P2P lender hits record-breaking £500m

In another record, the Company lent over £43 million in January – the most ever lent by any P2P platform in a single month, beating the previous record, also held by themselves.

The business, set up less than five years ago, say they have capitalised on the nation’s growing dissatisfaction with traditional savings vehicles.
 
2015 is a year of much anticipation in the P2P sector, particularly in light of Hargreaves Lansdowne’s entry into the market, in addition to the building momentum over the last year with significant developments such as FCA regulation and ISA inclusion.

 RateSetter’s Founder and CEO, Rhydian Lewis commented:

“We’re on the brink of the most exciting change in the UK financial system in a generation, and we feel privileged that RateSetter is at the forefront of this change.
 
“Institutional investment, SME lending and new pensions freedoms will all further accelerate growth in the sector. As the industry matures we may well see a split in the market between platforms that transition towards institutional lending, in a similar manner to the US market, and those which remain consumer-focused at their heart.
 
“Our continued focus will be to act in the best interest of consumers, empowering investors to achieve greater returns with minimal risk.”