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