Kuflink funds projects secured against UK property and boasts that investors can earn up to 7.2% interest per annum plus 4% cashback on their first investment. Having undertaken just over 300,000 investments, in mid-June the P2P Investment Platform announced it had funded over £50 million worth of bridging and development loans since its establishment.
Of the £50 million, Kuflink is said to have generated £1.3 in interest and turned over £23 million in capital to investors.
Although it took the company a year to fund their first £10 million, Kuflink CEO Narinder Khattoare said:
“Peer to peer has been in the spotlight lately, but this milestone shows that our investors understand why Kuflink is different from some lenders – 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.”
The milestone is owed to several factors. Namely, a new, user-friendly website to attract more customers. Moreover, the launch of a successful TV campaign has also helped and Kuflink even has a Youtube presence detailing what the company does on a daily basis. The company’s 4.5/5 rating on Trustpilot is also beneficial.
Furthermore, several key new hires have helped, with Mr Khattoare pointing out:
“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.”
A recent report indicated that going forward, Kuflink intends to focus more on development finance.