P2P Lending site eMoneyUnion Crowdfunds on Crowdcube

eMoneyUnionUnited Kingdom based peer-to-peer lending platform eMoneyUnion is offering 15% equity in their company for £300,000.   Pre-money valuation placed the firm at £2 Million.  As of today 29 investors had funded over £42,000. The shares are currently EIS and SEIS pending.  The offering is scheduled to close in early 2014.  The eMoneyplatform commenced Beta testing just this past August.

Lee Birkett, eMoneyUnion founder, stated;

“We are absolutely delighted to announce our ordinary share offering to the crowd. As one of only three peer-to-peer consumer loan platforms, the others being VC backed Zopa and Ratesetter, eMoneyUnion are the first and only peer-to-peer platform in the UK originating one to five-year, £1,000 to £10,000 loans to non-standard personal borrowers.”

Lee BirkettThe non-standard personal loan market is estimated to be worth £7 Billion per year. eMoneyUnion will provide lower interest rate borrowing opportunities to millions stuck in payday loans and other high-cost credit. Borrowers must however secure the backing of a family member or friend to act as their personal guarantor.

eMoneyUnion has also received approaches from institutions who have notified is of their intent to lend on the platform in 2014.

On the platform currently:

  • Borrowers pay 3.4% per month compared to the average high cost credit of 20+% per month.
  • Lenders receive up to a 12% per annum fixed yield backed by a credit worthy personal guarantor and eProvision fund.

Birkett continued, “Better saving rates and lower borrowing rates are a win-win for all. We look forward to welcoming our new shareholders in the phenomenon of peer-to-peer lending which has started a digital financial revolution with no high street banks involved.”


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