Property finance marketplace LandlordInvest is considering expanding its operations beyond London, co-founder Filip Karadaghi said, as he eyes Scotland, Northern Ireland and the Republic of Ireland as possible destinations.
Speaking to Peer2Peer Finance News Karadaghi, who is also chief executive officer, said Ireland is attractive as it would provide a base in the European Union following Brexit.
“[We are] focusing on developing the business and there is plenty of room to do so. If the time is right we’ll look into new geographies and products. It’s about deciding what’s most relevant for the business,” Karadaghi said.
Such an expansion is on the table following a good year for the business in 2021. Karadaghi said that once again, LandlordInvest was able to generate a profit – although he didn’t share the amount as this will be published later in the year. It would follow a profit of £2,400 recorded in 2020.
“We’re one of the few P2P lenders to ever have a profit. We’re happy with that. And as for plans for 2022, we are just continuing what we’ve been doing, though we have intentions to grow a little bit quicker this year,” he said. “Barring any significant economic impact…we should be able to reach our goals.”
Among those goals is a plan to “double everything”, Karadaghi added. This will include headcount, as the firm looks to hire “in an opportunistic way” to add to the team, which currently is less than 10 people.
LandlordInvest was founded in 2014. It now has a loanbook of £13.15m, £9.8m in capital repaid and £1.29m earned by investors. Earlier this month, the group introduced a referral programme for investors.