Kuflink has revealed that its P2P platform, which supports its lending to short-term borrowers, is continuing to attract inward investment from new and existing sources, giving Kuflink a solid base to confidently continue lending through the current crisis.
According to chief executive, Narinder Khattoare, Kuflink was better placed than many lenders to continue operating right through the crisis.
He said, “As you would expect from one of the UK’s leading fintech businesses, our advanced technology and forward planning has really borne fruit, enabling us to continue lending while other lenders have had to pull back.
“Our teams are working from their homes serving customers and providing the same seamless service on which we made our name.
“We are launching new products and services to the industry in the coming months which will truly set us above our peers as an innovator in the industry.
“We continue to pay interest to our investors. In March and April alone, we paid back over £5m of capital and interest and all this during a pandemic.”
He added: “The immediate future is looking more positive on the house building front with Persimmon Homes and Vistry Group announcing the reopening of their construction sites and Taylor Wimpey returning too.
“Demand for funding will get stronger and Kuflink is here to provide the finance for individuals and businesses to take advantage of the opportunities out there as the building sector reopens.
“Whilst no one knows exactly what a post Covid-19 world will look like or how much our economy and society will be changed, Kuflink has the funds, the service and the expertise to help advisers and their customers through this challenging period and into the future.”