RateSetter reported that more than 600 loans worth a total of $10 million have now been facilitated through the platform since it was launched in November 2014, with SMSFs providing the funds for 25 per cent of these loans.
The lending platform said it is experiencing increased interest from lenders, with registrations up 50 per cent over the past three months, especially among SMSF investors.
RateSetter chief executive Daniel Foggo said that in just 10 months, the platform has received $220 million in loan enquires and has attracted over 1,500 Australian investors.
“We think with interest rates at record lows, and returns on our platform of up to 10 per cent, RateSetter is an attractive option for everyday investors looking for better yield,” said Mr Foggo.
“We have benefited from being the only P2P platform licensed by ASIC to accept retail investors. Our investment in forging the path with ASIC towards opening up P2P lending to all Australians has paid off.”