Five V Capital invests $8m in Australia's RateSetter

RateSetter’s parent company was founded in the UK in 2009 and began Australian operations in 2014. It claims to be the first peer-to-peer lending platform open to retail investors in the country. Services focus on sourcing personalized interest rates and streamlining inefficiencies associated with traditional lenders.

“We are very pleased and excited to be part of the RateSetter journey, joining a very strong shareholder base including Carsales, Stratton Finance and RateSetter UK,” MacKenzie said in a statement. “Driven by an excellent management team, a leading technology platform and very compelling value proposition to borrowers and lenders alike, RateSetter is very well placed to take advantage of tectonic shifts in how consumers and small businesses will invest and borrow.”

The fresh capital will be used in part to accelerate an expansion plan. It follows a five-month period that marked a 50% increase in the value of loans facilitated to A$150 million. The company claims that its platform hosts more than 8,000 registered investors, making it 15 times larger than its closest competitor. 

Five V has raised about $150 million across two funds since being founded last year. It focuses on middle-market healthcare, retail, media, consumer, technology and financial services companies across Australasia. Previous investments include foreign film distributor Madman Entertainment, hotel booking start-up SiteMinder and Canva, an online design platform operator that raised a $15 million round last year led by Felicis Ventures and Blackbird Ventures.

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• Topics
• Australasia
• Financials
• Technology
• Early-stage
• Australia
• Financial Services
• TMT