The Peer-to-Peer Finance Association (P2PFA) has welcomed Crowdstacker, which has joined the Association today.
Crowdstacker is a peer-to-peer lending platform which concentrates on a select few established businesses looking to raise more than £1 million, appealing to businesses seeking to diversify their existing funding strategies. The platform creates loan products that are ethical, fair and transparent, producing a forty-page information brochure for each loan product which outlines the lending proposition and company background as well as the specific macro-economic risks and the loan contract.
Commenting on the announcement, Robert Pettigrew, Director of the P2PFA, said: ‘As one of the first peer-to-peer lending platforms to receive FCA authorisation and launch the Innovative Finance ISA, Crowdstacker has much to contribute to the P2PFA. Across the diversity of business models within the peer-to-peer lending sector, there is a clear appetite for platforms to demonstrate their commitment to the high standards of business practice and principles which membership of the P2PFA requires’.
Crowdstacker’s CEO, Karteek Patel, who will represent the platform on the P2PFA’s Board, added: ‘The P2PFA plays an increasingly important role as our industry expands and develops. Crowdstacker has played a part in some of the industry’s important milestones such as being one of the first platforms to become fully FCA-authorised and one of the first to launch the Innovative Finance ISA. We felt it was important to be an active contributor to conversation that the P2PFA is leading on issues such as regulation, transparency and education, and ultimately help the industry move to become a mainstream funding and investment option’.
Notes to Editors
- The Peer-to-Peer Finance Association (P2PFA) was established in 2011 as a representative and self-regulatory body for debt-based peer-to-peer lending. The P2PFA seeks to inform and educate, promote high standards of business conduct, and work with policy-makers and regulators to ensure an effective regulatory regime. P2PFA members are required to meet robust standards for the transparent, fair and orderly operation of peer-to-peer lending. The member platforms are: Crowdstacker, Folk2Folk, Funding Circle, Landbay, Lending Works, Market Invoice, Thin Cats and Zopa.
- Crowdstacker is an FCA-regulated peer-to-peer lending platform allowing people to become lenders to great British businesses via bonds, loan notes and peer-to-peer loans. Crowdstacker aims to make crowdfunding accessible and rewarding, not least for the companies who benefit from loans, focused on quality and reliability. Applications are only considered from companies who have a compelling proposition and are in solid financial health. The platform’s website can be accessed at: www.crowdstacker.com.
Robert Pettigrew (Director: Peer-to-Peer Finance Association):
e-mail – firstname.lastname@example.org; telephone: 07771-547462