CapitalStackers repays £1.4m to investors and plans IFISA launch
CapitalStackers has repaid £1.4m to investors despite the economic uncertainty caused by Covid-19 and is preparing to launch an Innovative Finance ISA (IFISA).
The peer-to-peer property lending platform said the latest payments followed the completion of two projects, with returns ranging from 8.25 per cent to 17 per cent.
“It’s a clear barometer of the health of the sector to see that sales are going through, investors are being repaid and their appetite for new investments remains strong,” said Steve Robson, managing director of CapitalStackers.
“The results demonstrate that even in tough times, investors still have a strong appetite to invest in a platform that gives them confidence and regular feedback.”
Robson also said that CapitalStackers is revamping its platform, incorporating payment services through alternative lending technology provider Goji, and will soon launch an IFISA.
Read more: P2P property lenders optimistic about market recovery
Over the past six years, CapitalStackers has been repaying investors an average of 12.1 per cent per annum, with the highest pay-out being 22.48 per cent.
Most of these deals were conducted in partnership with a bank, all were secured on the property being financed, and all deals were closely monitored by the platform and the banks, with input from independent surveyors.
Each deal was fully funded at the outset, meaning all the money was in place to finish the building work.
Read more: CapitalStackers notes possibility of building delays and construction freeze
CapitalStackers is not the only P2P platform to continue to repay investors despite the pandemic. Last week, Blend Network repaid over £2m to investors, as six loans were repaid ahead of maturity.
