P2P lender RateSetter lends £25m in one month

In July, the company became the first to pass £25m lent in a single month.
 
The company’s pioneering Provision Fund, into which each borrower pays a contribution dependent on their risk profile, has ensured that no saver has lost a penny since the platform launched in 2010. This minimal risk profile is highlighted by the risk score of 1, similar to cash accounts, that has been given to RateSetter’s products by top research agency FE.
 
Rhydian Lewis, Founder and Chief Executive of RateSetter, said:
 
“We have emerged as the leading UK P2P platform at a time when the industry is consolidating its position as a genuine rival to traditional financial institutions.”
 
“As the only P2P company worldwide to have a risk rating, and with the benefit of our market-leading Provision Fund, RateSetter is the go-to platform for savers looking for low risk and high return.”
 
“RateSetter was conceived with the consumer’s best interests at heart and this will continue to be our focus. We have appointed Alan Hughes, who led First Direct’s success, as our first Chairman to further improve customer experience.”
 
“We will also continue to partner with like-minded companies to disrupt the market in order to offer improved finance solutions for Britain’s consumers.”