beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Aug 1, 2020 16:51:40 GMT
can somebody tell me what this company actually trades as because I can't find it at companies house - I have found the company that manages the provision fund and it was not exactly what I was expecting what were you expecting? Retail Money Market, trading as Ratesetter, owns the provision fund. The next accounts are not due until October and as they only go to March 2020 then the worst of Covid won't be included, not the Australia revaluation. I am curious to know what you expected, though. agree with that
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Aug 3, 2020 6:33:45 GMT
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pip
Posts: 542
Likes: 725
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Post by pip on Aug 3, 2020 6:49:18 GMT
"Metro Bank will use its deposit base to fund all new unsecured personal loans originated via the RateSetter platorm on Metro Bank's balance sheet."
Another retail option coming to an end? It looks as if it's in wind-down mode for existing platform users.
Yep sounds as effectively Ratesetter of old is dead, but hopefully investors should at least get an orderly wind down. Bet the founders are a little annoyed they didn’t float a few years ago, this business was recently worth hundreds of millions.
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Post by shanghaiscouse on Aug 3, 2020 10:09:53 GMT
Shareholders must be glad to get out with the only valuable and IPO-able part of business, I think they also have debts to the company so I presume Metro are taking on the debts too. Orderly wind-down for us. Although lets see what happens because the mixture of moral hazard and COVID and the deal could play havoc with their team and the ability to keep an eye on our ball (excuse mixed metaphors) but boy am I glad the 5 year paid out relatively quickly as I had a lot of money in there
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Post by scepticalinvestor on Aug 3, 2020 10:32:28 GMT
"Metro Bank will use its deposit base to fund all new unsecured personal loans originated via the RateSetter platorm on Metro Bank's balance sheet."
Another retail option coming to an end? It looks as if it's in wind-down mode for existing platform users.
Yep sounds as effectively Ratesetter of old is dead, but hopefully investors should at least get an orderly wind down. Bet the founders are a little annoyed they didn’t float a few years ago, this business was recently worth hundreds of millions.
A "little annoyed" is probably an understatement!
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coogaruk
Hello everyone! Anyone remember me?
Posts: 702
Likes: 463
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Post by coogaruk on Aug 3, 2020 11:09:02 GMT
Yep sounds as effectively Ratesetter of old is dead, but hopefully investors should at least get an orderly wind down. Bet the founders are a little annoyed they didn’t float a few years ago, this business was recently worth hundreds of millions.
A "little annoyed" is probably an understatement! How does one float a worthless piece of shite? I guess we'd have to turn to FC in order to answer that one!
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aju
Member of DD Central
Posts: 3,480
Likes: 917
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Post by aju on Aug 3, 2020 13:52:17 GMT
Shareholders must be glad to get out with the only valuable and IPO-able part of business, I think they also have debts to the company so I presume Metro are taking on the debts too. Orderly wind-down for us. Although lets see what happens because the mixture of moral hazard and COVID and the deal could play havoc with their team and the ability to keep an eye on our ball (excuse mixed metaphors) but boy am I glad the 5 year paid out relatively quickly as I had a lot of money in there Amen to that one, we are both getting nearer the front on the 5Y and we too have more in there than in the 1Y and Access products. Might even reconsider cancelling the other RYI's if the 5Y matures in the next 2/3 weeks and the dust settles moving forward. I wonder just what they will do with the P2P parts in the coming weeks/months (I haven't read the feeds yet!)
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coogaruk
Hello everyone! Anyone remember me?
Posts: 702
Likes: 463
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Post by coogaruk on Aug 3, 2020 14:08:16 GMT
Only RateSetter's shareholders
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voss
Member of DD Central
Posts: 153
Likes: 84
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Post by voss on Aug 4, 2020 8:03:51 GMT
Yes, I remember you, coogaruk. Ahh, the good old days of bidding on FC.
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