I was proud to hear that earlier this year Lendable was again named in a list of the top 100 fastest-growing technology companies based in the UK. The table, featured in The Sunday Times, placed the lending platform in 10th spot. As an earlier investor in the platform, seeing this consistent growth was hugely encouraging in a developing sector.
Launched as recently as 2014, Lendable uses machine-learning technology to offer personal loans and automate credit underwriting. Investors receive interest payments after servicing the loans on their behalf and crucially it does not hold them on its balance sheet. The platform has distributed more than £650 million in loans to UK consumers alone, and it recently launched its first credit card and plans to issue car finance in the near future.
Lendable itself reported in August a 165% rise in annual sales over the past 3 years, including £32.3 million in revenue. In addition, it secured £700 million of debt finance from investors such as Waterfall Asset Management and Goldman Sachs Private Capital. Peer-to-peer lending consisted more than £6 billion back in 2018, and it continues to be used by property developers and consumers. The variability of the debt finance sector during the COVID-19 pandemic, combined with Lendable’s consistent growth, is hugely encouraging for investors and I can envisage further growth into 2021 and beyond.
Nicole Junkermann is an international entrepreneur and investor, and the founder of NJF Holdings, an international investment company with interests in venture capital, private equity, and real estate. Through NJF’s venture capital arm, NJF Capital, Nicole oversees a portfolio of over 30 start-ups across three continents, including in healthcare, FinTech, and deep tech.
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