WELENDUS LAUNCHES INDUSTRY-FIRST 15% RETURN ISA PRODUCT

Welendus, the FCA-approved Peer-to-Peer (“P2P”) lender, today announces the launch of an industry-first; it’s HMRC-approved Innovative Finance ISA (“IF-ISA”), which will allow investors to invest their annual ISA allowance in a flexible high return investment product, with no income tax on the interest earnings. This product will be the first ISA product on the market with up to a 15% return.

Welendus is re-defining the short-term credit market by introducing its concept of an all-new P2P short-term lending product. Welendus is on a mission to offer better, ethical, more flexible and affordable short-term loans for borrowers through a clear and easy to use platform. Its aim is to help people in short-term financial need borrow directly from other people at a much cheaper rate with no hidden costs or charges.

For lenders, or investors, seeking higher returns on investments in a period of continued low yield, Welendus offers the opportunity for greater returns with the unique flexibility of the short-term credit market, alongside a provision fund cover which pays the investor back in the event a borrower misses a payment. This combination of features in a single investment product does not currently exist within the P2P landscape, and will be hard to match by existing players. The platform also recently launched its AutoMatch™ feature through which investors are able to choose their own return profile ranging from 5% to 15%, with investors being automatically matched with suitable borrowers that meet their risk appetite.

The UK’s short-term lending market is now worth £3.7 billion per year[1], however new innovative products have been few and far between, leaving great opportunity for disruption and innovation. In addition, the UK’s P2P lending market is expected to exceed £10 billion this year, and up to £19 billion by 2020[2]. Welendus’s beta launch just six months ago has capitalised on this growing sector attracting more than 19,000 customers while issuing nearly 1,000 loans, worth more than £250,000.

Welendus also recently launched its third fundraising round on leading European equity crowdfunding platform, Seedrs. The company hit its £850,000 investment target in just two weeks, with more than £944,000 now raised from 385 investors. Funds from the round will support the continued development of the platform and new products and services to ensure Welendus remains the leader in the rapidly evolving sector. Previously, Welendus has raised £315,000 in total via Seedrs, from 354 investors across 26 countries.

Welendus CEO and Co-Founder Nadeem Siam said: “One of the main things we pride ourselves on at Welendus is our ability to allow lenders to earn higher interest, and the borrower to save on their borrowing. This gives both parties extra savings, increasing their purchasing power which is then funneled back into society when spent. Therefore, this is not only better for the lender and borrower, but also for the economy. The new IF-ISA product will further this, particularly for investors, and will hopefully encourage more to join the crusade in protecting vulnerable consumers by giving them help during difficult times.

We are delighted to once again return to Seedrs. We have had a hugely encouraging reception each time we have gone to the crowd, so we look forward to welcoming them all back again and will hopefully bring on some new investors to take us to the next stage of our mission.”

For more information, please visit: www.seedrs.com/welendus6