Today is Wellesley & Co.’s First Birthday! The initial year of trading saw rapid developments throughout the company and has allowed the business to hit targets and milestones monthly.
Wellesley & Co. has been a Peer-to-Peer platform that has seen great growth within it’s first year. The company funded the largest loan in P2P history in April worth £8.3m, this was shortly beaten by Wellesley once again, to fund an impressive £10.8m loan which was secured against the historic mansion Burwalls. Burwalls is situated next to the iconic Clifton Suspension Bridge and the Avon Gorge in Bristol.
In September, Wellesley & Co. won The Fastest Growing P2P Platform at the AltFi Awards, this award reflected the receptiveness of the industry to Wellesley and their unique business model. Furthermore, Wellesley also hit £100m worth of loans funded within their first year! This landmark was reached in October and illustrated that lender’s funds were being lent out to borrowers proportionately. With this evident rapid growth, Wellesley were required to expand their employee size two fold and are in the process of recruiting further.
The future of Wellesley & Co. is an exciting landscape, with regulatory changes including the consultation on ISA inclusion for Peer-to-Peer lending, all aimed to boost the availability of alternative finance to borrowers and lenders alike, the sector is diversifying rapidly. Wellesley & Co. feel they are at the epicentre of this growth and are on an upward trajectory to become a large market share. The company look forward to another successful year!