Monetus
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Post by Monetus on Aug 6, 2018 22:00:22 GMT
I noticed that co-founder and director Tim is mysteriously missing from the Lendy website these days. lendy.co.uk/aboutCompanies House shows him as still being a partner (for now) but his LinkedIn also seems to suggest that he actually left Lendy back in July 2018: " Previous Director & co-founder of Lendy, Europe's largest secured lending P2P platform."Did it all get too much I wonder? |
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sj
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Post by sj on Aug 6, 2018 23:06:15 GMT
Lucky Tim... shame some of us can't leave so easily.
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copacetic
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Post by copacetic on Aug 6, 2018 23:39:52 GMT
A co-founder leaving could be a concern for the company but to be fair there are plenty of valid reasons such as health or family that could explain him leaving. Best not to speculate too harshly until we know some facts. Perhaps Lendy Support would like put out a statement since it is relevant to the company image and possible future direction though.
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elliotn
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Post by elliotn on Aug 7, 2018 4:14:52 GMT
Are they bigger than LI? >536M vs >400M.
Perhaps they are excluding them as P2P but they are direct lenders facilitating online, secured lending like Tim used to.
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Post by samford71 on Aug 7, 2018 7:11:59 GMT
Are they bigger than LI? >536M vs >400M. Perhaps they are excluding them as P2P but they are direct lenders facilitating online, secured lending like Tim used to. LendInvest are much bigger than Lendy. LI has originated £1.65bn in loans compared to Lendy at £409mm. It worth remembering that Lendy did their first loan in 1H13. It took them until 4Q15 to get origination volumes up to just £50mm. They then had an explosive expansion to £300mm by just 2Q17 (so £250mm in just 15 months). So far this year they have printed just £49mm in loans. This compares to LI at £259mm. In fact, looking at property P2P lenders, Lendy are now fourth after LI, Octopus (£80mm) and Landbay (£60mm). In terms of volumes in 2018 for all P2P lenders, they rank number 10 with FC, Zopa, RS, AC, MarketInvoice and Folk2Folk all ahead of them. At one point they probably ranked number 4 or 5. Volumes are not everything, of course. Lendy's edge vs. other platforms was the margin they extracted from lenders. That huge margin, combined with £250mm in origination in just 15 months, was the reason for the large profits (it was also this expansion which caused the legacy problems). Their team is now much bigger than in 15/16. Combined with lower volumes, you would expect their profitability to have diminished.
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sj
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Post by sj on Aug 7, 2018 10:28:28 GMT
How does that saying about leaving sinking ships go again? 
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Post by boudicca on Aug 7, 2018 10:33:05 GMT
How does that saying about leaving sinking ships go again? I think rats are mentioned.
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Post by boudicca on Aug 7, 2018 11:09:43 GMT
Understand Lendy have recently been given full FCA approval, some connection maybe.
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Post by charliebrown on Aug 7, 2018 12:00:28 GMT
Are they bigger than LI? >536M vs >400M. Perhaps they are excluding them as P2P but they are direct lenders facilitating online, secured lending like Tim used to. LendInvest are much bigger than Lendy. LI has originated £1.65bn in loans compared to Lendy at £409mm. It worth remembering that Lendy did their first loan in 1H13. It took them until 4Q15 to get origination volumes up to just £50mm. They then had an explosive expansion to £300mm by just 2Q17 (so £250mm in just 15 months). So far this year they have printed just £49mm in loans. This compares to LI at £259mm. In fact, looking at property P2P lenders, Lendy are now fourth after LI, Octopus (£80mm) and Landbay (£60mm). In terms of volumes in 2018 for all P2P lenders, they rank number 10 with FC, Zopa, RS, AC, MarketInvoice and Folk2Folk all ahead of them. At one point they probably ranked number 4 or 5. Volumes are not everything, of course. Lendy's edge vs. other platforms was the margin they extracted from lenders. That huge margin, combined with £250mm in origination in just 15 months, was the reason for the large profits (it was also this expansion which caused the legacy problems). Their team is now much bigger than in 15/16. Combined with lower volumes, you would expect their profitability to have diminished. Lendy is the biggest originator of default loans. I think that’s what they meant to say.
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nsinvestor
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Post by nsinvestor on Aug 10, 2018 9:56:13 GMT
Companies House updated today - Tim has resigned as a director of Lendy Group and is no longer a PSC. Liam is now shown as owning 75% or more of the shares.
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dandy
Posts: 427
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Post by dandy on Aug 10, 2018 10:25:28 GMT
Companies House updated today - Tim has resigned as a director of Lendy Group and is no longer a PSC. Liam is now shown as owning 75% or more of the shares. I wonder how much Tim paid
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Post by charliebrown on Aug 10, 2018 11:20:25 GMT
Companies House updated today - Tim has resigned as a director of Lendy Group and is no longer a PSC. Liam is now shown as owning 75% or more of the shares. I wonder how much Tim paid How much was in the PF
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Post by p2plender on Aug 10, 2018 13:16:14 GMT
what's 75% of nothing worth?  |
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Post by p2plender on Aug 10, 2018 13:30:04 GMT
Most expected this do you not think?
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TenKay
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Post by TenKay on Aug 10, 2018 17:32:40 GMT
maybe he has morals and disagreed with the way his company was operating
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