Online peer-to-peer lender Lendy has entered administration. The Financial Conduct Authoprity agreed to the appointment of joint administrators Damian Webb, Mark Wilson and Phillip Sykes. Lendy offered a platform for crowdfunded asset-backed secure loans. A new online lending platform, called Lending Club, is being launched by US investment firm BlackRock. Iain Niblock, CEO of P2P investment aggregator Orca Money, said it was no surprise Lendy's collapse sparked speculation about the viability of other P2P lenders, coming ahead of an update from the FCA about rules for crowdfunding and P2P lenders.
Online peer-to-peer lender Lendy has entered administration. The Financial Conduct Authoprity agreed to the appointment of joint administrators Damian Webb, Mark Wilson and Phillip Sykes. Lendy offered a platform for crowdfunded asset-backed secure loans. A new online lending platform, called Lending Club, is being launched by US investment firm BlackRock. Lendy's collapse sparked speculation about the viability of other P2P lenders, coming ahead of an update from the FCA about rules for crowdfunding and P2P lenders.