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The next investment to catch Google's eye?
by Sarah Miloudi on Sep 10, 2013 at 09:30
Xchange Lending is looking to raise up to £200 million to capture the shift in peer to peer lending from the retail to the institutional market.
It is understood that Xchange Lending will be structured as a platform, and if its fund raising is successful it will list during the fourth quarter on the London Stock Exchange.
According to documents seen by Wealth Manager, discretionaries are being approached to back the new venture, which is based on Xchange Lending using a proprietary credit model to select loans with the best risk-return characteristics.
In essence, it will give UK retail investors access to the US peer to peer market - a space where in the last 12 months $1.6 billion (£1.02 billion) in consumer loans have originated via the largest lending platforms, Prosper and LendingClub, which Google acquired the majority of a $125 million stake in during May.
As well as growing in popularity, increasingly the peer to peer lending space has also caught the eye of institutional players, and Xchange Lending will be the
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