Stockport-based peer to peer (P2P) lending platform CapitalStackers has been awarded full authorisation from the Financial Conduct Authority (FCA) following a detailed assessment.
CapitalStackers, The firm is a direct P2P lender, matching developers seeking finance with investors. It aims to plug the funding gap between typical bank debt and a developer’s equity.
Steve Robson, managing director of CapitalStackers, said: “We have always had a strong commitment to compliance, abiding by strict codes of conduct and giving our investors total transparency on every deal.
“Becoming an FCA approved lender is a lengthy and rigorous process and gives investors that extra comfort – it is the icing on the cake. We understand that a number of other P2P lenders withdrew their applications when they realised what was involved, which makes our approval status even more significant.”
In November, the business completed a deal by helping Oakapple Group, a Leeds development company, to raise funds to convert the Balmoral Hotel in Harrogate.
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