Less than two and a half years after successfully raising more than £3.2 million through its Seedrs campaign, peer-to-peer lending platform Assetz Capital has returned to the equity crowdfunding platform to raise more growth funds.
The news of Assetz Capital’s latest funding round comes just after the online lender announced from April 2017 to September 2017 over £110 million was lent to creditworthy businesses nationwide through its lending platform, which is similar to the whole of last financial year. From April 2016 to March 2017, the lender lent a total of £126 million.
Assetz Capital also stated that investors have now earned total gross interest of £30 million since the company’s launch in 2014. Since platform launch, Assetz Capital has reportedly provided approximately £360 million in loans to UK SMEs backed by more than 22,000 investors. Gross rates of returns stand from 3.75% to 15.15% on an annualized basis.
“Assetz Capital is one of the world’s leading Peer to Peer (P2P) business and property lenders and operates in the UK market. We facilitate direct secured lending between investors and business borrowers via our online investment marketplace. We believe we’ve now achieved critical scale, given that we are profitable and cash generative, a rare achievement in FinTech.”
Last month, Assetz Capital announced it received full authorization from the Financial Conduct Authority (FCA) and claimed second place in the ranking of UK’s largest P2P lenders as it reports lending in excess of £25 million per month on average to SMEs throughout the UK. Stuart Law, CEO of Assetz Capital, at the time revealed:
“We are pleased to have been granted full authorization by the FCA in the last few days, and as a result we will shortly be revealing plans for our highly anticipated IFISA as the next step of our mission to deliver secured peer-to-peer loans to all,” commented . “Providing our investments within a tax free wrapper will help bring further respite to the income-starved investor.”
Funds from the latest Seedrs round will be used to continue Assetz Capital’s expansion. It is set to close later this fall.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!