P2P Lending in the United Kingdom

The UK Market for Peer-to-Peer Lending

The United Kingdom is, by far, the largest P2P lending market in the European region taking up a market share of astonishing 72.5%. The same is true when it comes to the overall category of crowdfunding (market share of 67.7%) that covers both debt-based crowdfunding, equity-based crowdfunding, reward-based crowdfunding, and donation-based crowdfunding. In a worldwide perspective, the UK is surpassed only by the two dominating forces in peer-to-peer investing, China and the USA.

In this article, you will find a complete list of all peer-to-peer lending platforms in the UK, followed by a presentation of the latest data on the UK market for P2P lending.

Table of Contents

Best P2P Lending Platforms in the United Kingdom

Below, you will find a list of the top peer-to-peer lending platforms in the UK. Under each platform, you will find a brief description of the platform and the type of P2P lending available for investing on the platform. The list is sorted alphabetically, but to promote platforms contributing to transparency in the market, we have placed the platforms sharing data about their funding volume and other relevant statistics on the top. If you see a platform missing, please feel free to submit the platform by using the submit formula located in the sidebar of this page

Ablrate

Ablrate facilitates crowdfunding in the area of SME business and real estate lending to UK companies at a minimum investment of £100. The platform offer financing to UK companies within property, capital equipment and eco-projects. Ablrate was founded in 2014 by David Bradley-Ward and Tony Griffin as a UK company, through the company Aviation and Tech Capital. The office and company is located in London, UK and only provides loans to businesses within the United Kingdom. All loans are in British Pounds (GBP).

Individual, LLP, Limited company or persons over 18 years old can become lenders on Ablrate. Overseas investors excluding USA are allowed and can sign up by contacting the platform directly.

All types of UK businesses and property professionals can apply for a loan to be funded on Ablrate through any of their loan introducers.

Assetz Capital

Assetz Capital facilitates crowdfunding in the area of real estate business lending and SME business lending to property professionals and owners of UK real estate at a minimum investment of £1. The platform offers a variety of different loans; commercial mortgages, secured SME loans, development loans, buy-to-let loans, residential refurbishment loans and bridging finance. Assetz Capital was founded in 2012 by David Penston, Stuart Law and Chris Mellish as a UK company. The office and company is located in London, UK and exclusively help finance companies and real estate within the United Kingdom. All Loans are in British Pounds (GBP).

Assetz Capital offers a £50 bonus to all new lenders, to get the bonus you must invest £1,000 or more for a period of 12 months. Use this link before registering to activate the bonus.

Any company or person above 18 from EU with a UK bank account.

UK real estate developers and SME companies with a financing volume of €200,000 to €2.5 million and a duration of 1 – 60 months.

AxiaFunder

Axiafunder facilitates crowdfunding in the area of commercial litigation for business cases primarily in the United Kingdom at a minimum investment of £500. The platform offers financing for any type of commercial court cases such as commercial fraud, professional negligence and general commercial litigation cases. Axiafunder was founded in 2017 by Champerty Limited as a UK company. The office and company is located in London, United Kingdom and primarily offer it’s services to British businesses but considers international cases as well. All loans are in British Pounds(GBP).

Any UK resident aged 18 or over that can categorize as ‘High Net Worth Investor’ or a ’Self-Certified Sophisticated Investor’ defined by the FCA’s Conduct of Business Sourcebook. Companies, Organisations and institutions can also invest on the platform ex. USA and North Korea.

Anyone with a commercial court case in the United Kingdom can apply for funding on Axiafunder. The platform also recently started considering international cases.

Blend Network

Blend Network facilitates crowdfunding in the area of real estate business lending to UK property professionals at a minimum investment of £1,000. The platform offers bridge and development financing for acquisition and refurbishment of residential and commercial property across the United Kingdom. Blend Network was founded in 2017 by Yann Murciano as a UK company. The office and company is located in London, UK and exclusively raises funding for real estate located within the United Kingdom. All loans are in British Pounds (GBP).

Any company or person above 18 can invest on Blend Network except from blacklisted countries, USA and Canada.

UK real estate developers with a financing volume of €150,000 to €3 million and a duration of 2 – 36 months.

CapitalRise

CapitalRise facilitates crowdfunding in the area of real estate business lending and equity based crowdfunding for UK property professionals at a minimum investment at £1,000. The platform raises debt and equity for a large range of real estate types; residential, commercial, industrial, self-storage, hospitality, and retail. CapitalRise was founded in 2015 by Andrew Dunn, Alex Michelin and Uma Rajah as a UK company. The office and company is located in London, UK and exclusively offers financing to developers with property within the United Kingdom. All loans are in British Pounds (GBP).

