Newcastle United Executive Club Partners Kuflink, almost doubled its profits in 2022 following a record year of lending.
Kuflink is a Peer to Peer Platform and a Bridging Lender. Their purpose is to connect people to financial freedom.
Kuflink is an award-winning Bridging Lender (since 2011) that offers fast, flexible short- term loans and can lend to most types of credit ratings. They can get you money in 5 days.
During the 12 months ending 30 June 2022, the Kuflink Group – the parent entity of Kuflink Limited and Kuflink Bridging – reported a post-tax profit of £729,122, up from £462,555 the previous year.
The platform has achieved profitability every month since August 2021.
Based on these figures, Kuflink has forecast a profit of £1.8m for 2023, rising to £4.6m in 2024 and £8m in 2025.
By 2026, the company expects to have a turnover of £37m and profits of £11m.
Chief executive Narinder Khattoare said he was pleasantly surprised by the results, which he described as “phenomenal”. He added that by the end of December 2022, the platform had logged profits of £1.1m for the 2022/23 financial year.
“December was fantastic for us as a business,” Khattoare told Peer2Peer Finance News.
“This year is going to be a fantastic year for us as a business and I think we will excel and do over and above what our forecast says.
“People here are motivated and its good to see people coming into the office and coming in with a smile on their face. We aren’t cutting back – we’re still hiring. The doors always open to new investors and new people who can help us internally.”
Kuflink has made a number of new hires in recent months to bolster its investor relations, marketing, sales and underwriting teams.
The company added that it is in discussions with institutional investors about introducing a structured funding line to complement its retail peer-to-peer lending business.
“Our meticulousness, calibre and experience of people, business track record and distinguished business model attracts more and more lenders who are looking to work with our proven high-quality platform,” Kuflink wrote in its year-end financial statement.
“It has also enabled the business to liaise with institutional funders which we hope will drive the business forward in the coming year.”
As part of its growth plans, Kuflink also intends to launch new products and services in the coming months.
To find out more about Kuflink, visit: https://www.kuflink.com/