RateSetter was founded in 2010 by Rhydian Lewis and Peter Behrens to give people the opportunity to earn more on their money. They wanted to address the investment gap between cash and shares and make better returns accessible to everyone in a simple and modern way.
Since then, RateSetter investors have lent over £2,810,666,268 and earned £112m million in interest. RateSetter has grown to a team of 200 people based in London and Leicester operating across the whole of the UK. RateSetter is chaired by Paul Manduca, who is also the Chairman of Prudential plc.
Investing with RateSetter is:
Simple - You simply choose how much to invest (you can invest from £10 up to £1,000,000s) and the access you require; the Rolling Market offers flexibility while the 1 Year and 5 Year markets offer longer term growth and income opportunities.
Fast - Your money can be put to work within minutes. The RateSetter markets match investors with borrowers quickly and efficiently and enable your money to earn continuously.
Clear – You can access our portfolio’s full, real-time performance information at our Data Hub.
Balanced – Your money is invested in a diversified portfolio of loans to individuals, businesses and property developers, balanced across different borrower types and sectors.
Protected by the Provision Fund – which provides a buffer against poorly performing loans. The Provision Fund has a 100% track record, with every individual RateSetter investor receiving back every penny they expected, but this does not provide a guarantee.
Better returns statement based on the 30 day average on the 5 Year market of 6.0% at 01/10/2018 versus a 1.32% Interest rate of UK monetary financial institutions sterling two year fixed rate cash ISA. Source: Bank of England 31/08/2018.
Launched in the UK in 2010
Equity investors include major investment fund managers Woodford Investment Management and Artemis
First globally to launch Rolling and 1 year lending markets
First globally to launch a Provision Fund
Lending to a diverse range of creditworthy borrowers including: individuals, small and medium sized businesses and property developers.
Launched in Australia in 2014
Founding provider of loan book and returns data to AltFi Data in 2015, a major boost to industry transparency
100% track record – all investors have received the return they expected and no individual lender has lost a penny since our launch in 2010. While this is a track record we want to maintain, please note that past performance does not provide a guarantee for the future.
Registered lenders: 68,871
Total number of borrowers: 465,522
Average amount invested: £22,818
Amount lent in the last year: £684m
Rhydian Lewis, Founder and Chief Executive Officer
Rhydian founded RateSetter in 2010 to give people the opportunity to earn more on their money. He observed the huge gap in risk and reward between savings and shares, and identified that opening access for everybody to invest in a portfolio of loans could fill that gap. Rhydian has pioneered many innovations including the Provision Fund model, which fully diversifies every investors’ risk across the whole RateSetter loan portfolio, making investing simple and relatively low risk. Rhydian’s aspiration is that the RateSetter Market Rate becomes the benchmark for what investors can earn from lending.
Rhydian was awarded an OBE for innovation in financial inclusion: the ability for people to access returns easily is a key element of financial inclusion. Prior to founding RateSetter, Rhydian spent six years at the financial advisory and asset management firm Lazard.
Peter Behrens, Co-founder and Chief Lending Officer
Peter is RateSetter’s Chief Lending Officer and is responsible for growing borrower distribution.
Peter trained and practised as a lawyer at City firm Ashurst, before leaving to become a banker at RBS. In 2009, after talking to Rhydian about whether they could build a business that would offer investors and borrowers a better deal than they were getting from traditional providers, it became obvious that there was an opportunity to build a compelling alternative and so they launched RateSetter.
Harry Russell, Chief Financial Officer
Harry runs RateSetter's finance function, taking responsibility for its day-to-day management while focusing on our long-term strategic profitability.
He joined RateSetter from KPMG, where he spent seven years in their financial and operational restructuring team working across the aerospace, automotive, health, manufacturing and retail sectors. Prior to that, he spent three years in the audit team at PwC, where he qualified as a Chartered Accountant.
Mario Lupori, Chief Product Officer
Mario Lupori is responsible for delivering great products to our customers. This covers the full cycle of Product Design, Development and Marketing. Mario has over 10 years’ experience in financial services. Prior to joining RateSetter he was Head of Acquisition at NewDay, one of the UK’s biggest credit card issuers. He has also held senior management positions at Barclaycard.
