Linked Finance reaches €200 million milestone

Irish peer-to-peer lender Linked Finance has surpassed the milestone of 200 million euros worth of lending. More than 3,300 SMEs have received this funding since Linked Finance launched in 2013. The news comes 18 months after the platform reached its last milestone of 150 million euros in lending.

Linked Finance is a peer-to-peer investing platform from Ireland, which was founded in 2013. It plans to lend up to 45 million euros to SMEs this year. It also expects to reach an annual lending of 100 million euros by the end of 2024.

‘Retail, transport and construction caused most of Linked Finance’s growth.’

Most of the lender’s recent growth came from retail, transport and construction sectors. Since its launch, the platform has granted most loans to businesses in Dublin (72 million euros) and Cork (17 million euros). “We pride ourselves on providing a model that is efficient and transparent, allowing Irish businesses to take control of their finances and meet their objectives”, said Niall O’Grady, CEO at Linked Finance.

Investors have earned €19.4 million

According to the lender, investors on the platforms have earned 19.4 million euros in interest since 2013. Investors with a diversified portfolio of around 50 loans have typically made annual returns of over 8 percent.

‘Our platform is important when the banks are too slow for SMEs.’

“Linked Finance is particularly important when the banks are either too slow for SMEs or leaving the country completely. Our platform regularly connects Irish SMEs with retail lenders who recognize their enormous potential and want to invest in them.”

New products

“Linked Finance is introducing new products and increasing limits on existing loans to ensure we stay ahead of the banks.” Last year, it launched an open banking-powered credit application process for SMEs, as well as a Merchant Cash Advance product in March. Additionally, it changed its maximum loan size in June from 300,000 to 500,000 euros.