RateSetter ISA hits £100 million in record time

By John Battersby

We are delighted to say that at the end of last week, subscriptions to the RateSetter ISA passed the £100 million mark.  It has taken just four months from launching the ISA to reach this milestone – faster than any other peer-to-peer platform.  So far, more than 10,000 RateSetter ISA accounts have been opened.

 

This is our third major milestone in the space of a month, following news that we have generated over £100 million in interest for investors without any individual investor losing a penny, and passed £2.5 billion of cumulative lending to individuals and businesses across the UK.

 

RateSetter CEO and founder, Rhydian Lewis OBE, said: 

 

“The popularity of the RateSetter ISA has exceeded our expectations. With the Cash ISA in the doldrums, the RateSetter ISA has quickly become a real option for people who are seeking better returns and are prepared to accept some risk.

We look forward to building on this and welcoming many thousands more investors who want to put their money to work.”