The Manchester-based platform plans to launch new products and double staff numbers.
Peer-to-peer business lender Assetz Capital is in the middle of a £1m fundraising, but its board continues to weigh up a flotation.
The Manchester-based firm has so far raised just under £700,000 on its third equity crowdfunding campaign via Seedrs, as it bids to launch new products and secure further institutional funding.
But the board of the property-secured lender maintains an eye on larger rival on Funding Circle, which secured a £1.5bn flotation in London last October, even though the firm’s shares has consistently traded below its 440p per share launch price since then.
It adds it will launch a new line of smaller, mass market secured lending products such as mainstream commercial mortgages and residential property refurbishment loans sourced through national brokers and distributors.
The platform, launched in 2013, says its 30,000 lenders have funded over £750m of facilities, earning themselves £70m in interest payments to date.