UK peer-to-peer lending platform Propifi, has unveiled the launch of a new Innovative Finance ISA eligible investment opportunity, which enables retail P2P investors to benefit from targeted quarterly returns.
An easy to use peer-to-peer [P2P] commercial lending platform, Propifi was established in April 2018, with a clear ambition to cater for the growth in the UK bridging finance industry, while satisfying the increasing appetite for P2P property finance. Its initial growth was supported by a successful crowdfunding raise, oversubscribed at 155%.
This is the first investment opportunity launched by Propifi through its P2P platform that is eligible for IFISA investment, enabling individuals to place a minimum investment of £1,000.
Euan McAlphine, Chairman of Propifi and a veteran of the property development industry, explained: “Propifi has been developed by a leading team of experts in property development, finance and technology, to create a unique peer-to-peer lending platform that could quickly dominate the UK market.”
“In being eligible for IFISA investment, Propifi’s targeted interest P2P investment products provides retail investors with a viable opportunity to take advantage of the capped £20,000 tax-free IFISA allowance, whilst enabling them to benefit from healthy, projected returns of up to 8% fixed returns paid quarterly”
(Tax treatment is based on individual circumstances and is subject to change)
Propifi currently offers both high-net-worth and restricted investors with competitive P2P investment opportunities, whilst continuing to accept applications for bridging loans from borrowers between £100,000 to £2.5m.
McAlpine added, “Our IFISA campaign will provide Propifi investors with the opportunity to enter into and support the bridging finance industry and enable us to continue issuing valuable P2P investment opportunities to both restricted and high-net-worth investors across the UK.”