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FinTech Firm LendingCrowd Boasts Record Year and Expansion

Chloe Henderson

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lendingcrowd

Scotland’s SME finance provider sealed 200 deals in August alone, and posted earnings of around £2.5m. 

lendingcrowdEdinburgh-based FinTech firm LendingCrowd have posted a record few months after after topping 200 cumulative loan deals in August. The company also saw around £2.5m in funds inflow, and completed four Scottish deals worth over £400,000. 

Mike Allan, Director of Operations, told DIGIT: “We are extremely pleased that we’ve had a run of record months, leveraging the investment in the business infrastructure, including our proprietary trading platform. Technology has played a key part in the growth, with the launch of our passive and ISA products in early 2017 being dependent on the flexibility and scalability of the architecture. Improvements to digital marketing and customer journeys have played a significant part over the last few months and we are looking forward to driving significant growth in Q4 and into 2018.”

Overall it’s been a good year so far for the company, having successfully gained full FCA accreditation, partnered with Scottish Enterprise, raising £1.5m in their first external equity. LendingCrowd have also expanded their executive team, adding former RBS and Clydesdale Bank director Adrian Innes to the mix as Head of Origination.

On his appointment, Innes said: “LendingCrowd has built a reputation as one of the best and most trusted P2P lenders in the UK market and I’m excited to join the team at this pivotal time in the company’s growth as we look to significantly increase the loan book over the next year look to win even more business in Scotland and across the UK.”

Chloe Henderson

Staff Writer - DIGIT

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