We are the only peer-to-peer lender in the UK that specialises in loans secured against the personal assets of borrowers
FundingSecure is a Peer to Peer pawnbroking platform which allows members, known as "Investors" to fund loans requested by Borrowers using an asset as security. In a global recession where borrowers and businesses cannot secure loans due to banks' lending restrictions, and where investors are hit with low returns, FundingSecure has been setup to connect these two groups of people so they can mutually benefit.
FundingSecure was formed in 2012 and started trading in July 2013. It is a privately owned UK based company (company number: 8120200) with the majority of shares held by the directors. FundingSecure is based in Beaconsfield, Buckinghamshire and currently employs a team of 9.
Since launch, it has issued loans in excess of £60 million and currently has over 2,000 active investors on its books. FundingSecure operates throughout the United Kingdom including Northern Ireland and Scotland.
FundingSecure works with a number of independent valuers, surveyors, auctioneers, lawyers and other professional firms.
FundingSecure is regulated by the Financial Conduct Authority. It is also a member of the UK Crowdfunding Association, Bucks Business First, and the National Pawnbrokers Association. It is a patron of the National Association of Commercial Finance Brokers.
Peer-to-Peer lending has been around for a number of years and there are many variants. Essentially peer-to-peer lending is all about a borrower seeking finance from the general public. Different peer-to-peer platforms specialise in different niches, such as business loans (Funding Circle) or consumer loans (Zopa). Other specialities include renewable energy companies and buy-to-let investments.
Our proposition initially used the principles of pawnbroking as its base: to borrow money using personal assets as security. This is, in fact, how banking started under the Lombards in Italy. By having a flexible supply of money (using the peer-to-peer concept) we believed we could undercut the high street pawnbrokers.
In fact, our proposition proved so popular that we found ourselves dealing in much larger loans than we had envisaged, especially for people with high value assets as there are very few avenues to explore. Most high street pawnbrokers cannot cope with items out of the ordinary. Those who do, cling on to the high interest rates charged for smaller loans.
It was not long before we realised that the most valuable and underutilised asset that people had was property. So we expanded our proposition to include this, but keeping the same 6 month loan term with interest rolled up.
The result, after 3 years, is a thriving business offering superior returns to investors and competitive rates to borrowers.
Originator of the concept, has a background in IT and logistics, and has a keen interest in driving ideas which forces change in the way things work. Aside from focusing on strategy, innovation and technology, Noman is also driven to ensure investors and borrowers receive full benefits of the FundingSecure platform and grow the level of service by surrounding himself with personnel experienced within the required field.
UPDATE: 12/12/16 After some months in preparation, Noman has decided to launch a new venture, separate to FundingSecure, the details of which will be announced at a later date. Noman remains a shareholder with an active interest in FundingSecure but, as he will be focussing all of his energy on the new venture, he will be stepping back from the day-to-day business for the immediate future.
Nigel has over 35 years' experience in business development as a Global Marketing Director with Henkel, the world leader in the adhesive market. He also built up a web-hosting company which was sold a number of years ago.
Nigel was one of FundingSecure’s first investors and liked the product so much he joined the company!
Richard is a Chartered Accountant, having qualified with PWC. He spent 20 years working in various financial management positions with The Coca-Cola Company across the globe.
Richard is also Financial Trustee for the Rufiji Leprosy Trust, a charity that raises funds for leprosy sufferers in Tanzania.
Company Number: 8120200 / Authorised and Regulated by the Financial Conduct Authority