LendInvest reports £3.4m profits and growth in lending

UK-Houses-Home-Mortgage-700x450.jpgLendInvest has posted a third consecutive year of profits at £3.4m for the year to March, up from £3.3m the previous year.

The online lending and investing platform says its gross revenues increased 133 per cent to £32m, from £14m the previous year.

It says total annual lending was up 84 per cent to £32om from £174m previously.

Stephan Wilcke (former executive chairman of OneSavings Bank) has joined as a senior adviser

The business now manages almost £300 million on behalf of individual and institutional investors and has lent over £750 million to property investors.

Co-founder and chief executive Christian Faes says: “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.”