Lendahand recertified as B Corp after “challenging” assessment
Ethical peer-to-peer lending platform Lendahand has been recertified as a B Corp company, after what it described as a “challenging” process.
The Netherlands-based firm, which also has an Innovative Finance ISA in the UK via its joint venture with ethical investment platform Ethex, first obtained B Corp status in 2016.
The B Corp certification is regularly assessed in order to check that companies are maintaining their standards. Lendahand was recertified in 2018 and again this year, with the current certification valid until 2025.
B Corp assesses companies in five different areas: governance, how it treats its employees, its impact on the community, its environmental footprint and how it affects its customers.
Read more: The 15 P2P and crowdfunding platforms with B Corp status
The assessment consists of 200 questions, which are all scored from one to 100. To become certified as a B Corp, a company must score at least 80 points with an average of 100.
“The recertification process proved to be quite challenging for Lendahand,” the firm said.
“Despite having been previously certified, we experienced first-hand how rigorous B Corp is when it comes to measuring the impact of the organization.
Read more: Ethical P2P investors urged to consider B Corp status
“The process was initially scheduled for 2021 but ended up taking almost a year. Eventually, we achieved a total score of 86 points, leaving room for improvement in the future.”
Today, over 7,000 companies in 91 countries are certified B Corps, including peer-to-peer lender Kuflink and crowd bonds platform Abundance Investments.
