Peer-to-peer lender Assetz hits quarter billion mark

By Ryan Weeks on Friday 19 May 2017

Alternative Lending

Assetz Capital becomes seventh peer-to-peer/marketplace lender to lend £250m.

Assetz Capital becomes seventh peer-to-peer/marketplace lender to lend £250m.

Assetz Capital, the secured peer-to-peer lending platform, has hit a cumulative lending milestone. The firm has now lent a quarter of a billion pounds to UK businesses, and is nearing 20,000 registered lenders.

Assetz entered the peer-to-peer market in 2013. Over the last four years, investors have earned around £21m by investing through the platform, earning gross interest rates of between 3.75 and 18 per cent per annum.

The firm has lent more than £60m in 2017 alone, according to AltFi Data, suggesting that its growth rate is trending upwards.

Assetz CEO Stuart Law (pictured), never one to shy away from a bold prediction, said that the platform’s growth rate shows no signs of slowing down.

Assetz Capital now has large scale, profits and cash generation – all of which has been delivered whilst investors also earn fair rates of return and borrowers have fair access to capital,” he said. “We pride ourselves on improving our services based on feedback and do everything in our power to ensure we can provide an offering that our investors both want, and have now come to expect.”

Assetz currently operates under interim permission from the regulator. It will need full authorisation before it can roll out its Innovative Finance ISA offering. Consumer lender Zopa received its authorisation last week, but the majority of the UK’s largest peer-to-peer lenders continue to operate under interim permissions.

Law has said before that the conclusions of the FCA’s ongoing review of crowdfunding rules will be a key development in the ongoing attempts of some of the biggest peer-to-peer lenders to get fully authorised. But the regulator recently advised the industry that there would be no update to the review until after the upcoming election

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.