04 August 2020

Metro Bank acquires RateSetter  

Written By FinTech Alliance

Metro Bank acquires RateSetter  

Metro Bank has announced it will buy RateSetter for up to £12mn.  

In Brief:  

  • RateSetter is a peer-to-peer lending platform.  

  • It won’t include RateSetter’s Australia platform which will remain owned by shareholders.  

  • RateSetter was founded in 2010 and has lent to more than 750,000 people.  

What does this mean?  

RateSetter won’t get the full potential amount straight away – reflecting the risky environment, Metro Bank will make the initial acquisition for £2.5mn, will pay up to £0.5mn 12 months after completion, then look to pay £9mn three years after the deal if certain criteria are fulfilled.  

Read more here.    

Up Next ...
28 March 2024

EToro adds 12 tokens to crypto lineup

EToro, the trading and investing platform, announced today that it ...

28 March 2024

Robinhood launches credit card

Robinhood continues to expand beyond its stock trading origins.In brief:- ...

28 March 2024

Sandbox Banking partner Plaid

Sandbox Banking and Plaid partner to strengthen identity verification and ...

27 March 2024

Targeting $180M in Revenue, Vault Aims to Lead the $50B Digital Crypto Banking Market

Written By: Vault

Vault's approach of providing personalized, effective, and affordable white label solutions for digital and crypto banking has captured the interest of a diverse range of...

More in P2P Lending

Zopa winds down peer-to-peer lending to focus on banking

09 December 2021

Zopa, which began as a peer-to-peer lending FinTech, has confirmed ...

“Social” lending platform Loop launched by former Virgin Money, Atom Bank heavyweights

06 December 2021

A platform called Loop is being launched to enable the ...

Zopa set for IPO and buy now, pay later offering

29 June 2021

Peer to peer lending FinTech Zopa is not only still ...

German P2P lender auxmoney raises €150mn  

03 September 2020

auxmoney, a peer-to-peer lending marketplace, has raised €150mn growth capital.  ...

White Papers P2P Lending

The outlook for peer-to-peer lending firms in 2019/2020

31 March 2019

Bovill's analysis of peer to peer lending regulation and what can be expected considering the ai...

There are no Events in this category