Peer-to-peer lending analysis and ratings firm 4th Way has revealed it is set to launch a subscription service, as it unveils a £30,000 crowdfunding campaign.
4th Way is using crowdfunding website Crowdfunder to raise money, as it said that the pandemic has hit the business hard.
The Crowdfunder pitch said the business has been profitable for two out of the past three years but has no large financial backing.
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The campaign revealed that 4th Way will release a subscription service providing access to records of interviews and meetings with P2P lenders and research notes.
Anyone investing £500 or more will get lifetime access to the service and those pledging £1,000 or more will get the same benefit plus personal P2P lending coaching.
“We see ourselves having a good, long future helping lenders to make more money, more safely, thanks to the belief that our users have in us,” 4th Way said.
“But the pandemic has really hit us hard. To survive this difficult period, we need the help and assistance of our fanbase and wider user base.
“P2P lending – social lending – is about the community getting together to help each other. Borrowers and lenders help each other and get better terms than banks offer. Lenders help each other too.
“Many of the P2P platforms help both borrowers and lenders a great deal.
“4thWay has also helped lenders and now we’re asking for a little support back.”
The campaign has raised 4,360 as of this morning (10 November).