Lendify has doubled its lending volumes in the past six months.
Swedish consumer lending firm Lendify has hit the SEK 1 billion mark in cumulative loans, equal to about €100m. It now claims to be the largest peer-to-peer lender in Sweden.
The milestone comes after six months of rapid growth. Launched in 2014, the platform hit the half billion SEK mark as recently as November last year. Six months on, its total loan volume has doubled. The vast majority of its lending has come in the past 18 months, during which time SEK 950 million has been lent.
According to AltFi Data, there are just six marketplace lenders in Continental Europe that have lent more than €100m cumulatively, ranking Lendify among Europe's largest platforms.
“The pace which we went from half a billion to one billion is evidence of the good conditions we have in Sweden for this type of innovation. It is obviously a great time to be a fast-growing fintech player in Stockholm. We are, of course, very pleased that both loan borrowers and investors have given our marketplace such a warm reception,” said Erika Eliasson (pictured), chief investor relations officer at Lendify.
Based in Stockholm, Lendify gives investors access to unsecured loans to ‘low risk’ Swedish consumers. Its active investor base currently stands at around 7,400.
The platform is authorised by the FSA and has raised SEK 220 million in equity funding to date.