Gen H has announced that it has achieved its first ever monthly profit in November 2024, powered by 500% growth in monthly revenue since the start of 2024.

Demand for the lender’s products, including its income booster and deposit booster features, has grown considerably over recent months.

Gen H was co-founded by William Rice and Sophia Guy-White with a mission to increase access to homeownership across the UK. The company began lending in 2020, and has helped thousands of people from different walks of life realise their dreams of homeownership.

With Gen H Legal, its independent conveyancing arm, the lender has evidenced strong demand for a joined-up transaction experience and will increase investment in the coming year into fixing a broken homebuying experience.

William Rice (pictured), chief executive officer at Gen H, said: “I am proud to announce that Gen H turned a profit for the first time in November 2024. This is a massive achievement for our team, who have shown remarkable spirit and tenacity to scale the business in the face of the substantial market headwinds of recent years.

“At the heart of this business is a shared belief in the good that homeownership can bring to a person, a family, and a community – and we are as committed to this cause as we were on day 1. 2024 has been huge for us, and we’re all looking forward to an even bigger 2025.”