RateSetter hits 75,000 investor milestone
RATESETTER has announced that it now has more than 75,000 investors on its peer-to-peer lending platform.
In comparison, Zopa has 60,000 investors, while Funding Circle has 79,000.
Mario Lupori (pictured), chief investments officer for RateSetter, said investors have enjoyed returns of £120m with an average interest rate of 4.4 per cent per year since the platform launched in 2010.
“We are making real headway in opening lending as an investment that everyone can access,” Lupori said.
“Every day, more investors are discovering that they can access attractive and predictable returns at RateSetter, filling the gap between the low returns of cash savings and the volatility of shares. We are starting to see P2P investments go mainstream.”
It comes after RateSetter joined the £3bn lending club earlier this month. RateSetter is the last of the ‘big three’ P2P lenders to reach the milestone and it comes after it originated more than £700m of new lending last year.
Read more: RateSetter passes £500m in lending on secondary market
Of RateSetter’s £3bn loanbook, £820m of the loans are still active and £2.2bn has been repaid by borrowers.
Funding Circle hit the £3bn milestone in December 2017, followed by Zopa in January 2018.
Read more: P2P set for fundraising boom in 2019
