LendInvest announces £3.1m profit
By Tom WrightPeer-to-peer platform LendInvest has made a profit for the second year running
Peer-to-peer (P2P) platform LendInvest has made a profit for the second year running.
The company, which launched in 2013, reported a profit of £3.1m and revenues of £15m, compared with a profit of £1.2m and revenues of £5m in 2014.
Christian Faes, Co-founder and CEO at LendInvest, said: “The world of P2P is a slightly bizarre one in that there’s a lot of talk about how much platforms are lending - but for the industry to mature, investors should start looking at how viable underlying business models are, rather than simply how much a platform has lent.”
“At LendInvest we are lending substantial volumes but, more crucially, we are a profitable business without having to rely on external funding to stay alive.
“We are proud to lead the way as the first P2P platform in the world to report two consecutive years of profit and forecast more.”
“LendInvest’s performance to date makes a strong case for P2P as a permanent fixture in the makeup of UK financial services, as well as an attractive and investable asset class.”
The news comes just four months after LendInvest secured a ‘Series A’ round of investment of £22m, the largest ever in the UK.
It is also the first firm in the P2P industry to receive a European credit rating.
Keywords: p2p lender, peer-to-peer, p2p marketplace, lendinvest, bridging and commercial, B&C, medianett, christian faes, series A investment, buy-to-let finance, bridging finance
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/lendinvest-announces-163-3-1m-profit