CapitalRise offers a 1% bonus to all new lenders, to get the bonus you must invest minimum £1,000. Use this link before registering to activate the bonus.

Any company or persons at least 18 years old with a UK bank account can invest on CapitalRise.

UK real estate developers with a UK bank account and a financing volume of €500,000 to €20 million and a duration of 6 – 7 years.

CrowdProperty

CrowdProperty facilitates crowdfunding in the area of real estate business lending to property professionals in UK at a minimum investment of £500. The platform offers financing to new build, self-build, commercial to residential conversion, extension and refurbishment, bridging purchases, auction purchases among others. CrowdProperty was founded in 2013 by Andrew Hall, Michael Bristow and Simon Zutshi as a UK company. The office and company is located in London, UK and exclusively offers financing to real estate developers and property within the United Kingdom. All loans are in British Pounds (GBP).

Individuals over 18, that have a UK bank account and address within EU together with shareholders or directors of companies can invest on CrowdProperty.

Any real estate developers can lend through CrowdProperty, as the platform evaluates every property project individually they have no official specific criteria.

Funding Circle UK

Funding Circle UK facilitates crowdfunding in the area of SME business lending to companies in the United Kingdom. The platform exclusively offers unsecured loans to businesses that require shareholder guarantees with all company assets or specific assets secured. The platform was founded in 2010 by Alex Tonelli, Andrew Mullinger, James Meekings, Sam Hodges and Samir Desai as a UK company. The office and company is located in London, UK but also has a branch in USA, Netherlands and Germany that operates in the same way, but only for the citizens and companies of the respective countries. All loans are in British Pounds (GBP).

Any permanent UK resident of at least 18 years old and UK registered companies with a UK bank account can lend on Funding Circle United Kingdom branch. 

Any UK registered business with 2 years of trading history, 1 year of filed or formally prepared accounts, UK ownership or resident directors and no outstanding CCJ’s registered in the last 12 months or above £1,000 can apply for a loan on Funding Circle UK. Loans are from £10,000 to £350,000 and a duration of 6 months to 5 years.

Kuflink

Kuflink facilitates crowdfunding in the area of real estate business lending to UK property owners at a minimum investment of £100. The platform offers financing to both residential and commercial property for development, bridge finance, auction purchase, refurbishment projects, growing property portfolio or simply funding business projects. Kuflink was founded in 2016 by Harwinder Singh and Rawinder Binning as a UK company. The office and company is located in Gravesend, UK and only offers financing to owners of UK property to put up as collateral. All loans are in British Pounds (GBP).

Any person aged 18 or above with a UK address and bank account can invest on Kuflink.

Anyone with a UK property to provide as security can apply for a loan on Kuflink.

Landlordinvest

Landlordinvest facilitates crowdfunding in the area of real estate lending to UK property professionals at a minimum investment of £100. The platform offers loans to real estate developers for both residential buy-to-let and bridge finance without any specific income requirement. Landlordinvest was founded in 2014 by Filip Karadaghi, Joe Vallender and Nikolajs Smirnovs as a UK company. The office and company is located in London, UK and the platform only offers financing to developers with property in England and Wales. All loans are in British Pounds (GBP).

Any person aged 18 or above can invest on Landlordinvest.

Any UK resident above 21 or UK company with a UK bank account and a property located in England or Wales can apply for a loan from £30,000 to £300,000.

LendingCrowd

LendingCrowd facilitates crowdfunding in the area of SME business lending to UK companies at a minimum investment of £20. The platform offers loans for the purpose of debt refinancing, working capital, asset purchase and growth in the sectors of hospitality, retail, e-commerce and manufacturing. LendingCrowd was founded in 2014 by Stuart Lunn as a UK company. The office and company is located in Edinburgh, UK and only offers financing to companies within the United Kingdom. All loans are in British Pounds (GBP).

Any UK resident aged 18 or above with a UK address and UK bank account can invest on LendingCrowd.

UK registered businesses with a financing need of £5,000 to £500,000 and a duration from 6 months to 5 years.

