Roy Warren, managing director at FOLK2FOLK

FOLK2FOLK makes record annual turnover

Peer-to-peer lending platform for businesses, FOLK2FOLK made a turnover of £5.282m in the 2023/24 tax year, according to its latest annual results.

Meanwhile, the company returned a record £15.78m in interest to investors in the same time period.

FOLK2FOLK said it has facilitated over £690m in business loans.

For the year ended 31st January 2024, the company reported a slight decrease in profit before tax to £1.284m from £1.374m in the previous year, due to ongoing fintech investment.

Despite this the business said it had continued to show robust financial performance and sustained growth. This marked the fifth consecutive year of profit, and the third year of paying shareholder dividend.

Roy Warren, managing director at FOLK2FOLK (pictured above), commented: “I am delighted to announce another successful year for FOLK2FOLK, marked by our highest ever turnover and substantial interest payments to our investors.

“Maintaining a profitable platform is crucial for the confidence of our broker partners and the health of the wider P2P sector.”

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