Lendermarket adds Colombian originator offering 18pc returns

Lendermarket has unveiled consumer lender RapiCredit as a new originator on its platform.

RapiCredit launched in Colombia in 2014, providing loans ranging from COP $200,000 (£40) to COP $1,000,000 to adults who do not have access to traditional banking products.

Its mid-term loans of up to 180 days, listed on the Dublin-based peer-to-peer lending marketplace, will offer returns of up to 18 per cent.

They also offer a buyback guarantee to investors after 60 overdue days.

“RapiCredit, which to date has granted more than two million loans, has recently obtained, from strategic funders, quotas for more than US $15m (£12.25m) to be used as working capital, and has forged alliances with important entities in the country,” Lendermarket said. “It also expects to expand its operations in Central America and the region in the coming years.”

The news comes after a busy few months for Lendermarket. The firm appointed a new chief executive in September, Carles Federico, replacing interim boss Connor Gibney.

And last week, it debuted new account features to improve investors’ access to payments data.

Lendermarket now allows investors to manually reinvest pending payments for the first time, and offers more in-depth insights in the account statement for pending payments, which can be viewed from the account dashboard.

Read more: Lendermarket originator Dineo outlines expansion plans

The new features also include transactional information for each individual loan.