, which provides a buffer for investors when borrowers miss payments, increasing protection against credit losses.Metro Bank would provide it with welcome relief from current cash flow shortages. The growing risk of loan defaults among borrowers coupled with investor wariness has caused a drop in amounts lent out on the P2P lender's platform, from £786 million in 2019 to £176 million so far this year, hurting revenue.
In addition to the cash injection, the purchase would also bring in Metro Bank as a large investor on the platform, at a time when attracting investor funds is becoming more difficult. This would place RateSetter in a stronger position to ride out the economic storm caused by the pandemic and emerge fully operational.Join other Insider Intelligence clients who receive this Briefing, along with other Fintech forecasts, briefings, charts, and research reports to their inboxes each day.
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