Harmoney's first full-year results show loss

Financial statements show Harmoney lost $14.2 million in its first year of operation.

It generated $8.6m in revenue in the year.

In 18 months of operation, it has raised $30 million in working capital, assessed more than $2 billion in loan applications and faciliated more than $275 million in lending.

Across its portfolio, it now offers investors an 11.85 per cent average annual return. Since it started operating, just over 5.6 per cent of the money invested in the platform has been lost through loan defaults.