Crowdstacker, a UK-based peer-to-peer (P2P) lending platform, recently announced it has exceeded £50 million in funds raised for UK businesses that are featured on its portal. According to the online lender, 100% of the P2P lending funds raised for British businesses through Crowdstacker has come directly from Crowdstacker’s “crowd.”
As previously reported, Crowdstacker was founded in 2014 and has described itself as an award-winning FCA regulated online alternative investment platform that provides ISA eligible P2P loans, bonds, and loan notes. The lender revealed:
“We carefully select great British businesses that are looking to raise money to grow or undertake projects. Traditionally businesses borrowed from banks, now through Crowdstacker we enable you to lend directly to businesses, cutting out the banks. You get more on your money and the businesses borrow at better rates; a win win for all.”
Crowdstacker claimed it is among the earliest P2P platforms to gain full permission from the FCA, and one of the first to launch an Innovative Finance ISA in April 2016. Last year, the lending platform claimed it became a record breaker when it completed the UK’s largest crowdfunded P2P loan to date, funding over £15 million. Crowdstacker also revealed that investors have been paid a total of £13.4 million in interest and capital repayment since its launch.
“Crowdstacker has made earning interest interesting for our investors so far. And payments have been made to these investors amounting to £13.4m in interest and capital repayment since the first loan launched in the summer of 2015.”
Along with the milestone, Crowdstacker is currently seeking £800,000 through its equity crowdfunding campaign on Seedrs. Funds from the round will be used to continue the lending platform’s growth and expansion. Crowdstacker added:
“Our future plans are to increase awareness and usage by investors and businesses. To help deliver this, we plan to develop a wider suite of investment structures that can be managed and administrated through our platform.”
Crowdstacker’s Seedrs round is set to close at the beginning of September.
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!