RateSetter raise £1.5million

November 7th, 2011

RateSetter have announced they raised £1.5million in funding.  Here is an except from their press release.

Leading peer-to-peer finance website RateSetter.com has announced the conclusion of a fundraising round which has seen the company raise £1.5m. The raise was oversubscribed and was completed in a matter of weeks. RateSetter.com launched in 2010 and matches Savers with creditworthy individuals looking for a personal loan. With 70,000 registered members RateSetter has matched over £10 million, with every lender receiving every penny of expected capital and interest.

This is good news for customers of RateSetter and it shows their backers have confidence in the business.

Funding Circle £25 gift voucher

November 2nd, 2011
Funding Circle

For those users who have signed up to Funding Circle via P2P Money, it has been confirmed your £25 gift vouchers will be sent in January if you have successfully lent the required amount.

Terms and conditions apply.

Credit Easing

November 2nd, 2011
Funding Circle

Yesterday I read an interesting article on Credit Easing from Funding Circle.  As you may be aware, the government is trying to encourage lending to small and medium size enterprises (SMEs) by creating a bond market.  This is because the high street banks simply aren't lending enough.

However if we contrast this with P2B (peer to business lending) the companies of the likes of Funding Circle, ThinCats and YouAngel are facilitating lending over £2.5 million per month to SMEs.  Perhaps the government should be doing more to encourage P2B lending rather than bank to business lending, and the government could do more by allowing lenders to offset bad debts against interest, just as banks do today.

RateSetter website back up

November 1st, 2011

The RateSetter web site is now back up, and the data feed to P2P Money is now working again.

RateSetter website down

November 1st, 2011

The RateSetter website is currently down and the P2P Money website will currently report an error processing data from RateSetter.  Hopefully the RateSetter website should be restored soon.