The P2P platform – which reached £50m of lending just a year ago – has now lent more than £100m to over 16,000 borrowers since it was launched in January 2014.

Lending Works was granted full authorisation from the FCA in October 2016.

“We’ve achieved some exciting milestones since opening our doors at Lending Works, but this definitely ranks as one of our finest moments,” said Nick Harding, CEO at Lending Works (pictured above).

“The growth we’ve seen over the past year in particular has enabled us to stamp our mark on the P2P lending sector, yet we have done this while maintaining a stable and sustainable footing as we build for the future.

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“We’re also very proud to have created a business that is changing financial services for the better.

“Making over 20,000 people’s lives slightly better brings a smile to our faces.”

Since launching its Innovative Finance Isa (IFIsa) in February 2017, almost £40m has been lent via the Lending Works Isa.

Nick continued: “It’s very pleasing to note the list of things we’ve accomplished, but it is also due reward for the resources we’ve invested into establishing solid foundations.

“We’ve put a lot of emphasis on recruiting experts in data science, IT, online security and customer service over the past two years, and each of these areas has played a significant role in strengthening our brand and driving growth.

“Being able to expand our business and unlock new channels of loan origination and investment capital from such a strong base leaves us well poised to make 2018 the best yet, and to really challenge the market leaders in the years to come.

“But for now, I’d just like to extend a huge thank you to our customers, and also our dedicated, hard-working team.”