SocietyOne

Last updated

SocietyOne
Industry Peer-to-peer lending
Founded6 August 2011
FoundersAndy Taylor, Matt Symons, Greg Symons
Headquarters Sydney, Australia
Key people
  • Mark Jones, CEO
Productsunsecured personal loans, secured livestock loans
Number of employees
89 (2018) [1]
Website www.societyone.com.au

SocietyOne is an Australian peer-to-peer lending company. [2]

Contents

History

Based on UK peer-to-peer lending businesses such as Zopa and Ratesetter, SocietyOne was founded in August 2011 by Andy Taylor, Matt Symons, and Greg Symons. [3] In March 2016, Jason Yetton was hired as CEO; he was succeeded in the role by Mark Jones in July 2018. [4] [5]

Finance

In the third quarter of 2017, it was reported that a total of over $350 million had been borrowed on Society One’s platform since 2012. [6] As of June 30, 2018, that number reached $465 million, and the total valuation of the lending book reached $218 million. [5] Despite its growth, Society One is expected to need a $500 million lending book to start breaking even. [7]

References

  1. ↑ SocietyOne (9 August 2018). "It's Our People That Make Us Who We Are: SocietyOne". SocietyOne. Retrieved 16 August 2018.
  2. ↑ "SocietyOne Personal Loans". RateCity.com.au. Retrieved 16 August 2018.
  3. ↑ "Rupert Murdoch, James Packer invest in SocietyOne peer-to-peer start-up". Australian Financial Review. 3 December 2014. Retrieved 1 March 2019.
  4. ↑ Yeates, Clancy (16 August 2016). "SocietyOne chief Jason Yetton says lending jumps tenfold". The Sydney Morning Herald. Retrieved 16 August 2018.
  5. 1 2 "SocietyOne Change Up: Jason Yetton Steps Down As CEO & Managing Director; Mark Jones is Named Interim CEO | Crowdfund Insider". Crowdfund Insider. 9 July 2018. Retrieved 16 August 2018.
  6. ↑ "SocietyOne tops $350m in loans". FinTech Futures. Retrieved 16 August 2018.
  7. ↑ "Why SocietyOne needs more than its billionaire backers". Financial Review. 24 November 2017. Retrieved 16 August 2018.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.