easyMoney posts 86pc rise in profits
Peer-to-peer development finance provider easyMoney has reported an 86 per cent year-on-year rise in pre-tax profits to £2.097m, despite a challenging year for the property sector.
The firm also reported an 18 per cent year-on-year increase in revenue to £6.04m for the 12 months to 31 December 2023, according to documents filed with Companies House.
Read more: Property market begins “muted” recovery as mortgage arrears slow
The results come as easyMoney – which has lent more than £375m to date – expects to exceed the £400m milestone by the end of 2024.
“Although 2023 was challenging for the property sector, we are delighted that our team managed to significantly exceed £300m in loans written,” said Jason Ferrando, chief executive of easyMoney.
Read more: easyMoney investors earn more than £30m
“To be able to achieve so much in a challenging economic environment is testament to our team as we now begin to break records in 2024.
“easyMoney not only provides competitive funding to property professionals across the UK but also offers attractive returns to platform investors.”
easyMoney won the accolade of IFISA Provider of the Year at the Peer2Peer Finance Awards last year.
Read more: easyMoney finds UK investors bullish on 2024
