Assetz Capital, one of the UK’s largest Peer-to-Peer platforms, just announced it has launched its Innovative Finance ISA (IFISA). IFISA is available as a wrapper on all automated investment accounts, with the Manual Lending Account also set to be allowed into the ISA in early 2018.
In a change with convention in the marketplace, this ISA is available to both new and existing investors on the Assetz Capital platform, with more than 10,000 investors already having registered interest in the ISA ahead of its launch. Investors are able to use their £20,000 annual tax-free allowance on the Assetz Capital platform. They will also be able to transfer in past years’ ISA savings from their cash and shares ISAs.
As well as receiving full authorisation from the Financial Conduct Authority (FCA), Assetz Capital’s automated accounts now hold around £150million of investor money, and since launch, with a further £50m invested in manually selected loans and lenders have now earned over £32million in gross interest on the platform.
Stuart Law
Stuart Law, CEO and founder of Assetz Capital, commented:
This has been a transformational year and we are ending on a high with a refreshed brand and website, new headquarters in Manchester and the launch of our ISA. This is the result of the fantastic work by our dedicated team and the huge support by our investors to help take peer-to-peer lending to the next level.