Peer-to-peer lending platform LandlordInvest saw its profits and revenue increase last year, while the platform’s chief executive anticipates further growth for 2022.
During the 12 months ending 31 December 2021, LandlordInvest saw its profits increase to £67,040, up from a profit of £1,809 during the previous year.
The property lender also saw its turnover increase by 91.3 per cent in 2021 compared with 2020.
Chief executive Filip Karadaghi told Peer2Peer Finance News that he expects both profits and revenue to “at least” double again by the end of 2022.
The platform also increased the number of loans originated last year. In 2020, LandlordInvest saw its loan volumes drop by 30 per cent as the pandemic brought the property sector to a temporary standstill.
Earlier this year, LandlordInvest completed its first mezzanine loan with Octopus Real Estate to fund the development of a five-storey building in London.
Karadaghi recently told Peer2Peer Finance News that he plans to expand LandlordInvest’s operations beyond London, with Scotland, Northern Ireland and the Republic of Ireland considered as possible destinations.
“We’re one of the few P2P lenders to ever have a profit,” said Karadaghi.
“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. Barring any significant economic impact…we should be able to reach our goals.”