Kuflink P2P platform approaches £95m
P2P-based bridging lender Kuflink has revealed that new investment levels have recovered to pre-COVID as the platform approaches a new high of £95m.
The company launched its P2P proposition in 2016.
To date, Kuflink has paid back over £59m in capital to investors, not counting interest.
In that time, no investor has lost money on any of the projects chosen by Kuflink into which investor funds were placed.
In February, Kuflink had reached £75m when COVID-19 began and although there were withdrawals by investors, the outflow was reportedly never significant.
In the period since the end of the first lockdown investment amounts have returned strongly, much of it from existing investors.
According to Narinder Khattoare, chief executive at Kuflink, incoming investment is now as healthy as it was before COVID.
Khattoare said: “There might be bigger P2P platforms but Kuflink, with its more modest growth plans, has proved conclusively that it is can produce decent returns for private investors with minimum risk because of its knowledge and understanding of the property market and its ability to pick the best opportunities to put in front of investors, rather than just the first ones to appear.
“From the number of returning investors, we know that our offering is popular and delivers.
“Equally, our strategy provides mortgage advisers with the kind of short term funding they want for their customers and which has been consistently available throughout the pandemic.”