Blend Network repays £1,550,000 in capital to lenders
Blend Network has repaid £1,550,000 in capital to lenders who invested in five of its 8-12% return p.a. loans over the past four weeks.
The announcement comes following a period of rapid expansion for the company that recently announced it had boosted deal origination by hiring former underwriter at Avamore Capital Chloe Stidston-Lewis. Blend Network has had a record year in 2020 with its lending up by 104% compared to last year.
Yann Murciano (pictured), CEO at Blend Network, said: “Track record, trust and transparency, or the 3-Ts as we like to call it at Blend Network, has been the backbone of our lending strategy since we launched. I am very proud of the amazing work our team is doing to bring great risk/reward loans to our investors.
“I truly believe we have managed to build one of the best, if not the best, team of highly professional property and finance experts and this is reflected in our track record and the an average 10.29% return p.a. for lenders so far.”
Roxana Mohammadian-Molina, chief strategy officer at Blend Network, added: “We are extremely proud of the track record we have been able to build since we launched in 2017, but to me it is more than just about great returns. To me, it is about how we have succeeded in democratising investing by allowing thousands of small and large investors – a mix of retail, institutional and HNW – to invest in property-secured loans from only £1,000.
“Not only are our investors earning a fantastic return, they are helping build the homes the UK needs. I am particularly proud to say we have a large number of female investors, a segment who have traditionally shied away from investing, but who are feeling confident to invest with Blend Network.”