Ratesetter was founded in 2009 and has since grown to become one out of the four major market players in the UK’s peer-to-peer sphere. Some of the company’s facts and achievements are as follows:
- Ratesetter introduced the concept of a provision fund within peer-to-peer lending
- It has lent a total of over £1.8 billion over a total 385,331 loans, with over £66.3 million in interest returned to investors
- In August 2011, it became one of the first members of the Peer-To-Peer Finance Association (P2PFA), which was launched to set and maintain standards in the peer-to-peer industry.
- In September 2013, the platform won the “Best Unsecured Lender” award at Norton Finance’s annuals awards ceremony
- In 2013, Ratesetter became a member of the Open Data Institute (ODI), supporting its campaign to get more companies (including banks) to share data to help avoid future financial crises
- In 2013, the company became the first peer-to-peer lender to partner with a telecoms firm (GiffGaff) – where it provided loans to customers signing up to the GiffGaff network
- The Fairbanking Foundation’s 2013 report rated Ratesetter higher than many large mainstream lenders, and also ranked it the leading peer-to-peer lender in terms of loans that help customers manage their money better
- In July 2014, the government-owned ‘British Business Bank’ started lending through Ratesetter, targeting its lending exclusively at Ratesetter’s business loans
- Ratesetter achieved the “highly commended” recognition in both the “Most Trusted Personal Loan Provider” and the “Most Trusted Specialist Provider” categories Moneywise Customer Service Awards in the Summer of 2014
- RateSetter won the “Best peer-to-peer savings provider” award at the Moneynet personal finance awards in January 2014
- The business expanded into Australia in November 2014
- In November 2014, Ratesetter won the award for ‘Best peer-to-peer lender’ at the Financial Times and Investors Chronicle Wealth Management Awards
- At the end of 2014, the platform was chose to join Tech City UK’s Future Fifty programme, which supports high-growth businesses to scale and reach their full potential
- In January 2015, Ratesetter was awarded a “Mark of excellence” by the FairLife Foundation
- In June 2015, Ratesetter was voted the “UK’s most trusted P2P platform for investors” in the 2015 Moneywise awards
- Ratesetter received full FCA authorisation in October 2017.
- The IFISA was launched in February 2018
- In September 2018, Ratesetter announced that they had received £130m in IFISA subscriptions in the first 8 months since release of the product.
Ratesetter operate a provision fund to act as a buffer against borrower defaults.The Provision Fund has a 100% track record, with every investor receiving back every penny they invested, but it does not provide a guarantee. Your capital and interest are at risk if the Provision Fund is depleted by increased borrower defaults.
Target Rate5.8*% p.a.
New investor offer: £100 bonus when you invest £1,000+.
*5.8% annualised rate is the 30 day average on the 5 Year market on the 03/12/2018.
Updated: Wednesday, December 5th, 2018