Online peer - to - peer lender Lendy has entered administration . The Financial Conduct Authority agreed to the appointment of joint administrators Damian Webb , Mark Wilson and Phillip Sykes . They offered a platform for crowdfunded asset - backed secure loans . Speaking with the Telegraph, Mario Lupori of RateSetter stated it was “Darwinism in action,” as the weak die and the strong survive. It is estimated 22,000 investors have £ 165 m ( $ 209 ##m ) in assets at risk . Google 's collapse sparked speculation about the future 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 Authority agreed to the appointment of joint administrators Damian Webb , Mark Wilson and Phillip Sykes . They offered a platform for crowdfunded asset - backed secure loans . It is estimated 22,000 investors have £ 165 m ( $ 209 ##m ) in assets at risk . Google 's collapse sparked speculation about the future of other P2P lenders , coming ahead of an update from the FCA about rules for crowdfunding and P2P lenders .