RateSetter yesterday raised £13m from Woodford Investment Management and Artemis. The investment formed its eighth fundraising round, and took RateSetter’s total amount raised in equity to £41.5m.
The company operates a peer-to-peer lending platform, matching prospective borrowers up with prospective lenders according to the preferred interest rates and amounts of each. It was founded by Rhydian Lewis in 2009, and raised its first round two years later in 2011 (£1.5m).
RateSetter is backed by at least one business angel alongside Woodford CF Equity Income Fund and Artemis, both of whom invested previously in 2015.
Whilst the amount for this latest fundraising is yet to be confirmed by Beauhurst research, RateSetter claims that it puts the company’s valuation at over £200m.
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