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Lender's Risk Summary

Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
  1. You could lose the money you invest
    • Many peer-to-peer (P2P) loans are made to borrowers who can't borrow money from traditional lenders such as banks. These borrowers have a higher risk of not paying you back.
    • Advertised rates of return aren't guaranteed. If a borrower doesn't pay you back as agreed, you could earn less money than expected. A higher advertised rate of return means a higher risk of losing your money.
    • These investments can be held in an Innovative Finance ISA (IFISA). An IFISA does not reduce the risk of the investment or protect you from losses, so you can still lose all your money. It only means that any potential gains from your investment will be tax free.
  2. You are unlikely to get your money back quickly
    • Some P2P loans last for several years. You should be prepared to wait for your money to be returned even if the borrower repays on time.
    • Some platforms may give you the opportunity to sell your investment early through a 'secondary market', but there is no guarantee you will be able to find someone willing to buy.
    • Even if your agreement is advertised as affording early access to your money, you will only get your money early if someone else wants to buy your loan(s). If no one wants to buy, it could take longer to get your money back.
  3. Don't put all your eggs in one basket
    • Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
    • A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
  4. The P2P platform could fail
    • If the platform fails, it may be impossible for you to collect money on your loan. It could take years to get your money back, or you may not get it back at all. Even if the platform has plans in place to prevent this, they may not work in a disorderly failure
  5. You are unlikely to be protected if something goes wrong
    • The Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover investments in P2P loans. You may be able to claim if you received regulated advice to invest in P2P, and the adviser has since failed. Try the FSCS investment protection checker here.
    • Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated platform, FOS may be able to consider it. Learn more about FOS protection here.

If you are interested in learning more about how to protect yourself, visit the FCA's website here.

For further information about investment-based crowdfunding, visit the FCA's website here.

Outcomes & Impact Report · 2016–2026

Ten years of lending, built on people and data.

A decade of UK peer-to-peer lending: how our scorecard, platform and community grew together, and where we go next.

The Money Platform · Published October 2026

About this report

The Money Platform is a UK-based peer-to-peer (P2P) lending platform established in 2016, specialising in risk-assessed personal loans.

For the past 10 years, The Money Platform has connected people looking for access to credit with lenders seeking opportunities to lend through our platform. Since issuing our first loan in October 2016, we have grown to almost 200,000 loans issued, while remaining focused on providing a simple, transparent and responsible borrowing experience and building a platform designed to support sustainable lending. During this time, we have continued to develop how we assess borrowers, including through our proprietary scorecard, the TMP Score, while strengthening how we support customers and work with lenders as the market, regulation and customer needs have evolved.

Key figures, as at 30/09/26

359,000+

loan applications approved

£84,000,000+

lent

170,000+

loans funded since inception

800,000+

customer queries solved

Don’t invest unless you’re prepared to lose money. This is a high-risk investment. You may not be able to access your money easily and are unlikely to be protected if something goes wrong. Take 2 mins to learn more

The Money Platform is operated by Gracombex Ltd, authorised and regulated by the Financial Conduct Authority (FRN 716455).

01 · Introduction & CEO perspective

From Concept to Scale

Reflecting on year one to year ten.

George Huntley, Chief Executive Officer of The Money Platform
Every new customer segment, scorecard, or channel is tested against one non-negotiable question: is this genuinely good for the borrower and sustainable for our lenders?George, Chief Executive Officer

The original vision

Ten years ago, credit was broken. Millions of people with thin or imperfect credit files were left with poor options, while savers earned next to nothing. We asked a simple question: what if one could fund the other, fairly and transparently? That idea became The Money Platform: better access to credit for borrowers, and a new asset class for everyday lenders.

Navigating change

A decade in fintech teaches you that terrain shifts fast. We’ve adapted to new regulation, a pandemic and a cost-of-living squeeze, and each time we came out stronger. We rebuilt our decisioning around better data, tightened our lending when it mattered and kept serving customers and improving outcomes throughout.

