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RateSetter is a peer-to-peer (P2P) lending exchange, allowing people to lend and borrow money directly with each other, setting their own interest rates and not being forced to take a rate set by a bank. RateSetter will cut the cost of borrowing and enable those already in debt to get out of it quicker, while at the same time increasing returns for savers.
PRODUCTS & SERVICES
European Pensions Management
Westerby Trustee Services Limited
Through the online platform, investors can nominate the amount they wish to invest, the interest rate they are ready to accept, and their request can then be matched to approved borrowers.
VALUATION / MARKET CAP:
$2.6 M in 2017
Processed $2.6 B in transactions in July 2017
BOARD MEMBERS AND ADVISORS
NUMBER OF EMPLOYEES
Daniel Foggo (CEO)
DATE OF LAST FUNDING
TOTAL FUNDING COMMENT
The company will use the new funds to run its green loan marketplace which will sanction loans to borrowers for the purchase of energy efficient products.
$46.8 M Venture Funding in March 2015; $20 M Venture Funding in May 2017 from CEFC
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