The peer-to-peer property investment platform Lendy has marked its fifth birthday this week by reaching a total of £183m in total repayments to investors.
Lendy has returned £100m, a 120% increase, to investors in the last 12 months alone.
Total repayments made to investors include £152m in capital repayments and £31m in interest repayments since the platform’s inception in October 2012.
Lendy recently returned £7.92m to its investors in what is believed to be the UK’s biggest ever single P2P loan repayment. The loan returned a gross 12% per annum before in interest to investors. Repaid ahead of schedule, the loan was secured against the former Kentish Town Studios in north London.
Since Lendy was founded in October 2012, it has provided £338m in loans via what is now a 17,700-strong community of investors. The platform continues to grow, having added over 6,500 new investors this year alone.
Over the last five years, Lendy has become one of the most profitable P2P platforms in the industry. Last year, it paid over £540,000 in tax on a profit of £2.7m, more than double the £215,000 it paid on a profit of £1.04m the year before.
Liam Brooke, pictured, Co-Founder of Lendy, comments:
“We continue to show that P2P lending can deliver investors reliable returns, and the amount repaid to our investors is increasing every year.”
“The fact that the UK’s biggest ever single P2P loan repayment was delivered through our platform is a testament to the due diligence processes we undertake for our clients. However, we are always looking for new ways to improve our service and we have several targets for the coming year.”
P2P lending continued to expand in the UK last year, with lending across all platforms growing to £3.2bn in 2016, up 39% from £2.3bn in 2015. It has been estimated that the global P2P lending market reached £106.4bn in 2015.