LendingCrowd is a British financial technology company specialising in providing business loans to small and medium-sized enterprises (SMEs). The company is based in Edinburgh, Scotland and was originally founded as a peer-to-peer lender. Launched in 2014, LendingCrowd created a platform that enabled investors to support small and medium-sized businesses by lending personal capital through small loans, whilst earning a monthly interest payment.
The company fully transitioned its business model in 2022 and now is funded by institutional capital. In 2024, the business announced that it would close the peer-to-peer part of the business.
History
Launched in 2014, LendingCrowd is the trading name of Edinburgh Alternative Finance Ltd. and was founded by CEO Stuart Lunn.[1] Since September 2014, the LendingCrowd platform has delivered more than £500 million in loans for over 3,000 SMEs across Britain [2] In October 2018, LendingCrowd announced the appointment of former Standard Life CEO Sir Sandy Crombie as its chairman.[3]
Innovative Finance ISA
In February 2017 LendingCrowd became one of the first peer-to-peer business lending platforms to provide the Innovative Finance ISA.[4] Only fully FCA authorised platforms are eligible to offer this product giving investors the opportunity to invest in peer-to-peer lending without having to pay tax on the interest earned.[5][6]
Risk and Regulation
Financial Conduct Authority
LendingCrowd is authorised and regulated by the Financial Conduct Authority (FCA). In November 2016 LendingCrowd became one of the first peer-to-peer lenders to move from interim permissions to fully authorised.[7]
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