Jump to content


From Wikipedia, the free encyclopedia

Company typeLtd.
IndustryFinancial technology, Peer-to-peer lending
FoundedApril 2013
HeadquartersLaunceston, Cornwall, UK,
Launceston, Cornwall
Key people
Roy Warren, Managing Director

Tim Sawyer, Executive Chairman

Louis Mathers, Director and Co-Founder
ProductsBusiness loan
Secured Investments
Number of employees

FOLK2FOLK is a Marketplace lending platform (MPL) specializing in secured lending for business owners across the rural and regional parts of the UK. It matches businesses looking for capital with individual (retail) and institutional investors who receive a fixed interest rate from 7.5% p.a.[1] secured against UK land or property. Investors receive the same interest rate that the Borrower pays, with FOLK2FOLK making its profit from an arrangement fee and annual renewal fee charged to Borrowers.[2]

Formed in 2013,[3] FOLK2FOLK is based on the idea that 'good folks' help other 'good folks', FOLK2FOLK enables money to be borrowed and lent based on the concept of 'fair exchange' and secured against land and property. FOLK2FOLK's stated purpose is to create prosperity for Britain's regions.[4] Since 2013, more than half a billion[5] has been invested via the platform with zero investor capital losses.[6]



FOLK2FOLK's Managing Director, Roy Warren, appointed in September 2019[7] was previously the company's Head of Risk & Loan Portfolio for four years. FOLK2FOLK's chairman is Tim Sawyer CBE, formerly CEO of Bank of Maldives and Chief Investment Officer of Innovate UK[8][3] the investment arm of the UK Government and a former CEO of Start-Up UK. In June 2022, the company appointed Gary Leitch as COO, who previously held managing director roles at Paragon and Lombard.[9]



FOLK2FOLK was founded in 2013 in Cornwall when the nation was still reeling from the global financial crisis, banks were withdrawing from many rural areas, funding for businesses was drying up, and savers were receiving rock-bottom levels of interest.[3] The company was founded to help solve this local problem but has since grown to expand nationally to help rural businesses across the UK.[10]



FOLK2FOLK is authorized and regulated by the Financial Conduct Authority.[11][12]



FOLK2FOLK borrowers come from a variety of sectors, including renewable energy, property development, agriculture, hospitality, leisure, and tourism facilities, and land and property acquisition.[13]

Loan Milestones


After its first year in business (April 2014), FOLK2FOLK had secured £22m in loans.[14]

By March 2015, FOLK2FOLK had introduced almost £50m of funding to borrowers predominantly in Cornwall and Devon.[15]

By November 2015, it had introduced over £75 million of funding from its lenders.[16]

In June 2016 the company had passed the £100m milestone of loans funded.[17]

In August 2016, it had secured £107m worth of loans.[18]

By August 2017 it had secured £176m in loans.

By October 2018 it had secured £250m in loans.[19]

In September 2019 FOLK2FOLK achieved £300m in loans.[20]

In January 2021, FOLK2FOLK achieved £400m in loans.[21]

In January 2022, FOLK2FOLK announces a cumulative lending of £500m.[22]

Other Milestones


In October 2014, FOLK2FOLK chose Crediton as the location for its first agency outside of Cornwall.[23] The expansion has helped over 100 new homes to be built[23] and created new jobs.

In August 2015, the firm introduced funding to kick start a mixed-use development project that will help facilitate infrastructure for Cornwall's 6,000-seat sports stadium.[24]

In the same month, it announced the appointment of Stifel, a global wealth management and investment banking firm, as its financial adviser.[25]

In January, 2016, the company announced the creation of a 'legal panel' to support its national roll-out strategy.[26] This national network of local law firms carries out the legal work necessary to complete loans in their locality and provides FOLK2FOLK with local knowledge as part of the security process.

In February 2016, it looked to place shares in the value of £3.5m. The offer consisted of £1.5m in new shares and £2m in shares offered by the founders.[27]

According to Altfi Data: "FOLK2FOLK has seen year-on-year growth of 433% from August 2015 which compares favorably to the 60% growth of UK P2P (peer-to-peer) business lenders over the same time frame."[13]

In August 2016, FOLK2FOLK moved into their new national headquarters at Number One, Launceston.[28]

In January 2018, FOLK2FOLK launched The Local Lending Movement and FOLKONOMICS.[29]

In September 2019, appointed Roy Warren as Managing Director.[7]

In May 2020, the company announced it had achieved profitability.[30]

In July 2020, FOLK2FOLK was accredited by the British Business Bank to deliver CBILS loans.[31]

In July 2020, FOLK2FOLK announced its partnership with Cross Lend.[32]

In February 2021, FOLK2FOLK announced its evolution from a P2P platform to a Marketplace lending platform.[33]

In June 2022, FOLK2FOLK appointed Gary Leitch as COO.[34]

How it Works


FOLK2FOLK introduces people and institutions with at least £20,000 to invest to businesses looking for finance of at least £100,000. The company requires loans to be secured by land or property owned by the borrower but not the borrower's home.[13] Investors are high net worth individuals or institutions.[35]

It aims to enable businesses to access finance in weeks not months.[3]


