Tagged: rhydian lewis

Lending Platform RateSetter Reports an Increase in Losses During Last Year as P2P Lender

Lending platform RateSetter’s pre-tax losses have reportedly doubled in its last year operating as a P2P lending platform. This, according to the service provider’s annual accounts. The consumer lending business, which has been acquired by Metro Bank, noted that it recorded a £22.3 million lost… Read More

Metro Bank Acquires P2P Lender RateSetter, Metro Bank to Use its Deposit Base to Fund New Loans

RateSetter, a leading UK based peer to peer lender, has been acquired by Metro Bank. The purchase of RateSetter has long been anticipated as the P2P lender messaged earlier that it was exploring “strategic options” – a euphemism for a sale. In June, there were… Read More

RateSetter’s CEO Rhydian Lewis Says COVID-19 Is the P2P Lending Sector’s First “Major” Crisis, Its Focus Is “Entirely” on Customers

UK-based peer to peer (P2P) lender RateSetter recently revealed that fewer consumer borrowers are asking for more time to pay back their loans. RateSetter said that its loan performance is now consistent with what it had predicted or expected during April 2020 and it claims… Read More

P2P Lender RateSetter Reports “Significant Reduction in Losses,” Profitability Nears

Peer to peer lender RateSetter has reported that for the year March 2019 losses have dropped from £27.5 million in the previous year to £4.2 million. The company claims it has taken a “big step towards profitability. Topline revenue was reported at £33 million with… Read More

RateSetter Reports IFISA Tops £100 Million in Record Time

UK based peer-to-peer lender RateSetter is reporting that subscriptions to its IFISA have surpassed £100 million. This milestone took four months to reach and, according to RateSetter, faster than any other P2P lender. To date, RateSetter has originated over £2.5 billion in online loans to… Read More

RateSetter Milestone: £100 Million in Investor Returns

UK Peer-to-peer lending platform RateSetter has topped the milestone of returning £100 million in pre-tax interest payments to its investors. RateSetter reports accomplishing this without any individual investor losing a penny. Launched in October 2010, RateSetter now claims over 500,000 customers. From the investing side, more than… Read More

RateSetter Innovative Finance ISA is Finally Here

Peer-to-peer lending platform RateSetter has shared that is Innovative Finance ISA (IFISA) will launch tomorrow (February 8th). RateSetter said the IFISA will initially be available to existing customers, then to new customers on 1 March and to inward transfers from other ISAs in April. The creation of… Read More

RateSetter to Focus Solely on Asset Backed Lending for Commercial Loans

Peer to peer lender RateSetter said its commercial lending vertical will focus solely on secured lending in its commercial finance vertical. Following a review of its commercial finance operations, RateSetter said it would move to “simplify” its commercial finance by funding only property backed or… Read More

RateSetter Publishes 2016-2017 Accounts

On Wednesday, UK peer-to-peer lending platform RateSetter released its accounts for the year ending on March 31, 2017. The online lender reported that revenues were £23.7m, up 38 percent from 2015-16; loans under management grew by 23 percent, from £581m to £714m; the number of… Read More

Report Indicates Chancellor to Announce Multi-Billion Pound Fund to Fuel UK Scale-Ups

Chancellor of the Exchequer Philip Hammond’s Autumn budget will be revealed this week and there is plenty of chatter as to what may, or may not, be included in the important policy statement. With Brexit pressure compelling policy makers to do everything they can to… Read More

RateSetter Receives Full Regulatory Authorization From FCA

On Tuesday, peer-to-peer lending platform RateSetter announced it received full regulatory authorization from the Financial Conduct Authority (FCA). While sharing details about the new milestone, Rhydian Lewis, RateSetter CEO and founder, stated: “We are proud to receive full regulatory authorisation from the FCA. We have always aspired to… Read More

RateSetter Milestone: Investors Fund £2 Billion of Loans & Have Earned More Than £76 Million in Interest

RateSetter recently announced its lenders have now delivered more than £2 billion in loans to people and businesses across the UK and in doing so have earned over £76 million in interest. According to the online lender, 94% of its lenders are individuals looking for… Read More

UK P2P Lender RateSetter Secures £13M in Equity Funding [u]

UK P2P lender RateSetter announced that the platform has raised £13 million in equity funding from its existing shareholders, including city fund managers Woodford Investment Management and Artemis, according to Business Insider. The funding will be put towards launching “Innovative Finance ISA,” a new product that allows consumers… Read More

UK P2P Lender RateSetter Announces Joanna Wright as New CRO

Peer-to-peer lending platform RateSetter has appointed Joanna Wright as Chief Risk Officer. Wright joins RateSetter from GE Capital where she was Chief Risk Officer for GE Capital Bank in the UK, leading a team of over 200 risk professionals with responsibility for prudential and enterprise risks… Read More

UK P2P Lender RateSetter Nabs Paul Manduca for Non-Executive Chairman

P2P lending platform RateSetter announces that Paul Manduca has been appointed as Non-Executive Chairman. Manduca will join the Board on 1 June and will become Chair on 17 July, when current Chairman Alan Hughes’ three-year term expires. “Lending as an asset class has always been a virtual… Read More

RateSetter Borrowers Have Paid Back £1 Billion, Investors Have Earned £63 Million

Online lender RateSetter has said it has now collected £1 billion in capital repayments from borrowers since its first loan back in 2010. Overall, RateSetter has originated approximately £1.75 billion in loans while paying out £63 million in interest.  The average interest rate ranged between… Read More

Revenue Up 46% at RateSetter. Pre-Tax Loss Stands at £4.9 Million

RateSetter has released its accounts for 2015 – 2016.  According to their financial results, top line revenue increased 46% to £18.5 million from £12.6 million versus prior period. The increase in revenue was paired with a pre-tax loss of £4.9 million compared to a pre-tax… Read More

UK Crowdfunding Industry Comments on FCA’s Call for Input on Rules

As announced earlier today, the Financial Conduct Authority (FCA) has requested feedback from interested parties regarding the regulatory environment for debt and investment-based crowdfunding. The process is part of an anticipated periodic review of this new form of finance. Original rules were enacted in 2014…. Read More

Former HSBC Executives Join RateSetter Team

On the eve of the launch of the IF ISA, RateSetter has announced the appointment of two senior executives; Jim Gunner has joined the RateSetter board ad Non-Executive Director and Chair of the Risk Committee and Nigel Wilkinson is now Head of Commercial Credit. Both… Read More

Big News: SyndicateRoom & RateSetter Partner Up to Provide Debt & Equity Finance to SMEs

Leading equity crowdfunding platform SyndicateRoom and marketplace lender RateSetter have forged an agreement to partner on providing access to capital for small and medium enterprises (SMEs) in the UK. Recognizing the benefits for enabling both debt and equity capital, the two internet finance portals will… Read More

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