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London, England, United Kingdom
RateSetter is a provider of a peer-to-peer lending platform. The company offers a way for businesses to borrow money from consumers. It allows people to lend and borrow money directly with each other by setting their own interest rates. It was founded in 2009 and is headquartered in London, United Kingdom. The company seeks to acquire businesses through mergers, acquisitions and investments which would help the firm to expand and consolidate its presence in the industry.
Last updated
In 2020, RateSetter's revenue reached $43.1M. The company previously reported $47.1M in 2019. Since its launch in 2010, RateSetter has shown consistent revenue growth.
RateSetter reached a $1.7M valuation in 2020.
RateSetter has raised $59.9M in total funding across 3 rounds, with its most recent round in 2017.
| Year | Round | Amount | Valuation | % Sold | Source |
|---|---|---|---|---|---|
| 2020 | Funding round | - | $1.7M | - | |
| 2017 | Funding round | $18.1M | - | - | |
| 2015 | Funding round | $27.8M | - | - |
CEO
Rhydian is responsible for leading RateSetter, which was acquired by Metro Bank in 2020. Rhydian founded RateSetter in 2010 to make lending simple and accessible. It became an award-winning peer-to-peer lending platform, attracting over three quarters of a million investors and borrowers and delivering £4 billion of lending and a market-leading consumer finance offering. Metro Bank acquired RateSetter as part of its strategy to deliver profitable growth and meet the needs of more customers as the UK’s best community bank. Prior to RateSetter, Rhydian worked at the investment bank Lazard. Rhydian received an OBE for services to financial services in 2017.
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RateSetter serves 750K customers.
RateSetter employs approximately 196 people as of 2026. It serves 750K customers that rely on its solutions.
RateSetter generates $43.1M in revenue.
RateSetter was founded by Rhydian Lewis.
The CEO of RateSetter is Rhydian Lewis.
RateSetter raised $59.9M across 3 rounds.
RateSetter has 196 employees.
RateSetter is headquartered in London, England, United Kingdom.
All figures on this page are taken directly from interviews or are estimates from public sources and proprietary models. Not financial advice. Read full disclaimer.
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Valuation
$1.7M
2020 Revenue
$43.1M
Customers
750K
Funding
$59.9M
Avg ACV
$57
Team · 2021
196
Founded
2010
| Year | Milestone | Source |
|---|---|---|
| 2020 | RateSetter Hit $43.1m revenue in December 2020 | |
| 2019 | RateSetter Hit $47.1m revenue in December 2019 | |
| 2010 | Launched with $0 revenue |
| 2014 | Funding round | $13.9M | - | - |
| Year | Milestone | Source |
|---|---|---|
| 2021 | Reached 196 employees (April 2021) |
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