Marketplace lender RateSetter 'deliberately' made a loss despite boosting revenues to £18.5 million

Peer-to-peer lending platform RateSetter made a pre-tax loss of £4.9 million ($6.4 million) in the year to the end of March, falling into the red after making a £476,000 profit in 2015.

RateSetter blamed the loss on a switch in strategy — from charging fees up front, to charging fees throughout the duration of its loan. This means it makes less money up front but gets a steady stream of income over the lifetime of the loan. This is preferable for businesses as they like to plan ahead and...

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