P2P Lending Site Ratesetter Raises another 600k

UK p2p lending service Ratesetter has raised another 600,000 GBP from undisclosed existing and new investors. The total equity funding of the company now is 1.5 million GBP. The additional funding will be used for marketing purposes.

RateSetter co-founder and CEO Rhydian Lewis said: “We’re thrilled that RateSetter has earned the confidence of some well-respected investors. The response to RateSetter has been very positive and has exceeded our expectations. Our users enjoy the benefits of high returns on their savings and low cost, flexible borrowing.”

P2P-Banking.com wrote an review on Ratesetter when they launched in October 2010 (RateSetter brings rolling monthly loans to p2p lending). Since then the company grew considerably reaching 2 million GBP lent by lenders in the first two month.

If you are a Ratesetter lender or borrower please do share your experiences and opinions. Write a review on Wiseclerk’s Ratesetter forum. Thank you.