Sourced Capital reopens IFISA for investment
Sourced Capital’s Innovative Finance ISA (IFISA) is reopen for investment following the peer-to-peer lending platform’s acquisition of Peer Funding and becoming directly authorised (DA) by the Financial Conduct Authority.
Sourced Capital completed the purchase and became a DA P2P platform on 1 February, with commercial director Derek Pratt (pictured), saying that new lending will begin very soon.
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He said that Sourced Capital’s IFISA has reopened for investment and is already receiving huge demand while Peer Funding’s IFISA is no more.
This is because following the acquisition Peer Funding is now trading as Sourced Capital, the subsidiary of Sourced Group which provides asset-backed P2P property development investment opportunities to sophisticated, high-net worth, corporate and institutional investors.
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“Our IFISA gives investors a tax efficient way of investing in good quality property loans, which we know is potentially beneficial to them, especially during times of stock market fluctuations and lower interest rates,” Pratt said.
“We are already seeing a high demand for this product.”
Read more: Sourced Capital boss says Covid has made investors more aware
