- 12 Oct
Headline numbers are:
- 133% increase in gross revenues to £32 million (vs £14 million, FY 2015)
- £3.4 million profits (vs £3.3 million profits, FY 2015)
- 84% increase in total annual lending to £320 million (vs £174 million, FY 2015)
- 165% increase in employee headcount to 90 full time staff (from 34, FY 2015)
While others at industry conference, LendIt, where explaining their rationale for keeping overheads ahead of revenue - MarketInvoice, which was once in profit, is now investing in R&D to target the mainstream; Funding Circle is taking its European expansion slowly to gather the data so that controlled scaling can happen - Christian Faes was rather more pragmatic when he said LendInvest is focusing on profits because "VC money has largely left the party".
Interesting if true.