ArchOver and Relendex hit new lending milestones
Peer-to-peer lender Relendex and business lender ArchOver have both passed new lending milestones.
ArchOver has now facilitated over £150m of lending to small- and medium sized enterprises across the UK.
Last year, ArchOver revealed that it narrowed its losses and increased its lender base organically, despite temporarily pausing new lending when the Covid-19 pandemic hit.
By July 2021, the platform had facilitated more than £129m in borrowing for British businesses, while lenders have received approximately £9.6m in interest.
Meanwhile, Simon Atherton, UK sales director at Relendex, revealed on LinkedIn that the P2P lender had delivered its first £100m of lending.
Atherton paid tribute to the “fantastic effort from all the team” and suggested that 2022 would be “another record year” for the lender.
“I am exceptionally proud of our dedicated team,” said Paul Sonabend, executive chairman at Relendex.
“Congratulations Simon and everyone at Relendex. This was an all round effort and best of all we have everything in place to deliver our next £100m.”
Relendex also achieved profitability last year. At the time, Sonabend told Peer2Peer Finance News that the biggest challenge the platform faces is that the loanbook is not as large as they would like because loans were being repaid early.
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