With thanks

None of this works without the people who backed us first. To our early lenders and investors, who trusted a new idea with their money, to our borrowers, who trusted we would deliver, and our team who have gone the extra mile to make it possible: thank you. Together you built The Money Platform and changed lending for good.

A decade at a glance

  1. 2016Funded our first loan in October 2016, connecting borrowers directly with lenders.
  2. 2017–2020Developed the TMP Score to assess applicants whose circumstances may not be fully reflected in conventional credit scoring.
  3. 2021Brought engineering in-house, so improvements for borrowers and lenders reach the platform faster.
  4. 2022Reached profitability, building a sustainable platform for the customers who rely on it.
  5. 2023Recognised for our commitment to helping borrowers access fair credit as we won the Financial Inclusion Award.
  6. 2024Launched Mid Prime loans to expand borrower choice, secured FCA Client Money Permission to hold lenders’ money, and passed 100k loans issued.
  7. 2025Increased maximum loan sizes and terms to meet more borrowers’ needs, and was shortlisted at the Open Banking Expo Awards 2025 and Fintech Awards London.
  8. 2026Began lending our own money alongside lenders in September 2026, allocated through the same weighted draw. Building the next 10 years around better outcomes for borrowers and lenders.

02 · Risk & credit scoring · Kevin Allen (CRO)

Precision Underwriting

How the TMP Score evolved over a decade of lending data.

How an application is assessed

Illustrative · not to scale
Application dataMulti-bureaux credit search, where applicable · Equifax and TransUnionOpen Banking, where required · income, KYC and vulnerability checksTMP Score · informed by 10 years of lending outcomesLending decision

Deeper, multi-bureaux data

The Money Platform has extended the depth of the data it collects and is now a multi-bureaux lender, drawing credit search information from both Equifax and TransUnion.

Open Banking insight

Open Banking data helps us verify a customer’s income, strengthen KYC checks and avoid lending where an applicant might be financially vulnerable.

Layered decisioning

Multiple scores from both bureaux and our internally developed TMP Score are incorporated into credit acceptance, pricing and exposure decisions.

Driving financial inclusion

Having already refined and deployed scorecards and policies for thin-file applicants, we are now shifting our focus to how we assess non-standard credit files.

432

Credit model refinements since 2022

1.5m+

Payment events

03 · Technology & platform architecture · Chris Myers (CTO)

Built for Speed, Security, and Scale

The tech engine behind every application, allocation and repayment.

The journey of a loan

ApplicationOnline, mobile-firstCredit decisionAffordability and credit historyIdentity and bank checksVerified before payoutAllocation to a lenderWeighted, documented drawPayoutFunds sent to the borrowerRepaymentsReturned to lenders

How a loan moves through the platform: a borrower applies online; a credit decision assesses affordability and credit history; identity and bank details are verified before any money is paid out; the loan is allocated to a lender through a weighted, documented draw; the funds are paid out to the borrower; and repayments are returned to lenders, who can follow each loan in their dashboard.

Until 2021, an agency made small changes to a single application, one project at a time. That year The Money Platform brought engineering in-house under Chris Myers, and today our own team leads increasingly complex change initiatives.

Evolving On The Go

In 2024 we replaced the payment provider that moves lenders’ money without taking the platform offline, and we can now add or change payment providers without rebuilding the platform.

Catching Problems Early

As the stakes rose, we raised the bar: quality, security and compliance checks are built into how we make changes, and external specialists test our defences.

Lenders’ Money Kept Apart

Lenders’ money is held separately from ours and reconciled against the bank. Since September 2026 we lend our own money too, allocated through the same weighted draw as lenders’ funds. Identity is verified before payout.

Behind the platform borrowers and lenders rely on, the engine has been rebuilt piece by piece.

