Assetz Capital attracts £10m of new investment in three weeks
Assetz Capital has seen more than £10m of new investment in peer-to-peer loans following a rise in the interest rate on its 30-Day Access Account.
The platform announced last month that it would be increasing interest rates for investors on its 30-Day Access Account by 0.5% to 4.75% for a limited time.
Investors still have until midday on 11th May to take advantage of the new rate.
“Due to strong borrower demand, we decided to temporarily raise the target rate on our 30-Day Access Account,” said Stuart Law, CEO of Assetz Capital.
“This has gone against the grain in a period where many P2P platforms have been dropping rates.
“It’s been a roaring success as new investment in peer-to-peer loans has flowed into the account.”
Those who invest in the 30-Day Access Account before 11th May will benefit from the increased target rate for up to 90 days.
The account allows lenders to automatically invest in both short- and long-term loans with interest being earned and paid monthly.
The account always retains substantial cash balances in order to facilitate access for investors who want to liquidate their investment after the 30 days’ notice period.
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Source: Assetz Capital attracts £10m of new investment in three weeks – Bridging & Commercial