P2P Lending Remains Hot Ticket as RateSetter Secures £20 Million in Funding

The P2P lending sector continues to attract investments after a strong year in 2014. Announcing a new round of funding today is UK-based RateSetter,which raised $29.6 million (£20 million). The Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term included participation from Artemis and Woodford Investment Management, as well as previous shareholders former Lazard investment banker turned Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term investor, Ken Costa and Charles Peel.

According to RateSetter, the $29.6 million in funds will be used to invest in their technology as well as to expand their operations through marketing and new hires. According to estimates used by the UK’s financial regulator, FCA, combined consumer and business P2P lending was nearly $2 billion during 2014 in the country, growing 170%. The rapidly growing market has also led it to become more competitive in the UK, where RateSetter competes against Zopa, Funding Circle and Assetz Capital.

With $433.7 million (£293 million) in loans processed during 2014 for RateSetter, the firm was responsible for nearly 25% of the UK market in P2P Lending and has lent over $162.8 million (£110 million) so far in 2015. According to RateSetter, the performance has led them to become the only P2P lender in the UK to have achieved profitability.

Commenting on the news in the firm’s public statement, RateSetter Chairman, Alan Hughes said, “we are delighted to have raised investment from such well-respected institutions, vindicating our focus on attracting large equity investors that share our long-term vision.”