Propifi, a UK-based peer-to-peer lending platform, announced on Monday the launch fo its new innovative Finance ISA (IFISA) eligible investment opportunity. Propifi revealed that this is the first investment opportunity launched through its P2P platform that is eligible for IFISA investment and will enable individuals to place a minimum investment of £1,000.
As previously reported, Propifi is on a mission to provide a new, easy to use, peer to peer commercial lending platform to market, providing much-needed bridging finance for customers with an aim to deliver high returns of 8-12% for investors on the platform. The new portal was founded specifically to cater to the massive demand for bridging finance in the UK, and to satisfy the increasing appetite for P2P property finance in the face of stagnating traditional lending channels. Propifi currently offers both high-net-worth and restricted investors with competitive P2P investment opportunities, whilst continuing to accept applications for bridging loans from borrowers between £100,000 to £2.5 million.
Speaking about the new opportunity, Euan McAlpine, Chairman of Propifi, stated:
“In being eligible for IFISA investment, Propifi’s targeted interest P2P investment products provides retail investors with a viable opportunity to take advantage of the capped £20,000 tax-free IFISA allowance, whilst enabling them to benefit from healthy, projected returns of up to 8% fixed returns paid quarterly.”
Along with unveiling the opportunity, Propifi also announced it is aiming to raise an additional £5 million to drive product expansion. This news comes less than two years after Propifi raised £389,760 through its equity crowdfunding round on Crowdcube. McAlpine added:
“Our next fundraising campaign will provide Propifi investors with the opportunity to enter into and support the bridging finance industry and enable us to continue issuing valuable P2P investment opportunities to both restricted and high-net-worth investors across the UK.”
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