A Challenge to the Throne?

By AltFi on Tuesday 8 April 2014

Alternative Lending

RateSetter has passed Zopa in terms of monthly transactions for the first time.

As the Liberum AltFi Index illustrates, RateSetter consistently outstrips Zopa in terms of monthly growth rates. This is perhaps to be expected given that they have transacted less than half the total loan volume of the world’s first p2p lending platform. But RateSetter now regularly goes toe-to-toe with its forebear in terms of monthly deal flows. As P2P-Banking.com’s monthly statistical snapshot reports, RateSetter transacted €25.4m through March compared to Zopa’s €24.2m.

Rhydian Lewis, Founder and CEO of RateSetter, commented:

“As we continue our exceptional growth, at a time when UK P2P lending has exceeded the £1bn mark, it is more important than ever that our savers are well protected and we are proud of our 100% record - to date RateSetter is the only major P2P platform where every saver has received every penny. Our Provision Fund model is all about growing in a sustainable manner and giving the customer ease and enhanced security.”

This news hardly represents a changing of the guard. It is more a confirmation of what we already knew – that there are two legitimate powerhouses in the UK p2p consumer lending space.

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