04 · Key performance

By the Numbers

359k+

Loan applications approved

£84m

Transferred to borrowers

6,600

Average customer queries solved per month

1,000s

Borrowers supported by our forbearance policy

17

Employees

38.6%

Average investor return over the last 5 years

Outcomes Summary, 2021 onwards

YearCapital lentLoansInvestor returnNon-payment rateManaged delinquency rateTotal default rate
2021£6.3m15,20065.7%3.5%7.5%11.0%
2022£9.2m20,90027.0%5.2%10.9%16.1%
2023£12.5m27,30039.8%4.4%9.9%14.3%
2024£15.8m31,80044.7%4.1%11.7%15.8%
2025£19.6m36,70015.9%4.9%14.2%19.1%

The figures shown relate to past performance. Past performance is not a reliable indicator of future results.

View the full outcomes statement

05 · Human impact

10 Years, 10 Profiles

Each entry is an example based on real lender and borrower profiles and scenarios we’ve encountered on the platform.

Lenders

01

The Founding Investor

Made their first deposit in 2016 and still investing today.

02

The Passive Compounder

Has used the automated reinvestment functionality to compound returns since 2021.

03

The Portfolio Diversifier

Decided to invest in peer-to-peer as they believe consumer lending is its own asset class.

04

The High-Volume Lender

Has deposited over £250k into the platform.

05

The Hands-On Lender

Reviews their lending activity and outcomes regularly through the lender dashboard.

Borrowers

01

Emergency Financial Bridge

A personal loan covered urgent vehicle or home repairs.

02

Credit Builder

Responsible repayment that supported credit health over time.

03

Seasonal Budgeting Aid

Bridged essential family expenses during tight months.

04

Life Event Support

Partner was forced out of work, so a personal loan eased them through the transition.

05

Home Improvements

DIY renovations were made possible with a personal loan.

05 · Human impact

In Their Words

What our borrowers and lenders tell us about their time with The Money Platform.

Borrowers

I first used The Money Platform a couple of years ago and my experience has been fantastic. Easy, affordable loans at a time when I really needed them helped me substantially.
Ryan from Scarborough
With your help, today and on previous occasions, I have been able to get repairs done in my home. It’s close to winter now and the plastering in my hallway and bedroom really needed doing. I can now buy the paint and finish it before winter sets in.
Arlene from Lincoln
I took out a loan to help cover an unexpected home repair expense. The application process was straightforward, and receiving the funds quickly helped me resolve the issue without added stress.
Mateusz from Coventry

Lenders

I found The Money Platform through a peer-to-peer forum. Of the platforms I started with ten years ago, it’s the only one I’m still with. I don’t spend long in front of a computer, so it has to be something I can leave alone for weeks on end and still have it do its job.
Kevin from North Yorkshire
I have been on this journey since February 2018, and I’ve since been joined by my wife and both of our sons, each with their own account. Are we all happy? You bet we are! Your platform has always played an important role in our investment programme.
Mervyn from Norwich
I do quite a lot of lending secured against property. This is obviously slightly different, more high risk and unsecured, but it’s all part of my diversification of the portfolio.
Gil from London

Comments are shared with each customer’s permission and have been edited for length and clarity. Individual experiences vary and are not a guide to future outcomes.

06 · The next 10 years · George Huntley (CEO)

The Road Ahead

Innovation, resilience and growth.

What we’re building

Ten years in, our focus is on making every decision smarter and every customer experience better. That means building on our multi-bureau and Open Banking foundations to reach creditworthy people that mainstream lenders overlook. It also means we’re looking to offer a wider range of lower-cost products to more customers, and bespoke help to all customers to manage their money better. That’s what ‘Using Data, Lending Better’ will look like in our next phase of growth.

Scaling responsibly

We only scale at a pace that our evidence-led decisioning can support. Every new customer segment, scorecard, or channel is tested against one non-negotiable question: is this genuinely good for the borrower and sustainable for our lenders? This disciplined underwriting philosophy has guided us through our first decade and remains the foundation for the next.