Laurence Perrin, Head of Compliance and Operational Risk
Laurence is responsible for making sure that RateSetter complies with UK regulations and that the business has adequate Systems and Controls. Before joining RateSetter, she spent 17 years with General Electric, where her most recent role was Head of Compliance at GE Money Home Lending – GE Capital’s UK mortgage and consumer lending business – overseeing regulatory, conduct and financial crime issues. Prior to that, she held multiple compliance, finance and audit roles within GE Capital, GE Healthcare and GE Corporate.
Laurence trained as a lawyer in France (Paris West University) and in the UK (LLB, Westminster University) and also has a Masters in Business Management from ESCP Europe.
Michael Hoare, Head of Credit
Mike oversees credit risk and performance for all borrowing divisions - consumer, commercial, motor. Mike joined RateSetter from PayPal UK, where he was Chief Credit Risk Officer, overseeing underwriting, customer management and collections strategies for unsecured consumer and small business lending. Before PayPal UK, Michael worked at Capital One, where he held a number of positions including Credit Risk Management Director and Head of Portfolio Management.
Angela Yotov, General Counsel
Angela is responsible for providing legal counsel and managing legal risk and strategy across all areas of the business.
Angela has financial services experience in both the corporate and consumer spaces, having worked and trained at top tier law firms Freshfields and Latham & Watkins and having spent 9 years in-house at Barclays, prior to joining RateSetter.
Jon Hodge, Head of Operations
Jon leads RateSetter’s operational teams, and supports the wider operating quality and efficiency in the business. Jon joined RateSetter from a family office where he managed the financial and operational performance of a portfolio of investments and subsidiaries. Prior to that Jon worked in the Financial Services and Corporate Finance teams at PwC, focusing on transformative financial and operational projects in a range of sectors including banking, non-bank lending and healthcare. Jon is a Chartered Accountant, and began his career in the British Army.
RateSetter supports the Women in Finance Charter, which is a pledge for gender balance across financial services. We signed this in early 2017. We do this because we believe in the value of diversity and equality of opportunity, alongside our belief in meritocracy and always trying to choose the best person for the job. Currently, around one third of those in senior management positions at RateSetter are women and we aim to ensure this level does not drop below a quarter at any time over the next five year period.
Paul Manduca, Chairman
Paul chairs the Board at RateSetter. He is also Chairman of Prudential plc. His career in asset management included founding Threadneedle Asset Management and serving as CEO at both Rothschild Asset Management and Deutsche Asset Management. As a non-executive, Paul has held senior positions in both financial services and other sectors, including at Wm Morrison. He also chairs the Advisory Council of TheCityUK. Paul joined the RateSetter Board in June 2017 and became Chairman in July 2017.
Ian Boyce, Non-Executive Director
Ian held a number of senior positions in Hong Kong before his return to the UK in 2014. He was CEO of Schroders Asia and later Non-Executive Chairman of Schroder Investment Management (HK), Chairman of a substantial family office, a non-executive director of CLP Holdings, and Deputy Chairman of Hong Kong & Shanghai Hotels and a member of its Audit Committee. Ian joined the RateSetter Board in July 2014.
Stuart Bridges, Chair of Audit Committee
Stuart is the Chief Financial Officer at Control Risks, the specialist risk consultancy. Prior to joining Control Risks he was the Chief Financial Officer at Nex Group (previously ICAP) which he joined after some sixteen years as Chief Financial Officer at Hiscox. Before Hiscox, Stuart held positions in various financial services companies in the UK and the US including Janus Henderson Investments. A chartered accountant, he has an MA in engineering from Gonville and Caius College, Cambridge. Stuart is a Non-Executive director and chair of the audit committee of Caledonia Investments plc and a member of the Finance Committee of the Royal Institution. Stuart joined the RateSetter Board in September 2018.
Jim Gunner, Chair of Risk Committee
Jim has spent his career to date in banking, most of it specialising in risk management. He was senior executive for group risk at HSBC Holdings plc, representing the group in international banking and regulatory forums and was a frequent speaker at industry events worldwide, in particular those hosted by the International Institute of Finance. He held senior positions in the credit or risk functions in Midland Bank, HSBC (UK) and Merrill Lynch HSBC and represented HSBC at the British Bankers’ Association for many years. He was also seconded as a consultant to the Financial Services Authority. Jim joined the RateSetter Board in March 2016.