Lending Works Surpasses £100 Million in Online Lending

UK-based peer-to-peer lender Lending Works announced this week it surpassed £100 million in online lending. According to Lending Works, the milestone comes just a little over a year after the platform surpassed £50 million. The lender also reported that 20,000 customers (over 16,000 borrowers and nearly 4,000 lenders) have used its platform. While sharing more details about the latest milestone,  CEO of Lending Works, Nick Harding, stated:

“We’ve achieved some exciting milestones since opening our doors at Lending Works, but this definitely ranks as one of our finest moments.The growth we’ve seen over the past year in particular has enabled us to stamp our mark on the peer-to-peer lending sector, yet we have done this while maintaining a stable and sustainable footing as we build for the future. We’re also very proud to have created a business that is changing financial services for the better. We set out to improve the experience that our customers have when getting a loan or making an investment, and with customer satisfaction that is higher than that of Apple or Amazon, I feel we are achieving our objective. Making over 20,000 people’s lives slightly better, brings a smile to our faces.”

Founded in 2014, Lending Works describes itself as a peer-to-peer lending platform that matches people looking for a better return on their money with sensible borrowers looking for a low-cost, flexible personal loan. The company became the first P2PFA member to receive full authorization from the FCA in October 2016 and the first to launch the new Innovative Finance ISA in February 2017. Harding went on to add:

“It’s very pleasing to note the list of things we’ve accomplished, but it is also due reward for the resources we’ve invested into establishing solid foundations,” observes Nick. “We’ve put a lot of emphasis on recruiting experts in data science, IT, online security and customer service over the past two years, and each of these areas has played a significant role in strengthening our brand and driving growth. Being able to expand our business and unlock new channels of loan origination and investment capital from such a strong base leaves us well poised to make 2018 the best yet, and to really challenge the market leaders in the years to come. But for now, I’d just like to extend a huge thank you to our customers, and also our dedicated, hard-working team. It is very rewarding to share in the satisfaction of reaching this landmark with you all, and I look forward to enjoying many more in the future.“

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