RateSetter Australia is one of the country's leading P2P lenders, introducing the first P2P lending platform in the country for retail investors in 2014; the company has announced a new addition to its Australian board of directors which serves separately from its parent company RateSetter UK; Vaughn Richtor will join the board bringing significant retail banking experience from his role as CEO of ING Direct; Richtor will help advise the company in key initiatives including improving alternative banking channels and growing market share in personal and business loans. Source
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RateSetter now has over 2,000 broker dealers supporting loan originations on its platform with loans from the intermediaries doubling approximately every six months; top reasons for the borrowing from this channel include vehicle loans, home improvement and debt consolidation; firm has also lent $150 million since its launch in 2014. Source