ArchOver surpasses £50 million lending milestone
ArchOver, the peer-to-peer (P2P) business lending platform, has facilitated over £50 million of lending with no losses or late payments.
With £4 million in total shareholder and investment capital, this latest achievement demonstrates the strength of ArchOver’s business model as it matches prudent spending with the rapid growth of its loan book. It is backed by parent company the Hampden Group, one of the UK’s most successful financial support services firms, which saw the potential in ArchOver’s business model early on.
“In a world of low returns, investors are increasingly searching for higher yields,” said Angus Dent, ArchOver CEO. “Lending is a relatively straightforward asset class for both institutional and retail investors to understand, and the Financial Conduct Authority’s recent certification of ArchOver and other P2P platforms has given them the confidence to add P2P lending to their investment portfolio.
“We look forward to introducing new lending services in 2018, helping to expand our borrower and lender base while continuing to operate with the best principles of P2P lending. We offer manual platform lending to all levels of investors on the same terms and interest rates. We will continue to do so while also building models that meet the increased demand for larger loans from British businesses adopting the P2P model.”
The ArchOver platform produces average yields of 7.3% per annum, and comes with multiple security measures built in to protect investors. Investments benefit from an insurance partnership with CoFace, dispute resolution services from Escalate, and ArchOver’s all-asset charge and controlled intermediary account. ArchOver applies rigorous credit analysis to every potential borrower and monitors the loans made throughout the term.
“This is a significant landmark in ArchOver’s growth,” said Stephen Harris, Hampden Group CEO. “ArchOver has consistently produced high yields for institutions and individuals alike, and that high quality of service is producing fantastic results. We are reaping the benefits of recognising the strength of the ArchOver model early, investing in the company and lending over the platform alongside a growing number of investors. We look forward to continuing to support ArchOver as the business continues to grow with profitability.”