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Goji adds 25 direct managers to platform

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Goji, the specialist direct lending investment manager and platform, has launched its 25th platform technology client, enabling 25 direct lending investment managers to offer financial products, such as the IF ISA to retail investors.

Five of these managers were added just this month, including Earthworm, Dot Fund, Route Finance, Growth Capital Ventures and Bird Box Bonds and there are at least ten more who are looking to launch using Goji’s technology by the end of the tax year. These new firms are in addition to Goji’s existing client base which include the likes of Downing, Landbay and Assetz Capital.
 
The main advantages of Goji’s platform technology include that it offers fully regulated investment operations and administration, client money, ISA and SIPP management. As an FCA regulated firm, Goji is authorised to conduct all activities associated with running an investment platform, including arranging investments, acting as an AIF manager, holding and controlling client money and managing an IF ISA. This is of huge value to firms who may not want to bear the burden of the administrative, regulatory and technological processes involved in getting a new product to market
 
Jake Wombwell-Povey, CEO and Founder of Goji, says: “The IFISA now sits alongside Cash, Stocks & Shares and Lifetime ISAs to give investors more diversity and choice over what to do with their ISA investments. Bearing in mind how low cash deposit rates are, and that inflation is starting to come back, the IFISA is a much-needed tool to help investors generate real returns from their savings.”
 
In fact, the amount subscribed in cash ISAs has fallen for the third year running. This is indicated in the data from the circa 8000 accounts that Goji administers for a number of platforms. Goji’s figures show that 71.2 per cent of their accounts were transfers from Cash ISAs.
 
Wombwell-Povey says: “It is not just our own data that demonstrates this change in attitude away from Cash ISAs. According to HMRC, the number of new IF ISA accounts from 2017/2018 represents 620 per cent growth from the previous year, and that number will be growing every year. Such rapid growth is surely a sign that the IFISA offers real customer benefit at a time when other more established methods of growing investors’ wealth are suffering their own challenges.”
 
Goji offers modular technology that enables Direct Lending investment managers to offer secure, scalable and efficient financial products to retail investors – either through Goji’s own simple white label interface or through seamless integration with an investors existing platform via API.
 
Julia Groves, Head of Crowdfunding at Downing, says: “We chose to work with Goji rather than doing it ourselves because of their clear expertise in this niche area, the capabilities that their platform technology provides us and the support we get from their team.”
 

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