Peer to peer lender Kuflink has reported surpassing £50 million worth of bridging and development loans. Kuflink is a UK based P2P lender serving the property market. All loans are said to be secured by UK property. According to the website, investors may earn up to 7.2% interest per year.
Kuflink states that of that £50 million, over £23 million in capital has been returned to investors and a further £1.3 million in interest has been paid. Kuflink says they just experienced their busiest quarter.
“It took us over a year to fund our first ten million, and we’ve been on an upward trajectory ever since – we’re reaching each milestone faster than the last,” stated Narinder Khattoare, Kuflink CEO.
Khattoare added that P2P has been in the spotlight lately (and not all good) but this milestone is indicative that their lenders view Kuflink differently than some other platforms:
“…our thorough due diligence, common sense approach to lending and the millions in capital and interest we’ve already returned to investors are the reasons we’re here for the long haul,” Khattoare said. “We’ve built a fantastic community of investors and couldn’t do it without their support, or the continuous hard work from our growing team. We’re just beginning to launch the first in a series of huge developments for Kuflink that will really shake up the peer-to-peer market, so watch this space as there is plenty of excitement to come.”