Since launching in 2012, Lendy has returned £29.5m in interest alone to investors, while repayments of principal include a further £141.5m.
Lendy has provided almost £335m in loans secured against property since its inception, while the live loan book stands at £166m.
“It has been a very strong year for Lendy, with growth in both turnover and profitability,” said Liam Brooke, director and co-founder of Lendy (pictured above).
“We have maintained our provision fund in line with our commitment to our lenders, our balance sheet is more robust and our growth has been closely controlled.
“We’ve experienced growth in every area of the business and we are now one of the few profitable P2P platforms.”
Lendy has put a particular focus on due diligence over the past year and made a number of new hires to its team.
- Lendy launches variable pre-funding
- Lendy attracts almost £2m in new investments from Cowes Week
- Behind the scenes at Lendy Cowes Week 2017
The platform also appointed a new legal panel comprising three top 100 law firms and recently named accountancy firm Moore Stephens as its auditor.
With over 17,500 lenders now registered on its platform, Lendy said that its capacity to lend is at an all-time high and hopes to complete more large-size loans.
“Continuing to make improvements to our due diligence process is also a key target for us in 2017,” added Liam.
“We’ve made some major hires from institutional financial services backgrounds to help us to implement this programme, and we’re aiming to make our due diligence approach even more robust moving forward.”
Liam went on to add: “Another major target this year has been to continue to improve our communications with our lenders.
“We’ve made big strides already in the first half of the year, from more regular and timely newsletters, more detail on individual loans, supported by up-to-date photography, an improved customer service centre and faster turnaround of enquiries.”