About Us | RateSetter

Your Money Could Do Better, Invest It With RateSetter.

We make investing better by enabling investors to access better returns through peer to peer lending.

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 £2,673,063,362 and earned £107m 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 3 month average for 5 Year Market of 5.4% at 1 August 2018 versus a 1.26% Interest rate of UK monetary financial institutions sterling two year fixed rate cash ISA. Source: Bank of England 30 June 2018.

Key Facts

  • 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: 66,758

  • Total number of borrowers: 465,522

  • Average amount invested: £22,723

  • Amount lent in the last year: £650m

Executive Team

Rhydian Lewis, Founder and Chief Executive Officer

Rhydian founded RateSetter in 2010 to give people the opportunity to earn more on their money by lending directly. Rhydian believed that there was a gap between cash and shares and an opportunity to make this return accessible to everyone in a safe and modern way. Rhydian hopes the rates on RateSetter become the benchmark for what UK investors can earn for lending.

In 2017, Rhydian received an OBE for innovation in financial inclusion. For Rhydian, the ability for people to earn returns on their money in an easily accessible way is a key part of financial inclusion.

Prior to founding RateSetter, Rhydian spent six years at the financial advisory and asset management firm Lazard. Rhydian graduated from Bristol with a double first in Modern Languages.

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.

Women in Finance Charter

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 (currently a total of 12 positions) are women and we aim to ensure this level does not drop below a quarter at any time over the next five year period.

Non Executive Directors

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, Chair of Audit Committee

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.


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.