RateSetter is ending its wholesale loan program after discussions with the Financial Conduct Authority; the Financial Conduct Authority has requested P2P lenders not undertake wholesale lending which provides loan capital to other businesses and financial institutions specifically for the purpose of lending; in 2016, RateSetter reported 114,347,646 British pounds ($142,591,515) in wholesale lending. Source
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Marketplace crowdfunding platform Lenderwize is reporting success as the first online lending and project financing platform for telecommunications businesses; the firm offers invoice financing, project financing and equity financing with rates of return averaging 6% to 14% annually; they recently surveyed telcos in the industry finding among other statistics a cash flow market opportunity of $22 billion; the platform now has $7.3 million in borrower requests and $10 million committed from institutional investors and six equity investors; it is also expecting new capital from business development presentations at TechFluence's Fintech Meets Telecom in Frankfurt and the Fintech Circle and AngelDen's Pitch in London. Source
The P2P Global Investments Trust has reported February performance; NAV return of 0.38% was helped by the firm's current buyback program and is the 33rd consecutive month of positive NAV returns since inception; 12 month return is 3.92% and inception to date return is 14.20%; investment manager is actively diversifying to reduce exposure to US consumer loans and shift to European real estate and bonds. Source