RateSetter's lends £278m in one year

RateSetter has advanced in the league of P2P platforms after turning a profit and being recognised by the Government-backed Future Fifty programme.

The past year has seen the lender lend £278 million which is more than £20 million ahead of its closest rival. Last week they surpassed £10 million in interest paid to lenders.

RateSetter co-founder and CEO, Rhydian Lewis, has described 2014 as a breakthrough year for the lender.

“While we have been notching up fiscal milestones throughout the year, our recognition within the Future Fifty has certainly been a great end to the year, acknowledging our role within the fintech revolution,” he said.

“We owe a debt of gratitude to our customers, without whom we could not celebrate such a triumphant year. We know you don’t achieve, let alone maintain, a number 1 position without continually enhancing the experience our customers receive.”

RateSetter’s impressive year also included a debut on the New York Stock Exchange, a first partnership with a mobile provider and becoming the first retail P2P platform to trade in Australia.