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Racefields’ Debt Trading Platform Lists £5.7 Million of Bridging Loans in Two Weeks
Racefields’ debt trading platform RCX has amassed a listings value of over£5.7 million just two weeks after launching.
All of the listings have come from bridging lenders and are valued between £254,000 and £1.7 million. The listings are a mixture of development, residential, commercial and land.
From this point on RCX expects a steady stream of product to hit the platform including more bridging loans, P2P loans and all other types of assignable debt.
The company believes the platform is unique in the growing debt market as it allows professional, sophisticated and HNW investors to purchase debt from professional lenders.
Other debt trading platforms in the market tend to focus on professional traders like merchant banks and other large corporates. RCX attempts to disrupt this market by creating an intuitive platform for individual debt buyers and sellers to trade with one another in a secure and transparent environment.
“We are thrilled with the launch of RCX in the UK. We expect investors to see the benefits of funding professional lenders and therefore will use the platform to source debt securities for their investment portfolio,” says David Gammond, chairman of Racefields.
Using RCX, these investors can select a portfolio of loans across many lenders that better matches their investment criteria. They end up backing the loans they want. That makes a lot more sense than backing all the good or bad loans initiated by a single lender.”
RCX continues to seek investors based in the UK and in China who are keen to use the platform to invest in asset-backed securities in the UK.
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