CrowdProperty reported a 43 per cent rise in income and a 214 per cent improve in working revenue in its newest annual outcomes, however mentioned it will likely be “appearing with warning” going ahead as a consequence of continued macro uncertainty.

The residential growth lending platform posted working revenue of £1.184m for the yr ended 31 March 2023, up from £377,000 the earlier yr.

“That is the third consecutive, and most worthwhile yr for CrowdProperty, regardless of ongoing long-term funding in future scalability and expertise,” the agency mentioned in its annual outcomes, filed with Firms Home.

Learn extra: Constructing returns: Improvement finance

Mortgage volumes grew by 48 per cent year-on-year within the first half of the newest monetary yr however slowed within the second half, which CrowdProperty attributed to market uncertainty after the mini-budget.

The lender mentioned that finance purposes within the second half of the yr “gestated for longer within the pipeline” as builders saved a detailed eye on the transferring macro setting.

CrowdProperty secured new sources of funding over the past monetary yr, including a UK financial institution and British Enterprise Investments – the business arm of the British Enterprise Financial institution – to its checklist of institutional companions.

Wanting ahead, the corporate warned of “continued macro uncertainty and probably a recessionary setting” and mentioned it will likely be appearing with warning consequently.

“While a recession dampens the demand-side, there can be ongoing supply-side shortages, constraints in housing and an ongoing demand for well-secured, well-originated returns,” it mentioned.

“As CrowdProperty continues to handle capital in the identical prudent manner as up to now and additional enhances the skilled portfolio and recoveries groups, the market presents alternative for CrowdProperty to proceed to develop and construct an ever-stronger market share place within the fragmented growth finance market.”

Learn extra: Bristow: Secondary markets are “harmful”

CrowdProperty expanded its staff to 48 staff within the newest monetary yr, up from 45 beforehand.

CrowdProperty was based in 2013 and began lending in 2014, offering residential property growth finance for SME builders. It has lent over £370m thus far, repaying over £220m to buyers with common realised returns of seven.96 per cent.

It was awarded P2P Lending Platform of the 12 months, the Investor’s Alternative award and Property Improvement Lender of the 12 months at this yr’s Peer2Peer Finance Awards.