The booming UK peer to peer industry now has a way to easily compare loans between the various competing platform. NurtureMoney claims to be the UK’s first independent and impartial crowdfunding comparison service covering 51 different platforms.
The service is free to use for both investors and borrowers and states the transparency will aid the growth of the crowdfunding and P2P lending market as well as to promote the understanding of the wider market.
At launch, the platform will compare the majority of UK crowdfunding platforms – including equity, invoice finance, peer-to-peer, peer-to-business as well as rewards and donation based platforms.
Richard Watts, founder of NurtureMoney, said:
“The growth of the crowdfunding and peer-to-peer market is well documented by the likes of NESTA reports, and others. The arrival of a comparison service demonstrates is recognition of this growth, aiming to cut through the now cluttered market. By doing so, investors or borrowers can quickly establish which platforms best suits their needs.”
NurtureMoney’s proposition centres around a comparison algorithm, but content is also said to take center stage. The editorial team is made up of a number of national journalists who include: Holly Thomas, ex deputy editor of Sunday Times finance section, and has contributed to The Times, The Daily Express, and others.
Many of the major UK platforms from across the crowdfunding community have already significantly contributed to the independent platform through comment, bylined articles and working relationship.
“We launched Funding Circle in 2010 to make finance more transparent giving people more control over their money and a better return. We’re fully supportive of services which help educate people about this new world of finance.”
Rhydian Lewis, founder and CEO of RateSetter, said:
“Given the phenomenal growth rate, it is clear that peer-to-peer lending is moving swiftly into the mainstream. Comparison services are the mark of a maturing industry – more people involved means more choice. NurtureMoney will help consumers to make the right financial decision for them.”