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RateSetter Tops the Quarter Billion Mark

The second largest consumer lending platform in the UK has now blasted by the quarter billion mark in terms of loans originated.

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AltFi Data watched as the platform surged past £250 million of loans over the weekend. RateSetter has now lent a grand total of £250,255,459. It’s a significant milestone for the ascendant platform – and one that serves to highlight an increasingly strong 2014 performance. RateSetter has added over £5.5 million thus far in June. Month on month this year the platform has averaged upwards of a 200% annualized growth rate, and in May it claimed the title of largest UK p2p platform in terms of monthly new loans originated.

Rhydian Lewis, Founder and CEO of RateSetter, commented:

“Now that peer-to-peer lending is regulated and overseen by the FCA, confidence in the industry is growing. The model is redefining modern finance – these things don’t happen over night but you can see serious momentum now.”

“We are thrilled to have passed the £250m mark – it was only last August that we passed £100m.”

“I am very grateful to all those adventurous people who have lent on RateSetter since we launched back in 2010 – it is always a bold step to put your hard-earned cash into something new, however solid the proposition.”

“We are liberating the saver from the poor value of the homogenous FSCS-backed savings accounts and giving them a fresh offering with good rates and a sense of control. We will keep investing to improve the experience and we will keep championing the retail saver.”

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