Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_366350717
March 6 2017

White label P2P platform Trillion Fund up for sale

Marc Shoffman Industry News, News FCA, government, p2p loans, renewable energy, Theresa Burton, Trillion Fund

RENEWABLE energy peer-to-peer loans provider Trillion Fund is up for sale.

The platform, which stopped offering loans for P2P projects in 2015 after government renewable energy subsidies were cut, has struggled to make its white-label crowdfunding service financially viable.

Trillion Fund launched Your Brand Crowdfunding last year to allow companies to run fundraising campaigns on their own website, but Theresa Burton, chief executive of Trillion Fund, said there had not been enough take up.

“We are now looking to sell the assets and technology infrastructure,” she told Peer-to-Peer Finance News.

“The target type of buyer would be a company that wants to enter the sector. We have the infrastructure ready for them.

“The sector has become very crowded; you need a loan book of around £100m just to break even. There are plenty of investors but it is a struggle for many to get the ongoing deal flow.”

Read more: P2P to explode in 2017, but some firms may close

Burton said the platform, which holds interim regulatory permissions, has 600 lenders and a loan book of £3m that will close with a final repayment due in April 2018.

If purchased, she hopes to stay on initially to help with a handover before stepping down.  If there is no sale, the company will close once the final loan is repaid.

Over the past six years, the firm has developed an administration framework for all aspects of P2P lending and crowdfunding, including payment systems, customer services, and platform administration. The firm also has policy, procedures and systems in place for all aspects of regulatory compliance.

“As a result of the government’s surprising decision to suddenly withdraw subsidies from the renewable energy sector in 2015, Trillion Fund was unable to secure sufficient deal flow to support its focus on renewable energy,” said Burton.

“The firm sought to pivot to a new P2P lending service in 2016 Your Brand Crowdfunding. Although the concept was warmly received in initial market research, it was challenging to get to the deal flow volumes required to scale fast enough.

“The core site Trillionfund.com is fully operational, managing interest payments on loans for existing investors. The technology supporting the platform is robust, well-tested and up-to-date and easily configurable to new branding.”

Read more: Budget may decide IFISA’s fate
Read more: Investors warned regulatory approval isn’t “badge of trust”

Investors warned P2P regulatory approval isn’t “badge of trust” RateSetter returns fall as market demand rises

Related Posts

magnifier

Industry News, News, Top 3

Trade association calls for more FCA scrutiny

FOLK2FOLK - Roy Warren MD - head crop (col)

Industry News, News, Top 3

Folk2Folk eyes £100m from institutions as it expands nationally

the acronym fca for Financial Conduct Authority concept represented by wooden letter tiles

Industry News, News, Top 3

FCA to publish initial supervisory work on consumer credit guidance

Popular posts:

  • Chancellor unveils recovery loan scheme
  • Budget outlines plans for £15bn of green bonds in 2021
  • FCA warns The House Crowd investors against using…
  • Government to launch replacement future fund scheme
  • BBB sets out further details on recovery loan scheme
  • Cyan Finance launches IFISA to help investors go green
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by