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January 15 2019

Ablrate rolls out new auto-invest loan but promises pipeline of self-select offerings

Marc Shoffman Industry News, News Ablrate, asset-backed loans, Crowdcube, p2p, Suncredit

ASSET-BACKED lender Ablrate is set to launch its latest auto-invest loan but has assured investors that self-select opportunities remain at the core of the platform.

The peer-to-peer lender’s portfolio loans are auto-style products that automatically match funds to a single borrower or range of borrowers.

Read more: Ablrate launches first portfolio loan product

The latest offering, to launch on Wednesday 16 January, is a portfolio loan for existing borrower Suncredit, a gas power generator.

It will have £6m facility that it can access in tranches over 24 months, with investors receiving a rate of eight per cent.

The platform said there were also plenty of self-select loans in the pipeline.

“Self-select loans remain at the core of the Ablrate platform,” Ablrate said in a note to investors.

“This year we aim to increase origination through the broker platform and creating a regional network of brokers bringing us potential deals.

“There are, however, a number of self-select loans coming to the platform within the month and we expect this to increase exponentially throughout the year.”

It comes as the lender launched a £350,000 crowdfunding campaign on Crowdcube last week to help build its broker platform and blockchain-powered secondary market.

The Crowdcube campaign offers investors equity of 1.3 per cent and values the firm at £26m.

Read more: Ablrate takes equity stake in Huddle

Former RBS executive joins ThinCats in business development role Assetz Exchange gets set for wider public launch

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