: It connected individual investors with borrowers who needed short-term funding.
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: Former customers or investors seeking updates should refer to the official administrators' portal or contact their support team at customerservices@fundingsecure.com.
: The administrators are responsible for recovering funds from outstanding loans and distributing them to creditors according to the Financial Conduct Authority (FCA) guidelines.
FundingSecure was a UK-based peer-to-peer (P2P) lending platform that specialized in asset-based loans, often described as a "peer-to-peer pawnbroker".
: Approximately 3,500 investors were left with outstanding loans totaling roughly £80 million.
: On October 23, 2019, FundingSecure Ltd was placed into administration .
: Because the focus was on the asset's value rather than credit history, funds could often be released within 24 hours. Current Status: Administration