The P2P lending platform made the announcement after recently revealing that it had generated £100m in interest for its investors.

More than £1.55bn has been lent to individuals, while almost £950m has been lent to businesses. 

The platform has seen over 500,000 people invest or borrow with RateSetter, with investors earning an average annual return of 4.4% to date.

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Peter Behrens, chief lending officer at RateSetter (pictured above), said it was very proud to have helped more than half a million investors and borrowers.

“Reaching this milestone shows how deep and broad our marketplace has become in [the] space of just eight years, and we look forward with great excitement to helping even more people access investment in loans as we work towards the next £2.5bn of lending.”