Assetz Capital, one of the UK’s fastest growing peer-to-peer alternative finance platforms, has reported a continuation of profit for its half year results.
The company has recorded a seven-figure pre-tax profit in the six months from April to September 2017, in keeping with the profitability recorded for the entire 2016/17 financial year. With recent FCA approval, Assetz Capital remains one of the very few P2P platforms worldwide to achieve profitability, with a revenue run-rate of circa GBP15 million per annum.
From April 2017 to September 2017, well over GBP110 million was lent through Assetz Capital to credit worthy businesses nationwide, similar to the whole of last financial year.
In addition, Assetz Capital announced this month that it its investors have earned total gross interest of GBP30 million since the company’s launch in 2014.
Stuart Law, CEO of Assetz Capital, says: “We have reported considerable growth and stability over the past four years, and now that profitably has been consistently achieved in parallel to that strong growth, we continue to go from strength to strength. While many in this market are obsessed purely by lending totals, we believe there are other strong measurements of success that must be achieved to have a sustainable company that is a solid and large-scale institution of the future. Two of these are profitability and strong net returns for investors, and we continue to post strongly in both of these areas.”