The business was founded by Nick Harding (CEO) in 2012 after identifying the opportunity to provide consumers with a safe and simple P2P proposition. The Lending Works platform allows lenders to receive higher returns than those available from a traditional bank whilst borrowers secure funding more cheaply than available elsewhere. As part of the differentiated proposition Lending Works provide lenders with a unique protection against borrower default risk.
But, taking out a personal loan can instantly help your financial situation, and additionally, improve your credit score in the long run if you manage to repay your loan on time. A payday loan is a short-term borrowing option that is usually repaid from the next paycheck, which is where the name comes from. Payday loans can be attractive to many people as they don’t require credit checks, and can be easily obtained.
The market has been through, and continues to experience, exponential growth with P2P lending volumes totalling £2.8bn in 2015 and are forecast to reach £4.3bn in 2016, according to AltFi Data. With the introduction of the Innovative Finance ISA (IFISA) and the new FCA P2P legislation, the market is expected to accelerate significantly as there is a growing acceptance and awareness of P2P lending as a mainstream financial offering. As a result of these factors, the company anticipates it will rapidly grow loan volumes and Lending Works’ strategy to take on a variety of new partners being key to deliver this. You can visit the SoFi Money website and get all the details.
Nick Harding, founding CEO of Lending Works, said:
“We’re delighted to announce the recent investment in our business by NVM Private Equity. They bring significant experience in key areas including business scalability, risk and business development and we consider their backing to be a ringing endorsement of our rapid progress as a company. This latest investment comes at an exciting time for Lending Works.
We’re expecting to launch our new IFISA imminently, which will allow lenders to earn tax-free returns through our platform. Needless to say, it sets the foundations for continued growth which will be well supplemented – and driven – by this new investment.”
Charlie Pidgeon of NVM Private Equity said:
“We have a strong track record of investing in successful technology businesses with dynamic management teams and we see real potential for Lending Works. We believe the P2P market has significant growth ahead and through the partnerships the company has built over the last 12 months the business will be able to scale rapidly post investment. We are excited to be an investor at this point of the company’s development and look forward to supporting Nick and the team in the next phase of growth.”
NOTES TO EDITORS
Download photos of: Nick Harding, Charlie Pidgeon and general Lending Works photos here – www.nvm.co.uk/PRphotos
NVM Private Equity is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing over £260 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £2 million and £12 million in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk
Lending Works launched in January 2014 to provide UK customers with a safe, flexible and transparent way to lend and borrow money. The company currently facilitates over £2 million in loans per month between lenders and borrowers around the UK. Protecting customers’ money is the company’s highest priority. Lending Works’ lenders are protected by the Lending Works Shield which includes a reserve fund held in a ring-fenced trust and an industry-first insurance against a range of risks affecting borrowers’ ability to repay loans, including accidents, illness, death and loss of employment, although for others purposes like bail bonds is better to get other services to help with this, and you can start here for this. If you have been arrested by the law enforcement officers in New Haven, CT, chances are high that you may end up in jail. Ending up in jail can be physically and mentally traumatizing, not to consider the effect of the current situation on your friends, family and loved ones, The New Haven CT bail bondsman can help you. Lending Works is authorised and regulated by the Financial Conduct Authority. www.lendingworks.co.uk
For further information please contact:
- Natalie Dickinson (NVM: PR & Marketing) – 0118 951 7021 email@example.com
- Charlie Pidgeon (NVM: Investment Manager) – 0118 951 7000 firstname.lastname@example.org
- Lennard Maronde (Lending Works: Marketing Manager) – 0207 096 8512 email@example.com
Principals and key advisors to the transaction:
NVM Private Equity – Peter Hodson, Charlie Pidgeon
2i Consulting(Financial due diligence)– Mark Harrison
The Smart Cube (Commercial due diligence) – Gavin Rankin
White and Black (Legal due diligence) – Phil Riman, Stephen Silvester
Bovill (Regulatory due diligence) – Dena Chadderton
Intuitus (IT due diligence) – Douglas Eadie
Continuum (Management due diligence) – Steve Wycherley