Queen’s Award for Enterprise a “tremendous honour”
Blogs on 26th April 2019
The Queen’s Awards celebrate outstanding achievements by UK businesses. RateSetter has been recognised for its innovative and pioneering approach to investor protection via the Provision Fund.
The Provision Fund protects all RateSetter investors equally by diversifying every investor’s risk across all 250,000 active loans and provides protection against non-performing loans. This means investors are only ever matched to performing loans.
The result is that, to date, every RateSetter investor has received all the interest and capital that they expected. Past performance is not a guarantee for the future, but RateSetter’s eight-year track record speaks for itself.
RateSetter CEO and founder, Rhydian Lewis OBE, said:
“Innovation is in our DNA at RateSetter and goes to the heart of our business.
Previously, savers had to settle for paltry returns while the banks skimmed off the value from investing in loans. RateSetter has changed that equation with savers now sharing the value.
We are proud to have pioneered a new concept in investing including the Provision Fund, which is instrumental in delivering healthy, stable returns and in making lending simple and accessible to everyone. Winning the Queen’s Award in recognition of this innovation is a tremendous honour for all of us at RateSetter.
I would like to thank the 600,000 people who have invested or borrowed through RateSetter because without their adoption of our innovation, this award would not have been possible.”
Now in its 53rd year, the Queen’s Award for Enterprise is the most prestigious business award in the UK. The Award was established in 1965 and celebrates the success of exciting and innovative businesses which are leading the way with products or services, social mobility programmes or sustainable development practices.
RateSetter will celebrate this success during a royal reception for Queen’s Award winners at Buckingham Palace in June.