RateSetter passes two billion pounds of lending

By RateSetter notices

RateSetter lenders have now delivered more than £2 billion in loans to people and businesses across the UK and in doing so have earned over £76 million in interest.

The vast majority - 94 per cent - of our lenders are individuals looking for a decent return on their money by investing, and accepting some degree of risk, rather than settling for the pitiful interest rates offered on bank deposits.

We’ve won Best Peer-to-Peer Lender in the FT and Investors Chronicle Wealth Management Awards for the last three years running and have been the highest-rated platform by Which? readers in 2015, 2016 and now also in 2017.

We originate, underwrite and service loans to a diverse mix of individuals and businesses across the country and the number of RateSetter borrowers, past and present, stands at well over 400,000 – more than any other UK peer-to-peer platform and continues to grow. Around £1 billion of loans have been made in the last 18 months alone.

£2bn lent

RateSetter's CEO and founder, Rhydian Lewis, said:

“Less than seven years ago, we wrote the first RateSetter loan from my living room. It has been fantastic to see the development of the business since and this £2 billion milestone is an exciting moment for RateSetter, as we continue to experience strong growth.

“Of course, the real measure of good lending is whether loans perform and money is repaid. I am delighted that £1.3 billion has been repaid to date, delivering more than £76 million in interest to people across the country who lend through RateSetter’s platform.”

We’d like to thank all our investors and borrowers for being part of reaching this significant milestone.