Home Peer to Peer Lending Lendahand Ethex swings into pink throughout “powerful 12 months”

Lendahand Ethex swings into pink throughout “powerful 12 months”

Lendahand Ethex swings into pink throughout “powerful 12 months”


Lendahand Ethex fell right into a loss final 12 months, in what it described as a “powerful” interval for its buyers.

The moral funding platform, which trades underneath the title Energise Africa, is a three way partnership owned by European impression investing platforms Ethex and Lendahand. It funds renewable power tasks throughout Africa.

It posted a lack of £266,370 for the 12 months to 31 December 2022, in comparison with a £64,791 revenue the earlier 12 months, in keeping with paperwork filed with Firms Home.

Learn extra: Lendahand companions with impression investor to achieve extra debtors

“Energise Africa’s platform volumes have been down in 2022, and it was a troublesome 12 months for our investee shoppers, who straight skilled the knock-on results of Covid and war-induced inflation on small companies in rising economies,” mentioned Lisa Ashford, chief government of Energise Africa.

“Nevertheless, regardless of the rise in rates of interest accessible from different funding merchandise, we now have seen a constructive shift in momentum for investments in our direct funding alternatives in high-impact clear power tasks and investor demand has remained strong.

Learn extra: Lendahand and Energise Africa ink funding partnerships with CEI Africa

“Due to its sturdy money place, the corporate has been in a position to proceed investing in diversifying its funding presents, platforms, and product improvement, all of that are paying off with a rising and wholesome pipeline.”

The corporate was owed £1,557,242 from different collectors as of the top of 2022.

Learn extra: Lendahand recertified as B Corp after “difficult” evaluation

Ashford mentioned that this represents grants obtained that aren’t but recognised as revenue, quite than borrowings or quantities as a consequence of third events.

“General, the corporate’s stability sheet and liquidity place have been sturdy on the finish of 2022,” she added.



Please enter your comment!
Please enter your name here