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Peer2Peer Finance News | November 16, 2018

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Assetz has paid back £50m of interest to investors

Assetz has paid back £50m of interest to investors
Suzie Neuwirth

ASSETZ Capital has paid back more than £50m of interest to its investors since launching five years ago.

“When we started Assetz Capital we committed to growing the business in a balanced, sustainable way that would benefit investors, borrowers and shareholders equally,” said chief executive Stuart Law.

“At a time of low interest rates and sluggish growth, it’s very encouraging that we have delivered £50m gross interest to our investors – with plenty more to come in the future.”

The peer-to-peer business lender was recently named in this year’s Sunday Times Hiscox Tech Track 100 as one of the UK’s fastest-growing tech firms.

Last month, it said it has lent out £590m since launching in 2013 and has attracted over 28,000 users to its platform.

The Manchester-based firm combined its announcement about the £50m interest milestone with a new refer-a-friend investor incentive.

The platform will pay £75 to existing investors if they recommend a friend or family member who goes on to invest £1,000 or more.

Read more: Assetz Capital hires new chief risk officer

The new customer will also receive a £50 cash bonus if they continue to invest through the platform for 12 months.

“The refer-a-friend scheme is another way that we are thanking our investors for their continued support,” said Law. “We know the majority of our users become Assetz Capital advocates and then recommend the platform to others, and this new facility allows us to reward them directly.”