Nutmeg, Lendable, and Charles Stanley in investments this week
- Nutmeg has announced that its asset under management have risen above £1bn. Client funds have risen 93% year-on-year, while customer numbers have more than doubled to 48,700 in the last 12 months
- Lendable, a UK start-up that lends to consumers, has raised £300m from Castle Trust. The start-up, which is three years old, offers loans up to £20,000 at interest rates between 4.7% and 40%
- Peer-to-peer lenders are looking to raise hundreds of millions of pounds with the launch of Innovative Finance ISAs, according to the FT. Funding Circle’s chief executive, Samir Desai, told the FT that following customer surveys it was evident that a significant proportion of its customers wanted to put all of the money they invest with the lender through an ISA.
- Charles Stanley has reported a 43.3% increase in profit before tax to £6.9m for the six months to September 2017 but warned of ‘headwinds’ and hinted that full-year market expectations may not be met. Funds under management and administration rose 1.3% to £24.3bn over the period, while core business revenue climbed 9.8% year-on-year to £74m
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