Lendwise

Lendwise facilitates crowdfunding in the area of student lending to UK citizens at a minimum investment of £10. The platform offers unsecured loans to graduate studies such as MBA, Master and PhD’s increasing the likely of repayment with the higher likelihood of obtaining a well paying job after finished education. Lendwise was founded in 2016 by Ioannis Georgiou as a UK company. The office and company is located in London, UK and the platform only offers student loans to UK students. All loans are in British Pounds (GBP).

Any person aged 18 or above with a UK address and UK bank account can invest on Lendwise.

Any UK citizen looking for financing their MBA, Master or PhD with a loan from £5,000 to £100,000 and a duration up to 10 years.

Loanpad

Loanpad facilitates crowdfunding in the area of SME business lending and real estate business lending to UK individuals and companies at a minimum investment of £10. The platform offers financing to both property development, bridging and business expenses through its lending partners. Loanpad was founded in 2018 by Louis Schwartz as a UK company. The office and company is located in London, UK and exclusively funds individuals and companies located within the United Kingdom. All loans are in British Pounds (GBP).

Any legal entity (company) or person aged 18 or above with a UK address and UK bank account can invest on Loanpad.

Through their lending partners companies and individuals looking for short-term funding of 3 to 18 months can borrow on the platform as long as property can be used as collateral for the loan.

Property Crowd

Property Crowd facilitates crowdfunding in the area of real estate lending and equity based real estate crowdfunding at a minimum investment of £900. The platform offers three main types of funding for real estate developers; Senior debt, Mezzanine debt and Equity offered as a share issue. Property Crowd was founded in 2013 by Scott Trapnell as a UK company. The office and company is located in London, UK and only works with real estate developers and property professionals within the United Kingdom. All loans are in British Pounds (GBP).

Only available for institutional, professional, or self-certified high net worth or sophisticated investors as per the FCA rules qualification.

The platform do not choose the borrowers themselves but is an independent marketplace platform that has carefully selected principal lenders and asset managing partners that originate the real estate opportunities.

RateSetter

RateSetter facilitates crowdfunding in the area of personal, real estate and SME business lending to UK individuals and companies at a minimum investment of £10. The platform offers both loans backed by real estate, business assets and unsecured personal lending among others. RateSetter was founded in 2010 by Peter Behrens and Rhydian Lewis as a UK company. The office and company is located in London, UK and only provides loans to companies and residents of the United Kingdom. All loans are in British Pounds (GBP).

Private individuals must be at least 18 years old with a UK bank account. Registered companies with a UK bank account are allowed.

RateSetter offers loans in several different categories:

  1. Personal borrowers need to be UK resident of at least 18 years old and deemed creditworthy without any bankruptcies or debt relief orders. Eligible to apply for £3,000 to £25,000.
  2. Property professionals need minimum 5 years development experience, max. Loan to Cost at 80%, max. Loan to Gross Development value 65%, full planning permission, min. 10% contingency on hard construction cost and at development exit max. 70% Loan to Value. Eligible to apply for £0.5 million to £10 million.
  3. Business asset borrowers must have two years filed accounts and three months bank statements and some sort of new or used asset to put as security. Eligible to apply for £25,000 to £500,000.
  4. Among others such as family finance, lending businesses, unsecured business and individuals secured.

Thincats

Thincats facilitates crowdfunding in the area of SME business lending to UK based companies at a minimum investment of £1,000. The platform offers asset backed lending to businesses within the purposes of working capital, equipment purchase, acquisition financing and finance restructuring. Thincats was founded in 2010 by Kevin Caley as a UK company. The office and company is located in Leicastershire, UK and only provides loans to businesses within the United Kingdom. All loans are in British Pound (GBP).

Thincats is at the moment not accepting new retail investors.

Any type of UK based SME company that have been operating for at least 2 years or more profitably and can provide security either backed by assets or cashflows with a minimum financing need of £1 million up to £15 million.

Zopa

Zopa is the first platform in the world to facilitate crowdfunding in the area of personal lending (and lending in general). Private individuals and businesses can lend to other UK private individuals at a minimum investment of £10. The platform offers personal unsecured loans from UK citizens for various uses such as consumption or a car. Zopa was founded in 2005 by Dave Nicholson, Giles Andrews, James Alexander, Richard Duvall and Tim Parlett as a UK company. The office and company is located in London, UK and only provides loans within the United Kingdom. All loans are in British Pounds (GBP).

All UK residents who are 18 or above with a UK bank account can invest on Zopa. UK based companies that are not engaged in the trade of money-lending can also invest.

