peer to peer


Future Super dips toe into peer-to-peer lending for clean energy

Future Super will loan money to Australian borrowers so they can buy clean energy products through an investment deal with peer-to-peer lender RateSetter.


P2P lender joins aggregator panel

Aggregator Choice has added peer-to-peer (P2P) lender RateSetter to its panel, reflecting the increasing demand for lending alternatives.


RateSetter sails past $500 million in loans funded

In April RateSetter passed $500 million of consumer loans originated, making RateSetter the fastest Australian marketplace lender to reach this figure.


P2P borrowing up 45% year on year

Recent surveys conducted by ASIC have made it clear that the peer-to-peer (P2P) lending marketplace is continuing to grow in conjunction with the increasing demand for alternative funding sources. During the 2017-18 financial year, new P2P borrowing increased 45% to $433m, and outstanding loans were up 59% to $518m. While these numbers have “increased significantly” from the 2016-17 figures, the data did indicate a slight slowing in the rate of investor and borrower growth, according to ASIC. Respondents reported a total of 13,446 investors and 31,421 borrowers in the P2P space as of June 2018. In 2017-18, a total of $352m was invested in the platforms surveyed.   To read […]

Borrowers switch to P2P lending for home loans

The irresponsible lending practices uncovered by the year-long inquiry by the Royal Commission on big banks seemed to have pushed borrowers to alternative lending providers, the CEO of peer-to-peer loan provider SocietyOne said. SocietyOne’s Mark Jones told Yahoo Finance that peer-to-peer loans have already gained traction in the industry. In fact, figures from the Australian Bureau of Statistics show that personal loans’ share of the lending market doubled from 14% to 28% between 2010 and 2018. Meanwhile, data from CommSec reveal that borrowing from non-bank institutions grew 10.3% in August 2018.  “The reality is people trust the big four banks as secure, and they actually trust their local branch manager. […]


Why more Aussies are turning to peer-to-peer loans

The Royal Commission into the banks and financial services unveiled a series of disturbing, infuriating and unsurprising truths. Australia’s response to the findings could send tremors through the financial services sector as the search for alternatives to the incumbent providers becomes more urgent. It means peer-to-peer loans – which have already seen significant gains – could become even more prominent in the lending landscape, the CEO of peer-to-peer loan provider SocietyOne, Mark Jones believes. SocietyOne is an online peer-to-peer loan platform, connecting investors’ funds with borrowers’ needs. The majority of loans SocietyOne writes are personal loans. Speaking to Yahoo Finance, Jones said Australians have been resigned to accessing credit from […]


SocietyOne: Peer-to-peer lending offers a “better deal than the banks”

CEO Mark Jones reflects on six months in charge of Australia’s biggest peer-to-peer lender. SocietyOne became the first Australian peer-to-peer lender to cross $500 million in total lending in August last year. Since then, the company has enjoyed 6 months of consecutive record months for lending and is now about to pass the $600 million lending mark. After taking over as CEO in June 2018, Mark Jones has seen Australia’s first peer-to-peer lender go from strength to strength, and it remains on track to reach break-even point in March. “Over the last six months, we’ve really taken the business forward. We’re probably writing triple the business today that we were […]


Asset finance lender joins broker panel

A mortgage aggregator has expanded its lender panel to enable brokers to help customers with personal and asset finance. Loan Market Group has welcomed RateSetter as part of its commitment as the industry’s trusted advisor. It aims to be a single specialist broker which customers can entrust their portfolio of real estate, personal and asset finance needs to alongside their personal wealth, insurance and superannuation goals. Peer-to-peer lender RateSetter offers brokers access to personal loan and automotive loan products with rates from 7.49% and 5.90% respectively. Using a risk-based pricing model that delivers a personalised rate to borrowers in less than two minutes, RateSetter aims to deliver a simple, transparent […]