Peer-to-peer property investment platform Lendy has marked its fifth birthday this week by reaching a total of GBP183m in total repayments to investors.
Lendy has returned GBP100 million, a 120 per cent increase, to investors in the last 12 months alone.
Total repayments made to investors include GBP152m in capital repayments and GBP31m in interest repayments since the platform’s inception in October 2012.
Lendy recently returned GBP7.92m 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 cent 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 GBP338 million 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 GBP540,000 in tax on a profit of GBP2.7 million, more than double the GBP215,000 it paid on a profit of GBP1.04 million the year before.
Liam Brooke, Co-Founder of Lendy, says: “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 GBP3.2 billion in 2016, up 39% from GBP2.3 billion in 2015. It has been estimated that the global P2P lending market reached GBP106.4 billion in 2015.