Peer-to-peer lender Ratesetter bullish on 2015 prospects

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Ratesetter made £104,000 in the year to March 2014, compared to a loss of £499,000 the previous year. Revenue jumped from £1.4 million to £4.9 million.

Chief executive and co-founder Rhydian Lewis is bullish over the company and industry’s prospects for 2015. He said: “I think peer-to-peer lending will accelerate quite dramatically.”

 

December was a record month for Ratesetter, with £31.5 million lent. Since it first opened in 2010, £470 million has been loaned over the platform, with £293 million of that coming in 2014.

Ratesetter allows investors to lend to either businesses or the public while setting their risk parameters.

Lewis said new measures to allow peer-to-peer loans in Isas would be a “tipping point”, while the unlocking of pensions may see more cash flow into the sector.

Source Article from http://www.standard.co.uk/business/business-news/peertopeer-lender-ratesetter-bullish-on-2015-prospects-9988130.html

January 20, 2015 |
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