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
Rhydian_Lewis5122_RateSetterLogo
May 15 2018

RateSetter reaches £100m interest milestone

Marc Shoffman Industry News, News interest, loans, p2p, Ratesetter, Rhydian Lewis

RATESETTER has helped investors pocket £100m of interest.

The peer-to-peer platform – launched in October 2010 – said it had paid £100m interest to investors without any lenders losing a penny.

Rhydian Lewis (pictured), chief executive of RateSetter, said the platform now has 500,000 customers, 60,000 registered investors and a loanbook of close to £2.5bn.  The average annual return received by investors stands at 4.4 per cent.

“We launched RateSetter to give people the opportunity to get their money working harder, and we are very proud that we’ve generated £100m of interest for our investors without dropping a penny,” Lewis said.

“This is just the start. We are opening lending as an asset class that everyone can access – filling the gap between the low returns of cash deposits and the volatility of shares.”

It comes after RateSetter introduced its Innovative Finance ISA in February and saw more than £80m of subscriptions from 10,000 investors in just three months.

The platform unveiled a series of changes to its Rolling Market product to go live next month, removing the ability for investors to set their own rate on reinvested funds and altering how returns are paid.

Its Rolling Market product –  that has a rate set by supply and demand and lets investors access their funds free at any point – is its most popular product but RateSetter said customers can find it complicated when rates fluctuate.

Read more: RateSetter investors facing wait to file tax returns early

HMRC updates crypto investors on tax confusion MarketInvoice boosts regional presence with new hire

Related Posts

CLOSED Out of business shop sign vector illustration

Industry News, News, Top 3, Uncategorized

SME lender warns many companies will not survive

London, UK - Downing street offices, entrance gate

Industry News, News, Top 3

Government responds to P2P fraud query

money UK

Industry News, News, Property, Top 3

The alternative lenders accredited for CBILS

Popular posts:

  • MP queries level of fraud in P2P lending
  • Some firms set to pay more than maximum CBILS interest rate
  • Growth Street to return 100pc of investor funds
  • A year in the life of the 36H Group
  • Aave launches higher risk, higher return option for…
  • Investors urged to look at ISA options ahead of…
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