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We recently reviewed Money&Co, one of the latest entrants into the peer-to-peer sector. Despite some loans attracting individual bids in the tens of thousands of pounds, with one bid of £40,000, none of the loans reached their required funding by the time the auctions were due to close on Monday. Money&Co have now extend these auctions by up to two weeks.
There have been additional bids today with one bid of £50,000 an the £1million loan, but that in itself only represents 5% of the required capital. It is likely that Money&Co will now start actively marketing the site to attract both small and large lenders, and we'll continue to follow this with interest.