Abundance increased revenue during Covid recovery
Abundance Investments increased its revenue last year as the renewables-focused crowd bonds lender recovered from the impact of the Covid pandemic.
According to the company’s latest financial report, revenue rose to £1.65m in 2021, up from £1.36m in 2020. However, total losses widened to £372,000, compared with £311,000 the year before.
Karl Harder, joint managing director of operations at Abundance, said that losses are expected to continue in the coming years as the company invests in its growth.
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It hopes to take advantage of the rising demand for investments with a strong environmental, social and governance (ESG) proposal.
“Income grew in 2021 due to recovery from [the] Covid-19 pandemic, but also due to a welcome and renewed focus on the delivery of NetZero,” Harder said.
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“During the period, the company maintained a tight control of discretionary spend to manage ongoing risks associated with Covid-19, but did make key investments in its long term growth and to position itself to capitalise on the recovery and growth in ESG investing.
“The company will continue to invest ahead of income and therefore expects to incur losses over the coming years. The investments are designed to support the company build a long-term competitive advantage within the market.”
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