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January 14, 2014 07:04 pm GMT
A new UK startup is giving P2P lending a go. Competing most directly with Zopa, and RateSetter, London-based Lending Works has opened for business this week, matching those that have savings to grow, with those that need to borrow money.But its claimed unique selling point is the level of protection it gives to lenders. Whereas existing P2P lenders will dip into reserve funds to repay lenders if borrowers default, Lending Works insures against default and risk, at no extra cost to customers. Or so the pitch goes.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/7mWVff1jZUI/
After Raising 3.5M Pre-Launch, Lending Works Opens Its P2P Loans Business In UK
A new UK startup is giving P2P lending a go. Competing most directly with Zopa, and RateSetter, London-based Lending Works has opened for business this week, matching those that have savings to grow, with those that need to borrow money.But its claimed unique selling point is the level of protection it gives to lenders. Whereas existing P2P lenders will dip into reserve funds to repay lenders if borrowers default, Lending Works insures against default and risk, at no extra cost to customers. Or so the pitch goes.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/7mWVff1jZUI/
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