Assetz eyes Q4 IFISA launch after receiving full authorisation.
Assetz Capital’s wait is finally over. After nearly two years of labouring under interim permissions, the secured P2P lender has been granted full authorisation by the FCA.
The platform says it is in the final stages of completing work on its Innovative Finance ISA, which it says will be rolled out in the fourth quarter of this year.
Assetz Capital is one of the largest peer-to-peer lenders outside of the “big three”. The business lender has lent over £317m to date, including more than £122m in 2017 alone, according to AltFi Data. Its unique selling point to investors is that all of its loans are secured against and a range of assets, predominantly property.
“Our focus remains to ensure the growth and security of our lenders’ investments, as well as the success of our borrowers’ businesses,” he said. “Our team has done fantastically well to deliver such success to all of our stakeholders over the last few years and yet there is also so much more to achieve ahead of this milestone and we are all excited about the continuing journey.”
The majority of the UK’s biggest peer-to-peer platforms are now authorised. RateSetter, which lends to businesses, individuals and property developers, is a notable exception.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.