Lendermarket restarts new lending without EU licence
Lendermarket has restarted new lending, despite not yet having received its EU crowdfunding licence.
The Dublin-based peer-to-peer lending marketplace said at the end of November that it was in the final stages of securing a licence under the European Crowdfunding Service Provider Regulation (ECSPR), but until then it would pause listing new loans.
However, in an update on its website last week, Lendermarket said that it has released a “fresh wave of investment opportunities” despite not yet receiving its licence.
“In pursuit of obtaining an ECSPR authorisation…Lendermarket temporarily paused new loan publishing in November 2023 in order to expedite internal processes,” the firm said. “While we remain steadfast in our commitment to becoming an authorised P2P platform, we recognize the importance of maintaining a diversified loan portfolio for our valued investors. This decision reflects our dedication to striking a balance between the strategic movement towards becoming an authorised platform and fulfilling your investment needs today.”
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Lendermarket said that it is listing new loans offering returns of up to 18 per cent and that it will consistently update its offerings, noting that investment demand is high.
“Lendermarket is on an exciting journey to become an authorised P2P platform, offering more benefits to our valued investors,” said Carles Federico, chief executive of Lendermarket.
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“While we work towards this milestone, we are dedicated to meeting our investors’ current needs. I’m thrilled to announce the launch of new loans today, marking a positive step forward. Simultaneously, we’re actively pursuing a ESPR authorisation to ensure that Lendermarket meets the highest industry standards with enthusiasm and commitment.”
The ECSPR was introduced in November 2021 to harmonise P2P lending and crowdfunding across the continent.
All firms had to attain a licence by 10 November 2023.
