peter behrens headquarters london england uk area served uk products financial services website https www.ratesetter.com ratesetter is a british peer to peer lending company originally based in southwark london . the company is known for having introduced the concept of a provision fund into peer to peer lending . launched in october 2010 the company has matched more than 1bn in peer to peer loans and has over 1 000 000 registered users . 1 contents 1 history 2 products 3 awards 4 see also 5 references 6 external links history edit ratesetter s holding company retail money market ltd was incorporated in october 2009 by rhydian lewis an investment banker from lazard and peter behrens a lawyer turned banker formerly of royal bank of scotland . 2 the company was privately funded from the start by angel investors and raised 20m in its most recent funding round . 3 4 5 6 in july 2014 it was announced that the british business bank will begin lending through ratesetter to support individuals sole traders or partnerships borrowing for business purposes . 7 ratesetter opened a site in australia in november 2014 . 8 on 7 december 2015 ratesetter moved from southwark to new offices in bishopsgate london . 9 products edit ratesetter is based on the principle of an exchange with borrowers and lenders competing for matched loans based on price with both sides of the market specifying the rate they will accept . the firm has four markets for lenders to participate in 1 month 12 months 36 months and 60 months . 10 11 borrowers can apply for a loan for between 6 and 60 months . the company has strict lending criteria accepting between 12 and 15 per cent of borrower applications . 12 the firm introduced to consumer finance the concept of a provision fund to reimburse lenders in the event of a late payment or default . this is a capital sum over 17 000 000 as of september 2016 13 generated by borrowers payment of a credit rate fee based on their credit profile . as of september 2016 ratesetter claims that none of its individual investors have ever lost money . 13 awards edit the firm won the moneywise most trusted alternative financial provider award 2013 . 14 in may 2013 it won the credit today award for best alternative lender of the year consumer . 15 it has been awarded 5 stars by defaqto for its 3 4 and 5 year fixed personal loans . 16 the firm is a founding member of the p2p finance association 17 the first trade association for the peer to peer finance industry . see also edit zopa funding circle peer to peer lending references edit ratesetter statistics . retrieved 2 december 2015 . hurley james 7 october 2010 . daily telegraph . the daily telegraph . london . retrieved 10 september 2011 . peer to peer lender ratesetter doubles sales as it targets listing . retrieved 3 november 2015 . management today . retrieved 10 september 2011 . ratesetter press pdf . retrieved 7 november 2011 . ratesetter blog . retrieved 11 july 2013 . vicki owen 2014 07 13 . government owned british business bank to begin lending 10m through peer to peer lender ratesetter . this is money . shaun drummond . ratesetter targets australian savers with new lending website . the sydney morning herald . retrieved 11 november 2014 . lucy bott . we are moving . ratesetter blog . retrieved 2015 12 07 . ratesetter . retrieved 10 september 2011 . ratesetter press . retrieved 6 march 2012 . scotsman . retrieved 10 september 2011 . a b ratesetter provision fund . retrieved 1 september 2016 . moneywise most trusted alternative financial provider award . retrieved 17 june 2013 . credit today award for best alternative lender of the year consumer . retrieved 17 june 2013 . defaqto star ratings . retrieved 18 may 2012 . p2p finance association . retrieved 18 may 2012 . external links edit ratesetter retrieved from https en.wikipedia.org w index.php title ratesetter & oldid 737248200 categories peer to peer lending companies navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 1 september 2016 at 16 03 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view