01566 773 296
Log in
Menu
Investors. Don't invest unless you're prepared to lose money. Take 2 mins to learn more.

FOLK2FOLK announces record turnover and investor returns

FOLK2FOLK

Continued growth and positive impact on regional UK economies with £15m paid out in interest to investors

FOLK2FOLK, the UK’s leading Peer-to-Peer lending platform for businesses, returned a record £15.78m in interest to investors in the 2023/24 tax year, alongside a record turnover of £5.282m, according to its latest annual results.

The Cornwall and Gloucestershire based business, which operates nationwide, helps business owners across the UK access the finance they need to grow, develop, or diversify while providing fixed-rate, property-backed returns to retail and institutional investors, currently from 8.75% p.a. Since 2013, FOLK2FOLK has facilitated over £690m in business loans.

For the year ended 31 January 2024, FOLK2FOLK reported a slight decrease in profit before tax to £1.284 million from £1.374 million in the previous year, due to ongoing fintech investment. Despite this the business said it had continued to show robust financial performance and sustained growth. This marked the fifth consecutive year of profit, and the third year of paying shareholder dividends, demonstrating the company’s financial stability and resilience, it said.

Key Highlights:

  • Turnover: achieved record turnover of £5.282 million up almost 7% on the year before (£4.94m), continuing a consistent upward trend.
  • Profit Before Tax: posted a pre-tax profit of £1.284 million, demonstrating the company’s ability to maintain profitability in a challenging economic environment.
  • Interest Payments: distributed £15.78 million in interest to investors, underscoring the platform’s commitment to delivering excellent returns, currently from 8.75% p.a.
  • Dividends: paying out dividends to shareholders for the third consecutive year, reflecting ongoing financial health and commitment to shareholder value.

Roy Warren, Managing Director of FOLK2FOLK, commented: “I am delighted to announce another successful year for FOLK2FOLK, marked by our highest ever turnover and substantial interest payments to our investors. This reflects the trust and confidence that businesses and investors have placed in FOLK2FOLK.

“Maintaining a profitable platform is crucial for the confidence of our investors and the health of the wider P2P sector. Our strong performance is testament to the strength of our business model, the loyalty of our investors, and the dedication of our team.”

Mr Warren added that FOLK2FOLK has continued to support regional UK economies by providing essential funding to small businesses, enabling them to start, grow, or diversify. This financial support has facilitated job creation, strengthened supply chains, enabled property developments, and funded new local attractions, thereby bolstering visitor economies and contributing to the overall prosperity of these regions, he said.

FOLK2FOLK is regulated and authorised by the Financial Conduct Authority. It is also a delivery partner of British Business Investments, a commercial subsidiary of the Government-backed British Business Bank, whose remit is to improve access to alternative finance for smaller businesses across the whole of the UK.

Share this: