Peer-to-peer lending platform FOLK2FOLK returned a record £15.78m in interest to investors in the 2023-24 tax year, and achieved a turnover of £5.282m, according to its latest annual results.
The firm helps business owners across the UK access the finance they need to grow, develop, or diversify with fixed-rate, property-backed returns to retail and institutional investors.
Since 2013, FOLK2FOLK has facilitated over £690m in business loans.
For the year ended 31st January 2024, FOLK2FOLK reported a slight decrease in profit before tax to £1.284m from £1.374m in the previous year, due to ongoing fintech investment.
Despite this, the business said it continued to show robust financial performance and sustained growth.
This marked the fifth consecutive year of profit, and the third year of paying shareholder dividends.
FOLK2FOLK distributed £15.78m in interest to investors, underscoring the platform’s commitment to delivering excellent returns, currently from 8.75% p.a.
Roy Warren (pictured), managing director of FOLK2FOLK, said: “I am delighted to announce another successful year for FOLK2FOLK, marked by our highest ever turnover and substantial interest payments to our investors.
“This reflects the trust and confidence that brokers and investors have placed in FOLK2FOLK.
“Maintaining a profitable platform is crucial for the confidence of our broker partners and the health of the wider P2P sector.
“Our strong performance is testament to the strength of our business model, the relationships we have with our partners, and the dedication of our team.”
