LendingCrowd launches Refer a Friend promotion
LendingCrowd, the peer-to-peer (P2P) lender, has launched a £50 “refer a friend” promotion as it continues to experience strong demand from borrowers across the UK.
Following a record quarter for new loans and the rising popularity of its tax-free* Innovative ISA (IFISA) accounts, investors on the P2P lending platform will be given a £50 bonus when each friend they refer invests at least £2,000. Each friend will also receive a £50 referral reward.
LendingCrowd launched in late 2014 and is fully authorised by the Financial Conduct Authority. In February, it became one of the first P2P platforms to launch an IFISA. Its passive Growth ISA, with target returns of 6%, allows customers to build a portfolio of loans quickly without having to spend time choosing their own investments.
In May, the platform expanded its range with the LendingCrowd Self Select ISA, an active product that lets investors hand-pick their portfolio while earning tax-free returns*.
“We have more than 4,000 investors signed up with our platform and we’re keen to build our investment community to help support the ambitions of home-grown businesses, generating real knock-on benefits for the local economy,” said Stuart Lunn, co-founder and CEO of Edinburgh-based LendingCrowd.
“With official data showing that inflation has risen to 3%, its highest level since April 2012, investors are seeking ways of making their money work harder. LendingCrowd provides an easy way for them to diversify their investment portfolios while benefiting the UK’s SMEs.”
*Tax treatment depends on the individual circumstances of each client and may be subject to change in future.