06 December 2021

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

Written By FinTech Alliance

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

A platform called Loop is being launched to enable the “informal sharing” of money between families and friends. 

In Brief:  

  • It’s founded by Paul Pester, the former CEO of TSB Bank.
  • It also includes Anthony Thompson who founded Metro Bank and Atom Bank, as well as ex-CompareTheMarket boss Matthew Donaldson.
  • Loop intends to caplitalise on an increase of informal lending among friends and family.


What does this mean?  
Loop is going into beta testing and has reportedly raised a seed round. It appears to be a kind of peer-to-peer lending platform with a social element which will enable people to easily send and receive money among a selection of known people.  

Read more here.  

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