RateSetter Australia gets a credit ratings upgrade

SQM Research upgrates RateSetter's credit rating to favourable

RateSetter Australia has been given a favourable rating by an independent agency, in a sign that trust in fintech is growing.

RateSetter Australia’s lending platform has been given a ‘Favourable’ rating by SQM Research, an independent ratings agency. In a sign that fintech lenders are gaining trust in Australian financial circles.

Justifying its rating, SQM noted that no investor has suffered a loss of principal or interest on RateSetter’s platform.

It also favourable noted RateSetter’s staff, which includes former ING Direct boss Vaughn Richtor, the company’s successes overseas, and its provision fund (in effect, an insurance pool designed to limit the risk to investors.)

“We are delighted to receive an upgraded rating from SQM Research,” said Daniel Foggo, CEO of RateSetter Australia.

“The Favourable rating highlights the progress we have made in providing investors with a simple, safer way to access consumer and business credit.

“We are committed to making this attractive asset class available to more investors, delivering them stable and risk-adjusted returns, and look forward to further increasing our investment-grade ratings as we do so.”