Lending Works hits £150m of loans in five years

By Daniel Lanyon on Tuesday 29 January 2019

Editor's PickAlternative Lending

The peer-to-peer lender is looking ahead to a fruitful ISA Season.

Lending Works, the peer-to-peer lender, has surpassed £150m in loans to households and firms.

The platform allows borrowers to apply for loans in a matter of minutes, its says, with “many” approvals occuring in under 48 hours. The London based firm says 25,000 people have taken out a personal loan over the five years since its launch in January 2014.  It has seen a growth rate of 2,832 per cent in terms of revenues in the last four years, it says.

It plans to continue their year on year growth with the goal of matching another £150m in loans in 2019. The firm passed £100m of lending less than a year ago.

Nick Harding, Lending Works Co-Founder and CEO, says the firm is aiming to reaching £300m loans by the end of 2019 thanks in part to its “greatest ISA season yet ”.

“Our customers appreciate our key values of fairness, transparency and honesty and we hope to continue to be seen as a leader in fair financial services for years to come,” he said.

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.