Folk2Folk’s investor group earned £14.2m in curiosity in the course of the 2022/23 tax 12 months, the corporate has confirmed.
The lender – which is the most important P2P platform within the UK – mentioned that the determine highlights Folk2Folk’s “dedication to fostering monetary progress for each traders and small companies alike.”
“We’re thrilled to witness the exceptional success of our traders, who play an important function in fuelling financial progress inside native communities,” mentioned Roy Warren, managing director of Folk2Folk.
Learn extra: Warren: “Not all P2P is high-risk funding”
“Our platform’s ethos has all the time been centred round connecting individuals and enabling funding in a clear and impactful method.
“This milestone highlights the worth of our strategy and the constructive outcomes it delivers.”
Because it was based in 2013, Folk2Folk has funded greater than £628m in enterprise loans, backed by property or land. Buyers can earn returns of 8.75 per cent or extra, and all investments could be shielded from taxation by an Progressive Finance ISA.
Learn extra: Folk2Folk studies fourth 12 months of revenue and recommits to retail
The platform famous that its traders have contributed to job creation, rural growth, and the general vitality of native economies.
“As Folk2Folk appears forward, it stays dedicated to its mission of supporting native companies whereas delivering compelling returns to its devoted investor group,” mentioned an organization spokesperson.
“The platform’s strategy to lending, mixed with its emphasis on making a constructive affect on Britain’s regional economies, positions it on the forefront of accountable finance.”
Learn extra: How platforms have tailored to the variable financial system