Latest crowdfunder to enter into Administration
Published: 24/10/2019 By Martin ArmstrongPeer to peer lender Funding Secure is the latest crowdfunder to enter Administration following on from Lendy which went into Administration in May. The company had circa 3,500 investors and had lent £175M. The company specialised in funding the purchase and developmental property as well as pawnbroking style loans.
Senior Partner, Martin Armstrong shares his view that investors are taking significantly greater risk than they appreciate and the sector requires greater regulation from the Financial Conduct Authority. Statistics show that £22 billion has been lent since the industry started ten years ago.