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ArchOver launches Innovative Finance ISA to UK investors


Peer-to-peer (P2P) business lending platform ArchOver has launched an Innovative Finance ISA (IFISA) for UK investors.

ArchOver’s IFISA service offers investors premium credit control and security, proven by ArchOver’s no-loss rate. It allows investors to invest directly in successful businesses, earning tax-free interest of up to 10 per cent pa.
“We are excited to be launching our IFISA, a significant new string to our bow which will help our Lenders to really make the most of the attractive rates we have on offer,” says Ian Anderson, COO of ArchOver. “Our goal is always to work to our lenders’ and borrowers’ needs and provide them with the best service possible. Existing lenders will be able to plug straight into the IFISA without needing to re-register, and new lenders will find the platform simple and easy to use.”
“This launch is an important part of the ArchOver story, as we continue to build an industry-leading investment platform that combines the best security with highly competitive interest rates.” 
The UK government introduced the IFISA in April 2016. It allows investors to earn interest on peer-to-peer investments without having to pay tax on their earnings. According to recent research by ArchOver, the service is proving popular: over half (54 per cent) of UK investors would put their cash into an IFISA if they had the money available, with nearly two thirds (63 per cent) recognising that it would offer a higher return on their savings.
CEO Angus Dent, says: “There’s a strong market out there for the IFISA, and we’re excited to get stuck in. Potential investors do need to be aware that the IFISA doesn’t work like a cash ISA – investment capital is always at risk – so it is essential that you work with a trusted and established partner.
“With our proven history of strong credit analysis and managing loans with extremely low default rates, we’re well placed to help people invest wisely and get the yield that they want on their cash.”
The ArchOver IFISA will be available to both existing and new lenders from 24 May 2018. Users will be able to invest their ISA allowance in all of the projects on the ArchOver platform, earning tax-free interest with a minimum investment of GBP1,000. Investors can choose from a range of security types depending on their needs, including investment models that provide protection measures like credit insurance, dispute resolution, controlled accounts and all-assets charges with Companies House. 
The launch of the ArchOver IFISA comes after a strong twelve months for the company, including the launch of the P2P industry’s first R&D Advance loan for claims greater than GBP100,000. ArchOver is backed by the Hampden Group, and recently celebrated the milestone of GBP65 million total funding facilitated. The new service broadens its lender offering, cementing its position as the leading choice for investor security and control.

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