easyMoney reaches £400m in lending

easyMoney has reached its £400m lending milestone, as the peer-to-peer lending platform continues to grow.

It comes just three months after the property lender revealed that its live loan book had reached £200m. At the time, easyMoney chief executive Jason Ferrando noted that the platform had funded more than £380m of loans.

Since then, the platform has funded another £20m, bringing its lending total since inception to over £400m.

More than £40m has been paid to date to easyMoney’s 4,800 investors. Total Innovative Finance ISA (IFISA) funds currently deployed amount to more than £84m.

Read more: easyMoney posts 86pc rise in profits

“We’re thrilled to have reached this significant milestone and achieving it in such a brief period speaks volumes about the dedication of our entire team,” Ferrando told Alternative Credit Investor.

“At the heart of our operations lies an unwavering commitment to client satisfaction, encompassing both our borrowers and lenders. This achievement is just one of several noteworthy accomplishments this year.

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“We’ve distributed over £40m in client interest since our inception and exceeded £200m in current active loans.

“Our efforts were recognised at last year’s Alternative Credit Investor awards, where we were honoured to receive an accolade. We eagerly anticipate this year’s event in November, poised to showcase our continued growth and innovation in the alternative lending sector.”

easyMoney has been nominated for IFISA lender of the year and UK bridging lender of the year (sub £1bn) in the upcoming Alternative Credit Awards.

Read more: What to expect at this year’s Alternative Credit Awards