Any UK citizen at least 20 years old, with a 3 year address history that is employed, self-employed or retired with a pension who have an income over £12,000 yearly and a good track able credit history can apply for a £1,000 to £25,000 loan in a duration of 1 – 5 years.

CrowdLords

CrowdLords facilitates crowdfunding in the area of real estate business lending and equity based crowdfunding to UK property professionals at a minimum investment of £1,000. The platform offers lending & equity financing to new builds, commercial to residential property conversion and rental properties projects. CrowdLords was founded in 2014 by Richard Bush as a United Kingdom company. The office and company is located in London, UK and only offer loans to real estate companies located in UK. All loans are in British Pounds (GBP).

Any legal person of at least 18 years old or Limited Company can register. All investors are required to successfully complete the “Appropriateness Test”. All UK individual investors are treated as retail clients. It is possible to invest from outside UK but US residents are not permitted on the platform.

UK real estate developers looking for financing with debt or equity for new builds, residential conversions or rental properties.

Crowdstacker

Crowdstacker facilitates crowdfunding in the area of business lending to SME companies in UK at a minimum investment of £1 or higher if set by the borrower. The platform offers lending to all different types of businesses in the UK. Crowdstacker was founded in 2014 by Karteek Patel and Mark Bristow as a UK company. The office and company is located in London, UK and only offer loans to businesses located in UK. All loans are in British Pounds (GBP).

Persons 18 years old or over, companies and charitable organisations can invest on Crowdstacker.

All types of UK businesses Crowdstacker and its credit comitee sees fit for funding on the platform with a financing volume from £1m to £50m and up to 5 years.

Investly UK

Investly UK facilitates crowdfunding in the area of invoice business lending to UK and Estonian companies at a minimum investment of £10 or €10. The platform offer invoices for investors to buy, that then hold the invoice until payment of purchases from all types of businesses in UK and Estonia. Investly was founded in 2013 by Ruth Chamberlain, Siim Maivel and Vishal Sahu as a UK company. The office and company is located in London, UK but the platform also offer invoices from sales of Estonian companies. All invoices are in British Pounds (GBP) or Euro (EUR).

To be eligible to invest on Investly you must be a company or citizen/resident of the European Economic Area (EAA) and aged 18 or over. Note that E-residents of Estonia are eligible to become investors. 

In order to get invoices financed on Investly the company needs to be based in UK, have been running for at least 6 months with a good credit standing and can not have any ongoing court issues.

Market Finance

Market Finance facilitates a marketplace in the area of invoice financing for companies all over the world, starting at a minimum investment of £50,000. The platform offer invoices for investors to buy and hold until payment of purchase is received from all types of businesses throughout the world. Market Finance was founded in 2010 by Anil Stocker, Charles Delingpole and Ilya Kondrashov as a UK company. The office and company is located in London, UK but the platform sells invoices from large companies all over the world. All invoice investments are in British Pounds (GBP).

To start investing on Market Finance you need to be apply, checked and accepted before you can begin. They accept applications from high net worth individuals, sophisticated investors and institutional investors (hedge funds, investment companies and family offices). The minimum deposit is £50,000.

There are no minimum or maximum requirement and all credit-worthy costumers from any country is allowed. There is a selection of criteria that help them estimate if you are credit-worthy for the platform, such as ownership of the company, size, profitability and geographic location.

Octopus Choice

Octopus Choice facilitates crowdfunding in the area of real estate business lending to UK residential and commercial property at a minimum investment of £10. The platform offers lending to both already built rental property as well as development & construction projects. Octopus Choice was founded in 2009 by Octopus Ventures as a UK company. The office and company is located in London, UK and only provides loans to businesses within the United Kingdom. All loans are in British Pounds (GBP).

Private individuals age 18 or above and companies with a UK bank account can invest on Unbolted. Overseas investors are allowed if they have a UK bank account and can sign up by contacting the platform directly.

Property professionals that seek financing with a duration up to 5 years and for residential property can stay within an LTV of 75%, for commercial property the maximal LTV is 65%.

Rebuildingsociety

Rebuildingsociety facilitates crowdfunding in the area of SME business lending in UK at a minimum investment of £10. The platform offer financing to British SMEs of all shapes and sizes for various uses such as business purchase, growth, R&D, staff, equipment and more. Rebuildingsociety was founded in 2012 by Daniel Rajkumar as a UK company. The office and company is located in Leeds, UK and only provides loans to businesses within the United Kingdom. All loans are in British Pounds (GBP).

