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Asset-backed peer-to-peer lender raises cash for broker platform

Ablrate said the platform will boost its ability to write new loans.

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Ablrate has launched a cash call to fund a new broker platform that aims to boost growth at the peer-to-peer lender.

The Henley-on-Thames firm has began fundraising among private investors on crowdfunding site Crowdcube, adding that it has so far raised £100,000 of its £350,000 target.

Ablrate, which focuses on asset-backed loans, said it has been working on a new platform for brokers and third-party partners to more easily manage deals.

Ablrate director of business development, Alex Benger, said: "We have been working with our IT team to add a platform to Ablrate that can be used by brokers, both in-house and external, to manage their deal flow on Ablrate, along with their commissions and fees, borrower clients and deal messaging document coordination."   

The business plans to roll out the platform to regional in-house brokers and broker partners, which it believes will boost its lending.

Ablrate has agreed £44m in loans, with £33m traded on its secondary market, since it was launched in 2014. The firm was initially launched to service the aircraft leasing sector, the platform quickly grew to finance other asset backed transactions from a bottling plant to a waste management park .

The platform, led by founder and chief executive David Bradley-Ward (pictured), said over the last three years it has boosted revenues to £1.7m from £100,000. 

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