RateSetter concludes funding round
Peer-to-peer finance website RateSetter.com has announced the conclusion of a fundraising round which has seen the company raise £1.5m.
The raise was oversubscribed and was completed in a matter of weeks. RateSetter.com launched in 2010 and matches Savers with creditworthy individuals looking for a personal loan.
With 70,000 registered members RateSetter has matched over £10 million, with every lender receiving every penny of expected capital and interest.
The fundraising was very well supported by its existing shareholders, including Charles Peel who founded Peel Hunt, and there was strong demand from new investors who include John Chatfeild-Roberts, one of the City’s most successful fund managers.
This is the third fundraise for RateSetter, taking the total investment to £3m.
RateSetter founder and CEO, Rhydian Lewis said:
“We are delighted to have been able to raise the money so quickly especially given the very tough investment environment we are in.
"Peer to peer doesn’t need to be too capital intensive but it does need serious investment and we are pleased that some very savvy financial brains have bought into RateSetter’s growth potential."
With 70,000 registered members RateSetter has matched over £10 million, with every lender receiving every penny of expected capital and interest.
The fundraising was very well supported by its existing shareholders, including Charles Peel who founded Peel Hunt, and there was strong demand from new investors who include John Chatfeild-Roberts, one of the City’s most successful fund managers.
This is the third fundraise for RateSetter, taking the total investment to £3m.
RateSetter founder and CEO, Rhydian Lewis said:
“We are delighted to have been able to raise the money so quickly especially given the very tough investment environment we are in.
"Peer to peer doesn’t need to be too capital intensive but it does need serious investment and we are pleased that some very savvy financial brains have bought into RateSetter’s growth potential."
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