On Thursday, peer-to-peer lending platform RateSetter announced it is celebrating its seventh anniversary this weekend. This celebration comes two months after the platform announced its lenders have now delivered more than £2 billion in loans to people and businesses across the UK and in doing so have earned over £76 million in interest.
The online lender revealed that since its launch in 2010, its platform has now facilitated loans worth more than £2.1 billion and linking 57,000 lenders with 388,000 borrowers. RateSetter also noted that its lenders have earned a total of £82 million of interest on its platform, at an average rate of 4.36%. As part of the anniversary celebration, RateSetter’s founder and CEO, Rhydian Lewis, outlined the platform’s objectives at a recent speech. See it below.