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The Business Magazine July 2024
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FOLK2FOLK announces record turnover and investor returns

The Business Magazine article image for: FOLK2FOLK announces record turnover and investor returns
Roy Warren, managing director of FOLK2FOLK
18 June 2024
Roy Warren, managing director of FOLK2FOLK

FOLK2FOLK, a leading Peer-to-Peer lending platform for businesses, returned a record £15.78 million in interest to investors in the 2023/24 tax year, alongside a record turnover of £5.282 million, according to its latest annual results. 

The Cornwall and Gloucestershire based business, which operates nationwide, helps business owners across the UK access the finance they need to grow, develop, or diversify while providing fixed-rate, property-backed returns to retail and institutional investors, currently from 8.75% p.a. Since 2013, FOLK2FOLK has facilitated over £690m in business loans.

For the year ended 31 January 2024, FOLK2FOLK reported a slight decrease in profit before tax to £1.284 million from £1.374 million in the previous year, due to ongoing fintech investment. Despite this the business said it had continued to show robust financial performance and sustained growth. This marked the fifth consecutive year of profit, and the third year of paying shareholder dividends, demonstrating the company’s financial stability and resilience, it said.

Key Highlights:

  • Turnover: achieved record turnover of £5.282 million up almost 7% on the year before (£4.94m), continuing a consistent upward trend.
  • Profit Before Tax: posted a pre-tax profit of £1.284 million, demonstrating the company’s ability to maintain profitability in a challenging economic environment.
  • Interest Payments: distributed £15.78 million in interest to investors, underscoring the platform’s commitment to delivering excellent returns, currently from 8.75% p.a.
  • Dividends: paying out dividends to shareholders for the third consecutive year, reflecting ongoing financial health and commitment to shareholder value.

Roy Warren, Managing Director of FOLK2FOLK, said: “I am delighted to announce another successful year for FOLK2FOLK, marked by our highest ever turnover and substantial interest payments to our investors. This reflects the trust and confidence that businesses and investors have placed in FOLK2FOLK.

“Maintaining a profitable platform is crucial for the confidence of our investors and the health of the wider P2P sector. Our strong performance is testament to the strength of our business model, the loyalty of our investors, and the dedication of our team.”

Mr Warren added that FOLK2FOLK has continued to support regional UK economies by providing essential funding to small businesses, enabling them to start, grow, or diversify. This financial support has facilitated job creation, strengthened supply chains, enabled property developments, and funded new local attractions, thereby bolstering visitor economies and contributing to the overall prosperity of these regions, he said.

FOLK2FOLK is regulated and authorised by the Financial Conduct Authority. It is also a delivery partner of British Business Investments, a commercial subsidiary of the Government-backed British Business Bank, whose remit is to improve access to alternative finance for smaller businesses across the whole of the UK.


Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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