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Peer2Peer Finance News | September 23, 2017

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Industry News

P2P lenders prepare investors for sort code changes under bank reforms

September 22, 2017 |

PEER-TO-PEER lenders are starting to inform investors about new sort codes on their client money accounts as a result of major banking reforms.

The Banking Reform Act mandates the UK’s banks to separate their retail banking services from their riskier … Read More

Invest & Fund hires ex-banker Adam Barrett to woo institutions

September 22, 2017 |

INVESTMENT banking veteran Adam Barrett has joined Invest & Fund to help boost the peer-to-peer property lender’s access to institutional investors.

Barrett joins the fintech space after more than three decades in investment banking. He was previously the head of institutional … Read More

JustUs plans October IFISA launch after gaining HMRC approval

September 21, 2017 |

JUSTUS has been approved as an ISA manager by HMRC and said it is “just weeks away” from launching its Innovative Finance ISA.

The peer-to-peer lender, which is backed by advertising veteran Sir John Hegarty, gained full authorisation from the … Read More

Lending Works to raise five-year lender rate to 5.5pc

September 21, 2017 |

LENDING Works is hiking its five-year lender rate to a 13-month high of 5.5 per cent on Monday, due to rapid growth in origination volumes.

Its current five-year rate is 5.2 per cent.

The peer-to-peer consumer lender said that it … Read More

British Business Bank’s commercial arm unveils big jump in profits

September 21, 2017 |

BRITISH Business Investments, the commercial arm of the British Business Bank (BBB), has announced pre-tax profits of £55.1m in its latest annual results, a 37 per cent increase on the previous year.

The British Business Bank (BBB) was set up … Read More

MarketInvoice’s losses doubled in 2016

September 20, 2017 |

MARKETINVOICE saw its losses double during 2016, as the peer-to-peer invoice finance platform continues to use funds to scale up.

Its latest accounts on Companies House for 2016 showed a loss before taxation of £6m, increasing from £3.1m in 2015.

Read More

LendingCrowd tops 200 cumulative loan deals after record month

September 20, 2017 |

LENDINGCROWD announced that it has completed more than 200 loan deals since launch, following a record month for the platform.

The Edinburgh-based peer-to-peer lender said on Wednesday that it saw £2.5m of funds flow into the platform in August and … Read More

PeerPay partners with CaFE to tackle SME cashflow issues

September 20, 2017 |

PEER-TO-PEER invoice finance platform PeerPay has partnered with cashflow monitoring application CaFE to help small- and medium-sized enterprises (SMEs) manage their finances.

The FloFunder service from PeerPay enables small businesses to sell their invoices to larger businesses or high-net-worth individuals. … Read More

Not just avocado toast! Younger Oz investors flocking to RateSetter

September 20, 2017 |

RATESETTER is proving popular down under with millennials – typically those born in the early 1980s up to the mid 1990s – leading to a surge of investment into the lender’s one-month rolling product.

Data from RateSetter’s Australian platform, launched … Read More

Fintech pivotal to London’s future prosperity

September 20, 2017 |

FINTECH is one of the most important sectors for London’s economic growth over the next five years, according to firms in the capital.

The CBI/CBRE London Business Survey found that 47 per cent of 271 respondents cited the fintech sector … Read More