Propifi has unveiled its Innovative Finance ISA (IFISA).
The peer-to-peer property lending platform, which raised more than £250,000 on Crowdcube in 2018 to build its brand and gain Financial Conduct Authority authorisation, has launched its tax wrapper letting investors with a minimum investment of £1,000 earn projected rates of eight per cent for backing bridging loans.
“Propifi has been developed by a leading team of experts in property development, finance and technology, to create a unique P2P lending platform that could quickly dominate the UK market,” Euan McAlpine, chair of Propifi, said.
“In being eligible for IFISA investment, Propifi’s targeted interest P2P investment products provide retail investors with a viable opportunity to take advantage of the capped £20,000 tax-free IFISA allowance, whilst enabling them to benefit from healthy, projected returns of up to eight per cent fixed returns paid quarterly.
“Our IFISA campaign will provide Propifi investors with the opportunity to enter into and support the bridging finance industry and enable us to continue issuing valuable P2P investment opportunities to both restricted and high-net-worth investors across the UK.”