Founded in 2010, RateSetter was one of the United Kingdom's largest peer-to-peer lending companies. Its platform allowed individuals and institutions to lend money directly to consumer and business borrowers, bypassing traditional banks to offer potentially better rates for both parties. A key feature was its "Provision Fund," designed to reimburse lenders in the event of borrower defaults, a concept that helped build trust in the P2P market. In 2020, RateSetter was acquired by Metro Bank, which subsequently closed the platform to new investments and loans, officially ending its P2P operations. The RateSetter brand is now used by Metro Bank to service the remaining loan book.

Founded in

United Kingdom