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Peer2Peer Finance News | July 18, 2018

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Crowdstacker joins the Peer-to-Peer Finance Association

Crowdstacker joins the Peer-to-Peer Finance Association
Marc Shoffman

CROWDSTACKER has joined the Peer-to-Peer Finance Association (P2PFA), becoming the self-regulated trade body’s eighth member.

The business lending P2P platform will be represented by chief executive Karteek Patel (pictured).

“The P2PFA plays an increasingly important role as our industry expands and develops,” Patel said.

“Crowdstacker has played a part in some of the industry’s important milestones such as being one of the first platforms to become fully FCA-authorised and one of the first to launch the Innovative Finance ISA.

“We felt it was important to be an active contributor to conversation that the P2PFA is leading on issues such as regulation, transparency and education, and ultimately help the industry move to become a mainstream funding and investment option.”

The P2PFA lost two members last year when LendInvest gave up its P2P permissions and RateSetter left, but has also appointed several associate members.

The firm joins fellow platforms Folk2Folk, Funding Circle, Landbay, Lending Works, Market Invoice, ThinCats and Zopa.

“Crowdstacker has much to contribute to the P2PFA,” Robert Pettigrew, director of the P2PFA, said.

“Across the diversity of business models within the peer-to-peer lending sector, there is a demonstrable appetite for platforms to demonstrate their commitment to the high standards of business practice and principles which membership of the P2PFA requires.”

Read more: Exclusive: Christine Farnish on the changing role of the P2PFA