The business reports a 133% increase in gross revenues to £32 million (vs £14 million, FY 2015) and £3.4 million profits (vs £3.3 million profits, FY 2015)
Its total annual lending increased 84% to £320 million, having lent £174 million in the year to March 2015.
Christian Faes, co-founder and CEO of LendInvest, commented:
“At LendInvest we’ve worked very hard to create a marketplace business that provides a great proposition for borrowers and a good investment for investors. However, we’ve also worked extremely hard to scale the business in a profitable, financially viable way.
“Lending and investing money is a serious matter. These financial results clearly spell out that LendInvest is a FinTech company that’s built on solid foundations, is financially stable, and is going to be around for the long haul. In light of the headwinds that the Brexit vote has caused for the UK’s economy, it’s been particularly rewarding to see customer demand for our products still growing and we look forward to building on this positive momentum in the next year.
“We may be growing fast, but we’re doing so sensibly. We have invested heavily in recruitment, technology development and underwriting expertise to keep our credit standards high and defaults low. Yet, despite the outlay of investment, we remain very well-capitalised with a balance sheet that’s well equipped for organic and opportunistic growth.”
