RateSetter passes £2.5bn of lending

By Daniel Lanyon on Friday 25 May 2018

Editor's PickAlternative Lending

The platform is gearing up for further growth following the launch of its ISA product three months ago.

RateSetter passes £2.5bn of lending
Image source: https://goo.gl/ftbdYH

P2P lending platform RateSetter passed more than £2.5bn of lending across business and consumer categories.  

Ratesetter's latest milestone comes just after it revealed that it had generated £100m in interest for its investors. It also launched its Innovative Finance ISA (IFISA) just three months ago. 

The £2.5bn of finance has been provided to more than 460,000 borrowers, RateSetter says, with more than £1.55bn lent to individuals and almost £950m lent to businesses.

RateSetter, which launched in October 2010, says that investors have earned an average annual return of 4.4 per cent to date. Peter Behrens, RateSetter’s chief lending officer, says more than half a million investors and borrowers have used the RateSetter platform.  

“Reaching this milestone shows how deep and broad our marketplace has become in space of just eight years, and we look forward with great excitement to helping even more people access investment in loans as we work towards the next £2.5bn of lending.”

65,000 people have RateSetter investment accounts.

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