RateSetter

RateSetter was a peer-to-peer lending platform that connected individuals looking to invest their money with those seeking loans, often at competitive interest rates. Investors could earn returns by lending funds directly to borrowers, while borrowers benefited from potentially lower rates compared to traditional lenders. The platform managed the loan process, including credit checks and repayments. RateSetter aimed to create a more flexible and accessible alternative to banks, fostering increased competition in the lending market. It operated primarily in the UK and was known for its transparency and risk management features before being acquired by Metro Bank in 2020.