Folk2Folk’s investor community earned £14.2m in interest during the 2022/23 tax year, the company has confirmed.

The lender – which is the largest P2P platform in the UK – said that the figure highlights Folk2Folk’s “commitment to fostering financial growth for both investors and small businesses alike.”

“We are thrilled to witness the remarkable success of our investors, who play a crucial role in fuelling economic growth within local communities,” said Roy Warren, managing director of Folk2Folk.

Read more: Warren: “Not all P2P is high-risk investment”

“Our platform’s ethos has always been centred around connecting people and enabling investment in a transparent and impactful manner.

“This milestone highlights the value of our approach and the positive outcomes it delivers.”

Since it was founded in 2013, Folk2Folk has funded more than £628m in business loans, backed by property or land. Investors can earn returns of 8.75 per cent or more, and all investments can be protected from taxation through an Innovative Finance ISA.

Read more: Folk2Folk reports fourth year of profit and recommits to retail

The platform noted that its investors have contributed to job creation, rural development, and the overall vitality of local economies.

“As Folk2Folk looks ahead, it remains committed to its mission of supporting local businesses while delivering compelling returns to its dedicated investor community,” said a company spokesperson.

“The platform’s approach to lending, combined with its emphasis on making a positive impact on Britain’s regional economies, positions it at the forefront of responsible finance.”

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