The value of gross marketplace lending conducted by tech-enabled platforms also rose by more than £500m.
Gewolb's warning follows the collapse of peer-to-peer platform Funding Secure.
Johan Groothaert (pictured) is CEO of Fiduciam Whilst the P2P model gained traction rapidly following the financial crisis, it exhibits a number of shortcomings. Firstly, retail clients and investors are often simply driven by yield, not evaluating the risks sufficiently. In some cases ‘mom and pop’ type investors are not sophisticated enough to analyse the […]
Brightstar have terminated a lender from its panel citing ‘horrific sexism’ as the main reason. The BridgeCrowd, a P2P secured bridging lender based in Manchester, have been cut from Brightstar’s panel after they released an sexualised advert (pictured) of a woman’s chest publicising their bridging loans starting at £25,000. Clare Jupp, director of people development […]
Scottish fintech lending platform LendingCrowd has appointed Robbie McKenzie (pictured) to the newly created role of general counsel and chief risk & compliance officer. A dual-qualified lawyer holding practising certificates in both Scotland and England, McKenzie will lead LendingCrowd’s legal, risk and compliance function and act as anti-money laundering officer. Stuart Lunn, founder and chief executive […]
The peer-to-peer lender admitted it can make “substantial improvements” to its recovery process.
Rob Pailin is managing director at Assetz Capital As the alternative finance market has become saturated with different funding options, it can be difficult for brokers to determine the best solution to suit their clients’ needs. Traditional banks tend to use attractive headline rates to entice potential customers, but have generally cut down on lending […]
Assetz Capital, a peer-to-peer finance platform, has facilitated trading in second-hand loan parts of £300m on its secondary market since its inception. In addition to the £300m worth of loan units traded on the aftermarket, investors opting for the access accounts have traded more than £400m in redemptions. Stuart Law, chief executive of Assetz Capital, […]
Lendy has returned £7.92m to its lenders making it the UK’s biggest ever peer-to-peer (P2P) loan repayment. The loan, secured against the former Kentish Town Studios building in North London, has been repaid in full 21 days ahead of schedule. Made up by almost 3,500 lenders and drawn down in late October 2016 on a […]
Assetz Capital, one of the UK’s largest P2P platforms, has received full authorisation from the FCA. Assetz Capital is now in the final stages of completing its work on its innovative finance ISA which will be ready to distribute in Q4 2017. Assetz Capital’s secured loan model, which has earned investors in excess of £26 […]