Assetz Capital has announced that more than £100m has now been invested through its Innovative Finance ISA (IFISA), making up 23 per cent of all invested funds on the peer-to-peer lending platform.
Over 5,000 IFISA accounts have been opened with Assetz since it launched its tax-efficient product in 2017, with an average of more than £19,000 held in each account.
“That nearly a quarter of all our invested funds are coming through our IFISA is a testimony to its incredible success as a source of leading rates of tax-free investment returns for our investors, especially when measured against an inflation rate that can make it difficult for people to access significant returns on their cash,” said Stuart Law (pictured), chief executive at Assetz Capital.
“Achieving this milestone hot on the heels of our investors earning £100m in total gross interest across our near seven-year track record, demonstrates how our IFISA and Access accounts have enabled our customers to create investment strategies that work for them, often while earning fairer returns on their funds.
“These achievements represent significant milestones in our journey as we approach £1bn lent to UK businesses, and it is our retail investors that have driven this growth so far.
“As we continue to build the largest marketplace with the most liquidity, where retail investors, businesses with excess cash and institutional funds and banks alike can invest alongside each other, retail investors will remain a priority as we develop our IFISA and Access accounts.”