RateSetter’s co-founder and CEO Rhydian Lewis is featured in the Queen’s Birthday Honours list.
Rhydian Lewis (pictured), co-founder and long-time CEO of peer-to-peer lending firm RateSetter, has received an OBE for services to financial services, making him an Officer of the Order of the British Empire.
Described as a “Peer to Peer and Financial Inclusion Innovator” in the Queen’s Birthday Honours list, Lewis founded RateSetter back in 2010 with the help of co-founder and chief operating officer Peter Behrens. RateSetter was among the first peer-to-peer lenders to launch, and introduced several changes to the model pioneered by Zopa in 2005.
RateSetter is perhaps best-known for its provision fund, a coverage mechanism which has so far meant that no investor has ever lost a penny by investing through the platform. The dynamic, demand-based method in which lending and borrowing rates are constantly adjusted across the online marketplace is another noteworthy innovation.
Lewis now joins Zopa chairman and co-founder Giles Andrews in holding an OBE, while Funding Circle boss Samir Desai holds a CBE (Commander of the Order of the British Empire). Andrews and Desai received their gongs in the New Year Honours list in 2015.
RateSetter hasn’t issued a formal comment, but suggested to AltFi that it was especially pleased to see the words “financial inclusion” used for describing Lewis’ contribution to financial services, since it has always been focused on creating a marketplace where investors can access real returns easily and simply.