Lendingcrowd cheers record month for deals
Lendingcrowd, the Edinburgh-based peer-to-peer (P2P) platform, completed loan deals totalling more than £3 million during May, marking its best-ever month.
Despite May having two bank holidays, the platform also saw its deal volumes reach a fresh record as it secured loans for 36 small business covering a range of sectors across the UK.
Adrian Innes, head of origination at Lendingcrowd, said: “It was a great team effort to get to this milestone, helped by our improved processes and a fantastic working relationship with our community of introducers.
“Not only was May a record for us in terms of the total value of loans, the number of deals completed also hit a new high, up 40 per cent compared with our previous best.”
Lendingcrowd is targeting total lending of about £40m for 2018, more than double the figure for last year. It comes after the company secured £2m of external funding.