Harmoney lends $500m

Peer-to-peer lending website Harmoney has announced that over $500 million in lending has been transacted through their online platform since operations began in September 2014, with over 30,000 customers on the books. Of the 30,000 Kiwis to use the digital service so far, 11,978 has been for debt consolidation, 3,908 for home improvements, 3,111 for travel and 1,738 for used vehicles. “The growth has been fantastic, but the passion that comes from our community and their continued support for Harmoney is perhaps the most rewarding of all,” said chief executive Neil Roberts. Harmoney has a range of commercial backers as well as individual lenders, including Trade Me, who owns a 14 per cent share, TSB Bank and Heartland. After a successful launch in New Zealand, the website expanded to the Australian market in 2015.