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