Founded in 2010 by Rhydian Lewis and Peter Behrens, both 38, RateSetter matches borrowers and lenders online, enabling both to pick their own interest rates. The London company says that it has taken advantage of the increase in non-traditional borrowing to boost its turnover, which represents fees, to £12.5m this year. RateSetter also says it was the first peer-to-peer lending platform to introduce a provision fund to protect investors. It opened operations in Australia last November.
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