Bringing you live news and features since 2006 

ArchOver granted full FCA authorisation

RELATED TOPICS​

ArchOver, the peer-to-peer (P2P) business lending platform, has secured full authorisation from the Financial Conduct Authority (FCA) to operate as a P2P lending platform.

 
Since launching in September 2014, ArchOver has facilitated over GBP35 million of investment over its platform, operating under interim permissions granted by the FCA.
 
Full authorisation will support ArchOver in attracting new lenders to the platform and allow it to continue working with businesses to make access to funding as easy and simple as possible.
 
“There is great satisfaction in gaining a stamp of approval. Our industry leading policies and procedures will allow us to take alternative forms of lending to the next level,” says Angus Dent, CEO at ArchOver. “At a time when investors are experiencing low interest rates and banks are tightening the purse-strings, P2P lending offers a unique and much needed service. Incorporating the most successful elements of P2P lending into the regulations and strategy of the FCA is critical to raising awareness and protecting the long-term success of the industry.”
 
As a fully authorised P2P lending platform, ArchOver can operate on a level regulatory playing field and focus on expanding its community of investors to achieve its ambition of facilitating GBP500 million of lending within the next five years. With no borrower defaults, late payments or losses in nearly three years of operations, ArchOver delivers an above-industry-average return of 7.24 per cent to investors.
 
Backed by the Hampden Group, ArchOver has developed two asset-based lending services allowing UK SME’s to borrow against Accounts Receivable and/or recurring contracted revenue. Its management and credit team vet borrowers and monitor the performance of businesses and assets every month. ArchOver also partners with Coface, a provider of credit insurance and debt recovery services, to offer additional security.
 
“From the first day of operations, we’ve placed lender security at the heart of our business model to exceed any potential compliance requirements,” says Ian Anderson, chief operating officer at ArchOver, who has been closely involved in the authorisation process with the FCA.
 
“This attitude meant we have not had to change our primary working practices in order to comply with regulation. While we have waited a long time to gain this recognition, we always believed that it was in the best interests of ArchOver, and the sector in general, that the FCA take the necessary time to ensure the process was thorough and fair.”

Latest News

BlackRock’s global ETP flows report for June finds a steady rise with USD128.1 billion added to global ETPs in June,..
Morningstar’s global ETF flows report for the first half of 2024 shows that actively managed ETFs have captured 25 per..
The surge in bitcoin ETF launches and funds flowing into the sector is transforming institutional investment in digital assets but..
LSEG Lipper’s latest research finds that the majority of actively managed funds and ETFs globally were not able to beat..

Related Articles

Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Andrea Busi, Directa SIM
Romain Thomas talks to Andrea Busi (pictured), CEO of Directa SIM, who explains why the online trading platform has just...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by