Persons 18 or above and legal entities such as businesses can invest on Rebuildingsociety.

All types of UK businesses that are either Limited company, LLP or PLC can apply for a loan but must have 2 years of filed up to date accounts and no outstanding county court judgments. The companies can request funding from £25,000 to £250,000 with a duration of 6 – 60 months.

Unbolted

Unbolted facilitates crowdfunding in the area of pawnbroking, also called lending against personal assets, to UK persons or companies at a minimum investment of £5. The platform offers loans backed by personal assets such as art, antiques, gold and luxury assets. Unbolted was founded in 2014 by Ashwin Parameswaran and Rito Haldar as a UK company. The office and company is located in London, UK and only provides loans against physical items send to them  at their selected address in UK. All loans are in British Pounds (GBP).

Private individuals age 18 or above and legal entities with a UK bank account can invest on Unbolted.

Any person or company with assets of value such as art, gold, antiques and luxury assets can apply for a loan of minimum £500 and up to 12 months by simply taking a photo of it and if approved, sending the item and then receiving the money.

Alternative Finance in the United Kingdom

The most updated statistics on peer-to-peer lending in the United Kingdom you will find here on P2P Market Data as we update our data every month immediately after we receive the data from the platforms. The funding volume for the UK market can be found here (both P2P lending and equity crowdfunding).

Another source of data collection that can be useful to use is the Cambridge Centre for Alternative Finance (CCAF). The centre has produced rapports on the online alternative financing in the UK since 2013 recording the market development and identifying emerging trends. The latest rapport was published in 2018 using survey data collected between May 2018 and September 2018 from 75 platforms capturing an estimated 95% of the market. In addition, web-scraping methods were used to add two more platforms, thus increasing the research sample size to 77 UK platforms.

The total UK market volume for alternative finance in 2017 was £6.15 billion up from £4.51 billion in 2016, which corresponds to a growth rate of 36.3%. In the figure below, you can see the total UK market development in funding volume from alternative finance from 2014-2017. In the remaining years, the yearly growth rate was 44.7% in 2016 and 84.7% in 2015.

In comparison, next on the list in the European region is France with a total funding volume of €0.66 billion, Germany with €0.60 billion, and the Netherlands with €0.28 billion. On the other hand, there is a long way up to the United States with a funding volume of $42.8 billion and China with €358.28 billion (however, please note that the Chinese crowdfunding is notoriously known for fraud, why the data is very insecure).

Statistics About P2P Lending in the UK

The CCAF-report includes many different types of crowdfunding and alternative finance but for our purpose, we will focus on the numbers reported on P2P consumer lending, P2P business lending, and P2P property lending, which are the three peer-to-peer lending business models identified by the CCAF in the UK market.

The total alternative finance volume in 2017 was split between nine different business models of which the three P2P lending models accounted for the majority of the market. This is illustrated below.

Here, P2P business lending accounted for just over £2 billion (33.2% of the market), P2P consumer lending for £1.4 billion (22.8% of the market), and P2P property lending for £1.22 billion (19.8% of the market). Thus, when looking at the market for alternative finance in the UK we see a very clear dominance of peer-to-peer lending, which has been true ever since data collection on the UK market started. What is interesting though is that we see a large difference in the growth rate of each P2P lending model.

Below, you will find a figure showing how P2P lending has developed in the UK from 2011-2017.

In the period 2011-2017, P2P lending in the UK has had an average annual growth rate of 103.2%. In 2017, the year-on-year growth rate was down to 31.3% and was largely carried by P2P business lending that had the highest growth rate of the three P2P lending models, growing 33.2% from £1.23 billion in 2016 to £2.04 billion in 2017. In the same period, P2P consumer lending experienced a growth rate of 22.8% from £1.17 billion to £1.40 billion, while the growth rate of P2P property lending was slowed to only 6.2% from £1.15 billion to £1.22 billion.

Next on the list in the European region when it comes to peer-to-peer lending are France and Germany with a total funding volume of €410. 7 million and €396.7 million, respectively.

Taxation on Peer-to-Peer Lending in the UK

In the United Kingdom, you are taxed the same way on interest earned from P2P loans as for any other type of interest received, and interest from peer-to-peer lending can be paid both with and without a tax deduction.

