SocietyOne is an Australian peer-to-peer lending company.[2]
History
Based on UK peer-to-peer lending businesses such as Zopa and Ratesetter, SocietyOne was founded in August 2011 by Andy Taylor, Matt Symons, and Greg Symons.[3] In March 2016, Jason Yetton was hired as CEO; he was succeeded in the role by Mark Jones in July 2018.[4]
Finance
In the third quarter of 2017, it was reported that a total of over $350 million had been borrowed on Society One’s platform since 2012.[5] As of June 30, 2018, that number reached $465 million, and the total valuation of the lending book reached $218 million.[6] Despite its growth, Society One is expected to need a $500 million lending book to start breaking even.[7]
External links
- Money Saving Expert: Peer-to-peer lending:
References
- SocietyOne. It's Our People That Make Us Who We Are: SocietyOne SocietyOne, 2018-08-09, retrieved 2018-08-16^
- SocietyOne Personal Loans RateCity.com.au, retrieved 2018-08-16^
- Rupert Murdoch, James Packer invest in SocietyOne peer-to-peer start-up Australian Financial Review, 2014-12-03, retrieved 2019-03-01^
- Clancy Yeates. SocietyOne chief Jason Yetton says lending jumps tenfold The Sydney Morning Herald, 2016-08-16, retrieved 2018-08-16^
- SocietyOne tops $350m in loans FinTech Futures, retrieved 2018-08-16^
- SocietyOne Change Up: Jason Yetton Steps Down As CEO & Managing Director; Mark Jones is Named Interim CEO Crowdfund Insider, 2018-07-09, retrieved 2018-08-16^
- Why SocietyOne needs more than its billionaire backers Financial Review, 2017-11-24, retrieved 2018-08-16^