  1. ^ Riches, Adam (7 February 2023). "Folk2Folk raises rates as it seeks to attract Assetz Capital investors". Peer2Peer Finance News. Retrieved 28 March 2023.
  2. ^ "Loans | Folk2Folk". folk2folk.com. Retrieved 14 October 2017.
  3. ^ a b c d Eyriey, Nick (8 April 2013). "Peer-to-peer lending company launched in Launceston | Business Cornwall". businesscornwall.co.uk. Retrieved 7 September 2016.
  4. ^ "Our Purpose". FOLK2FOLK.
  5. ^ "Unique P2P Lender Folk2Folk Tops £500 Million In Lending - Crowdfund Insider". www.crowdfundinsider.com. 20 January 2022. Retrieved 22 June 2022.
  6. ^ "UK based P2P Lender Folk2Folk Says it's Still Open to Retail Investors, with £400M+ Invested via Platform and Zero Losses". Crowdfund Insider. 3 March 2021. Retrieved 8 March 2021.
  7. ^ a b Alois, J. D. (27 September 2019). "Local Focused P2P Lender Folk2Folk Appoints New Managing Director". Crowdfund Insider. Retrieved 12 December 2019.
  8. ^ "Tim Sawyer CBE - GOV.UK". gov.uk. Retrieved 24 October 2018.
  9. ^ Baird, Roger (22 June 2022). "Folk2Folk brings in Leitch as COO". Mortgage Finance Gazette. Retrieved 22 June 2022.
  10. ^ Gaw, Kathryn (5 March 2021). "Folk2Folk eyes £100m from institutions as it expands nationally". Peer2Peer Finance News. Retrieved 23 June 2022.
  11. ^ "FCA Publication" (PDF).
  12. ^ "FCA Interim Permission Consumer Credit Register". Retrieved 25 February 2017.
  13. ^ a b c "Award Winning P2P Lender Folk2Folk Doubles Business in 2015. Targets National Expansion for 2016". Crowdfund Insider. 18 December 2015. Retrieved 7 September 2016.
  14. ^ "Cornish peer-to-peer lender facilitates £22m loans in just 12 months". 20 March 2014. Archived from the original on 6 April 2014. Retrieved 7 September 2016.
  15. ^ "Peer-to-peer lender Folk2Folk injects £8.3m into South West economy since January". 24 March 2015. Archived from the original on 19 June 2015. Retrieved 7 September 2016.
  16. ^ "Peer-to-peer lender Folk2Folk awarded Best Lending Platform for Small Businesses by AltFi". 16 November 2015. Archived from the original on 17 November 2015.
  17. ^ "Folk2Folk appoints CMO and four BDMs". bridgingandcommercial.co.uk/. 15 June 2017.
  18. ^ "Folk2Folk: Local, secured peer to peer lending". folk2folk.com. Retrieved 7 September 2016.
  19. ^ Evershed, Tim (16 October 2018). "Folk2Folk reaches £250m lending landmark". Peer2Peer Finance News. Retrieved 12 December 2019.
  20. ^ Neuwirth, Suzie (2 September 2019). "Folk2Folk loanbook hits £300m". Peer2Peer Finance News.
  21. ^ Lloyd, Michael (11 February 2021). "Folk2Folk exceeds £400m in lending | Peer2Peer Finance News". Retrieved 8 March 2021.
  22. ^ Lloyd, Michael (20 January 2022). "Folk2Folk passes £500m lending milestone". Peer2Peer Finance News. Retrieved 22 June 2022.
  23. ^ a b "Peer-to-business lending firm opens first Devon agency as part of growth plan". 7 October 2014. Retrieved 7 September 2016.[dead link]
  24. ^ "Peer-to-peer lender Folk2Folk introduces funding to kick start Cornwall Stadium project". 24 August 2015. Archived from the original on 26 August 2015. Retrieved 7 September 2016.
  25. ^ "Cornish Platform Appoints Financial Advisor - AltFi News". Retrieved 7 September 2016.
  26. ^ "Folk2Folk Launches Legal Panel to Support National Expansion". Crowdfund Insider. 25 January 2016. Retrieved 7 September 2016.
  27. ^ "Folk2Folk to Raise 1.5M to Aid National Expansion". 16 February 2016. Retrieved 7 September 2016.
  28. ^ "Brief: Folk2Folk P2P Lender Opens New National Office to Accommodate Expanding Business". Crowdfund Insider. 28 July 2016. Retrieved 7 September 2016.
  29. ^ "Folk2Folk launches local lending movement". bridgingandcommercial.co.uk. Retrieved 24 October 2018.
  30. ^ "P2P lender Folk2Folk achieves profitability following cost-cutting". AltFi. Retrieved 23 July 2020.
  32. ^ "Folk2Folk strikes deal with German debt marketplace platform". AltFi. Retrieved 23 July 2020.
  33. ^ Gaw, Kathryn (5 March 2021). "Folk2Folk eyes £100m from institutions as it expands nationally | Peer2Peer Finance News". Retrieved 8 March 2021.
  34. ^ Bryan Hay (22 June 2022). "Ex-Paragon and Lombard MD joins FOLK2FOLK as COO". The Intermediary. Retrieved 22 June 2022.
  35. ^ Shoffman, Marc (5 May 2020). "Folk2Folk lining up more institutional lending partnerships". Peer2Peer Finance News. Retrieved 23 July 2020.