E-money Capital Ltd
easyMoney
TypePrivate limited company
IndustryBanking, Financial services
Founded21 August 2001
FounderSir Stelios Haji-Ioannou
HeadquartersLondon, United Kingdom[1]
ServicesRetail banking
SME banking
OwnerAndrew De Candole
Websiteeasymoney.com

E-money Capital Ltd (trading as easyMoney) is a financial intermediary services brand in the United Kingdom established in 2001 as a division of Sir Stelios Haji-Ioannou's easyGroup[2] and since 2018 has been owned by Andrew De Candole.[3][4]

History

On 21 August 2001 the credit card company easyMoney was set up by easyGroup with Accucard (now part of Lloyds Bank), which was expanded on 14 February 2005 with the announcement that unbundled car insurance products provided by Zurich would be sold later in the year as easyMoney Insurance. In April 2006, easyGroup linked with Moneysupermarket.com to provide a financial product comparison website.[5] This coincided with the withdrawal of the easyMoney credit card.

In February 2018, easyMoney was relaunched under new ownership by the property developer Andrew De Candole as a peer-to-peer lending company, as a result of taking over the property lending business Tower Bridging, built by industry professional Jason Ferrando.[6] It started providing savers with an option to earn higher interest than the high street banks by lending their money to property professionals. This followed the UK government's move in April 2016 to allow peer-to-peer lending products to be held in a new tax-free Individual Savings Account (ISA) wrapper called an "Innovative Finance ISA".[7][8][9][10][11][12]

easyMoney decided to stay open to retail investors during the COVID-19 pandemic, which its head of lending, Jason Ferrando, later described as "the best thing".[13] Accordingly, in May 2021, easyMoney began offering 3.67% interest on a minimum investment of £100, whilst it offered 8% interest on a minimum investment of £1 million.[6]

easyMoney revealed in February 2022 that it had lent more than £150 million over four years and had returned £10 million in interest to investors since the platform opened in February 2018.[14] In May 2022, easyMoney confirmed that it had doubled its profits and revenues between 2020 and 2021, the second year in a row it had been in profit.[15]

See also

References

  1. ↑ "E-MONEY CAPITAL LTD overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk.
  2. ↑ "easyMoney - P2P Property loans and investment - Peer to peer lending". NextFin. 2022. Retrieved 2022-06-08.
  3. ↑ "E-MONEY CAPITAL LTD overview - Find and update company information - GOV.UK". Companies House. 2022. Retrieved 2022-06-08.
  4. ↑ Oscar Williams-Grut (24 February 2018). "Sir Stelios Haji-Ioannou Gets Into Fintech With EasyMoney". Business Insider. Retrieved 2022-06-09.
  5. ↑ Gavin Richardson (13 April 2006). "news : easyMoney expands". easy.com. Retrieved 2010-08-17.
  6. 1 2 Omar Faridi (28 May 2021). "UK based Investment Platform easyMoney Is Reportedly Offering 8% and Over on £1M+ Investments". Crowdfund Insider. Retrieved 2022-06-09.
  7. ↑ Rupert Jones (24 February 2018). "Stelios Haji-Ioannou's new 'easyIsa' offers a 4% return". The Guardian. Retrieved 2022-06-09.
  8. ↑ Noor Zainab Hussain (24 February 2018). "Budget airline pioneer Stelios to take on big banks with easyMoney". Reuters. Retrieved 2022-06-09.
  9. ↑ Emily Perryman (24 February 2018). "EasyMoney launches Innovative Finance ISA". Peer2Peer Finance News. Retrieved 2022-06-09.
  10. ↑ "easyMoney launches in UK". easyGroup. 26 February 2018. Retrieved 2022-06-09.
  11. ↑ Calum Parry (26 February 2018). "Is it a bird? Is it a plane? No, it's EasyMoney". FinTech Futures. Retrieved 2022-06-09.
  12. ↑ Anna Jordan (4 April 2018). "easyMoney IFISA: how do its 4% and 7.28% Innovative Finance ISAs compare?". lovemoney.com. Retrieved 2022-03-24.
  13. ↑ Kathryn Gaw (3 February 2022). "EasyMoney: Retail investors were "best thing" during pandemic". Peer2Peer Finance News. Retrieved 2022-06-08.
  14. ↑ "EasyMoney pays back £10m of interest to investors". Peer2Peer Finance News. 10 February 2022. Retrieved 2022-06-08.
  15. ↑ Kathryn Gaw (26 May 2022). "EasyMoney doubles profits and revenues". Peer2Peer Finance News. Retrieved 2022-06-08.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.