Following the Covid-19 outbreak and the current economic environment, RateSetter announced on 4 May a temporary reduction in interest for the remainder of the year. During this time, investors will receive only 50% of their interest with the other 50% going to the Provision Fund, for the protection of all investors.  Also, since the outbreak, the time it is taking investors to release their investments is currently longer than normal. Further information is available here. 

The UK's most popular peer-to-peer investment platform.

FCA authorised and regulated

Over 84,000 investors

Operating since 2010

Over £3.6 billion invested to date

FCA authorised and regulated

Over 84,000 investors

Operating since 2010

Over £3.6 billion invested to date

Reasons to choose RateSetter

Banks make money by lending your money to borrowers. It’s an established system that keeps your money safe but doesn't necessarily offer good value to customers.

We believe that your money should be working harder for you, not for someone else.

In 2010, we founded RateSetter on that principle. We created our peer-to-peer investments platform and began connecting those who have money to invest with those who want to borrow it, providing better value to everyone. It’s as simple as that.

We’re not a replacement for your bank, and we don’t pretend to offer the lounge service or marble foyer that you may experience elsewhere. We exist for people who want rewarding investments. Or a competitive loan.


Great returns, more stability 

At RateSetter you can earn interest every month – with returns that are higher than most savings accounts and more stable than stocks and shares.   Learn more

Provision Fund protection

You’re protected by the RateSetter Provision Fund, our buffer against poorly performing loans. Learn more

Accessing your money

You can request to release your investments at any time. We will process any requests as soon as there are funds on the market to take over your investment. Instant access is not guaranteed. Learn more


The Provision Fund we offer does not give you a right to a payment so you may not receive a pay-out even if you suffer loss. The Fund has absolute discretion as to the amount that may be paid, including making no payment at all. Therefore, investors should not rely on possible pay-outs from the Provision Fund when considering whether or how much to invest.  Learn more

Key facts

  • Launched in the UK in 2010
  • First globally to launch a Provision Fund
  • First globally to launch an easy access product
  • First to pursue a diversified lending strategy
  • Launched in Australia in 2014
  • FCA regulated since 2014
  • Founding provider of loan portfolio and returns data to Brismo in 2015, a major boost to industry transparency
  • Became a member of the Finance & Leasing Association in 2016
  • Private company
  • Team of over 200 people, based in London and Leicester
  • Winner of the Queen’s Award for Enterprise in 2019, the most prestigious business awards in the UK

Executive Committee

Rhydian Lewis | Chief Executive Officer

Oversees strategy, manages the Executive Committee and represents RateSetter with external stakeholders. Rhydian founded RateSetter to provide a new investment choice that sits between savings and shares. He has pioneered innovations including the Provision Fund model, which makes investing simple and relatively low risk. He was awarded an OBE for innovation in financial services, specifically with regard to opening up access to returns to everybody. Prior to RateSetter, he spent six years at the financial advisory and asset management firm Lazard.


Harry Russell | Chief Finance Officer

Oversees finance, compliance and HR. Harry joined RateSetter from KPMG, where he spent seven years in their financial and operational restructuring team. Prior to that, he spent three years in the audit team at PwC, where he qualified as a Chartered Accountant.


Jon Hodge | Chief Operating Officer

Oversees the RateSetter technology and operations platform and supports the wider operating quality and efficiency of the business. Jon is a Chartered Accountant and worked in the Financial Services & Corporate Finance teams at PwC, having begun his career in the British Army.


Michael Hoare | Chief Credit Officer

Oversees credit policy, decisioning and analytics for the RateSetter platform, as well as anti-fraud measures. Mike joined RateSetter from PayPal UK, where he was Chief Credit Officer, before which he worked at Capital One.


Peter Behrens | Chief Commercial Officer

Oversees the borrower side of the RateSetter platform, responsible for borrower origination and strategy. Before co-founding RateSetter, Peter trained and practised as a lawyer at Ashurst and worked as a banker at RBS.

Women in finance

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.  We aim for at least a quarter of those in senior management positions to be women and not to drop below a quarter over the next five year period. We believe we are on track to meet our target.


The Board consists of the Executive Directors Rhydian Lewis, Peter Behrens and Harry Russell and the Non-Executive Directors listed below.


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.


Martyn Scrivens | Chair of Risk Committee

Martyn has experience in audit and risk management spanning four decades, including operating at Board level in both the private and public sector.  Martyn spent five years at Credit Suisse Group where he was Global Head of Internal Audit and prior to that he oversaw group audit functions at Lloyds Banking Group as Group Audit Director for nine years. Before joining Lloyds, Martyn spent 24 years at international professional services firm Arthur Andersen, including 13 years as Partner.  Martyn also serves as Non-Executive Director at Yeovil District Hospital.  He is a Fellow of the Institute of Chartered Accountants and chairs the Institute’s Internal Audit Advisory Panel.  Martyn joined the RateSetter Board in November 2019.


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