28 days later…Assetz Capital’s rate rise attracts £10m 

By Daniel Lanyon on 19th June 2018

P2P/Marketplace Lending

The platform’s first ever rate rise saw investors adding to their Access Accounts in the first month. 

28 days later…Assetz Capital’s rate rise attracts £10m Image source: https://goo.gl/YvhiW4

Peer-to-peer business lender Assetz Capital has seen strong inflows in the first month since it announced an interest rate rise for investors, according to a statement by the platform.

Assetz movedits  target interest rates for its Quick Access Account and 30-Day Access Account from 3.75 per cent to 4.10 per cent and from 4.25 per cent to 5.1 per cent, respectively. The rate increase was announced on 16th May 2018 but was effective from 1st May 2018. 

Investors are able to access the rate increase across both ISA-wrapped and non-ISA accounts.

Stuart Law, CEO at Assetz Capital says borrower demand remains high.

“We’ve been very encouraged by the reaction to the rate rise by our existing lender base and have welcomed plenty of new investors to the fold too – many of whom are opting for an ISA-wrapper and transferring existing ISAs onto the platform.

Law adds that the inflows of new cash since the rate rise has helped Assetz’ ISA pot to reach more than `£50m since its launch six months ago.

 “We continue to see the average balance of individual investors actually grow month-on-month, with average investment for invested lenders growing to around £23,000 per account, and we have serviced over £768 million of withdrawal requests on time, every time for our investors to date within the Access Accounts,” he added.


AltFi Amsterdam Summit 2018

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.

5th November 2018

Companies in this Article:

Assetz Capital

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