Because interest earned through peer-to-peer lending is usually considered as income, it is possible for basic rate taxpayers to earn up to £1,000 of tax-free interest income. This means that any basic rate taxpayer would have to reach considerable investment volumes before they are taxed of their income from P2P lending. If you are a higher rate taxpayer, the tax-free interest you are allowed to earn is reduced to £500, whereas additional-rate taxpayers are not allowed to earn any tax-free interest. Remember, the personal tax-free allowance includes interest earned from both peer-to-peer loans and saving accounts. For interest earnings that exceed your tax-free allowance, you will pay income tax according to your normal tax rate, which is 20% for basic-rate taxpayers, 40% for higher-rate taxpayers, and 45% for additional-rate taxpayers.

When investing in P2P lending as a UK resident it is also possible to make use of the so-called Innovative Finance Individual Savings Account (IFISA). This makes it possible to keep your peer-to-peer loans in an Individual Savings Account (ISA) where all interest and capital gains are tax-free.

To learn more about how P2P lending is taxed in the UK and how to claim a tax relief, the UK tax authority, HM Revenue & Customs, has made a guide with the purpose of explaining just that.

P2P Lending Regulation in the United Kingdom

Peer-to-peer lending platforms in the UK is regulated by the Financial Conduct Authority (FCA) under the Financial Services and Markets Act 2000.

Below, you will find an overview of some of the most important aspects of the regulatory framework for lending-based crowdfunding in the UK. These highlights can also be found in the impact assessment accompanying a proposal for a regulative framework on crowd and P2P finance presented by the European Union in March 2018.

  • Bespoke Regime: Yes
  • Scope of lenders and borrowers: Consumer-to-Consumer; Business-to-Consumer; Consumer-to-Business; Business-to-Business if the borrower is a sole trader or a partnership consisting of two or three persons or an unincorporated body of persons and the loan amount does not exceed £25,000.
  • Entry into force: 1 April 2014
  • Authorisation: Authorisation by FCA. Platforms may also need other permissions, depending upon the activities they undertake
  • Money handling: Where firms are responsible for client money, they are subject to rules in the FCA Client Assets Sourcebook (CASS), especially the client money rules (CASS 7), which ensure adequate protection of client money.
  • Minimum capital requirements: €50,000 or a percentage of loaned funds – whichever is higher
  • Type of loans: All types of loans, including secured and unsecured loans, loans to businesses and loans to consumers.
  • Business continuity requirements: Continuity arrangements need to be in place so existing loans can be administered even in the event of a firm running a platform failing.
  • KYC rules (suitability or appropriateness; AML checks):
    • As of 6 April 2016: firms providing personal recommendations to invest in P2P agreements will be providing a regulated activity).
    • No appropriateness test for lending-based crowdfunding
    • Platforms must establish, implement and maintain adequate policies and procedures sufficient to ensure compliance of the firm including it managers, employees and appointed representatives (or where applicable, tied agents) with its obligations under the regulatory system and for countering the risk that the firm might be used to further financial crime.
  • Size of loans: No maximum.
  • Maximum investable amounts: No maximum.
  • Disclosure to investors by borrower:
    • Where creditor does not lend in the course of business and borrowers are consumers: platform must provide adequate pre-contractual explanation to the borrower. In addition, all communications by the platform must meet FCA requirements to be clear, fair and not misleading.
    • Where the creditor lends in the course of business the full protections required by the Credit Consumer Act and FCA rules apply.
  • Information requirements & risk warnings by platforms
    • Information on the platform and its services, including: contact details, a statement that the firm is authorised, details of what performance reports the client can expect, and the firm’s conflicts of interest policy.
    • General description of the nature and risks of a product, in sufficient detail, so the client can take investment decisions on an informed basis.
    • Platform must send a statement at least once a year of the investments and client money held by the firm for the client.
  • Due Diligence:
    • No obligation on what due diligence procedures must be followed.
    • Platforms must disclose the nature of their service and appropriate information about it. Disclose sufficient information about the nature of service so investors understand what due diligence is undertaken and the need to conduct additional due diligence of their own before investing.
  • Conflict of interest: Platforms to identify possible conflicts of interest that may entail a material risk of damage to the interests, to keep a record of these possible conflicts and take all reasonable steps to avoid the conflict leading to loss for clients. Where the risk cannot be managed, it should be disclosed to clients.
  • Professional requirements: Platforms to have appropriate resources employ people who are competent, fit and proper for their role, and to have a suitable business model. The employees controlling the business must have honesty, integrity and good reputation. They must be financially sound and have appropriate competence and capability for their role.

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