Peer-to-peer lender Ratesetter bullish on 2015 prospectsComments Off on Peer-to-peer lender Ratesetter bullish on 2015 prospects
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.