$150 million in loans funded
In August we were delighted to pass another significant milestone in the growth of RateSetter in Australia – reaching $150 million in loans funded.
We were also pleased to reach a new record of $12 million in loans funded in a month, meaning we are not only the largest peer-to-peer or marketplace lender in Australia by the number of lenders, but also by both the number and value of loans funded each month.
Our recent growth, since we passed $100m in March, has been accelerating as we attract an ever-increasing number of creditworthy borrowers, and continue to gain strong support from a growing number of lenders registered on our investment platform, now totalling over 7,700 “RateSetters”.
No doubt this growth has been supported by some of the recognition we have gained through various industry awards, including the recent Finnies and SMSF awards.
Leading the transition
Our growth is also evidence that in finance, similar to other industries such as accommodation and transport, an increasing number of Australians are recognising that new economy service providers such as RateSetter are better placed to act in their interests and help them achieve their goals.
We are proud to be helping to lead this transition by giving everyday Australians a genuine alternative to traditional financial institutions; providing investors better returns across both our short term and long term lending markets and creditworthy borrowers a better deal with low rate personal loans for a range of purposes.
This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of RateSetter as at the date of publication and may later change without notice.