Growing together

On 28th October 2026, we’re hosting a live webinar to look back on a decade of peer-to-peer lending and share what’s next for The Money Platform. You’ll hear from the team, see the numbers behind this report, and have the chance to put your questions to us directly.

Join us live

10-Year Anniversary Webinar & Q&A

28th October 2026 · 6PM · Online
Register your place

Q&A · In brief

Frequently asked questions

How does peer-to-peer lending work at The Money Platform?

At The Money Platform, peer-to-peer lending means lenders fund personal loans to borrowers through our platform, rather than a bank lending its own deposits. Borrowers apply online and are assessed using the TMP Score alongside credit bureau data and, where required, Open Banking data. Approved loans are allocated to lenders through a weighted draw, and borrowers’ repayments are passed back to the lenders who funded them. Since September 2026, The Money Platform also lends its own money, allocated through the same weighted draw.

What is the difference between a thin credit file and a non-standard credit file?

A thin credit file has little or no credit history to assess, which is common for people who are young, new to the UK or have rarely borrowed. A non-standard credit file has history, but it doesn’t fit the patterns traditional scoring is built around. The Money Platform has already refined and deployed scorecards and policies for thin-file applicants, and is now focusing on how it assesses non-standard credit files.

What is the TMP Score, and how is it different from a standard credit score?

The TMP Score is The Money Platform’s own credit model, developed in-house and refined using ten years of lending outcomes on the platform. A standard credit score, such as the one shown in a credit reference agency app, is a general measure built from your credit file and designed to apply across many types of lending. The TMP Score is used alongside relevant credit bureau information and, where required, Open Banking data to support our assessment of creditworthiness and affordability.

How does The Money Platform refine its credit models, and how often are they updated?

The Money Platform refines its credit models continuously. Since 2022, when upgrades to its automated decisioning engine made it possible to track every change, it has recorded 432 credit model refinements. A refinement is a change to how applications are assessed, for example recalibrating a scorecard, adding a data source or adjusting a policy rule. Each one is informed by the outcomes of past loans, drawing on a lending history that goes back to 2016.

What is the difference between non-payment, managed delinquency and default rates in P2P lending?

At The Money Platform, these rates measure different outcomes for loans that are not repaid as agreed. The non-payment rate is the share of loans where no further payment is expected. The managed delinquency rate is the share of loans that, at the time of reporting, have made only partial payments or have entered an alternative payment plan. The total default rate is the sum of the two, counting only loans more than 90 days past the contractual payment due date. This is our internal definition of default for reporting loan performance, and is separate from a default registered on a borrower’s credit file. More information can be found in the outcomes statement.

What is forbearance in peer-to-peer lending, and how does it affect lenders’ returns?

Forbearance is support given to a borrower in financial difficulty, such as reduced payments, a payment break or freezing interest and charges. The Money Platform is committed to treating borrowers in financial difficulty fairly, in line with FCA expectations, and has supported thousands of borrowers through its forbearance policy. For lenders, forbearance usually means repayments arrive later or in smaller amounts, which can reduce or delay returns, although it can also mean more is eventually repaid than if a default had been registered on the borrower’s credit file.

How does The Money Platform offer lower-cost credit to borrowers that mainstream lenders overlook?

The Money Platform aims to offer lower-cost credit by assessing borrowers more precisely than a single credit score allows. Combining data from two credit bureaux, Open Banking income verification and the TMP Score helps identify creditworthy applicants with thin or non-standard credit files, and price loans to the individual. In 2024 The Money Platform launched its lower-APR Mid Prime products. Every new product, segment or channel is tested against one question: is this good for the borrower and sustainable for our lenders?

The Money Platform

The Money Platform is a trading name for Gracombex Ltd (company no. 9413521) and our registered offices are at:

Wework Swan House, 33 Queen Street, London, EC4R 1BR.
Gracombex Ltd is authorised and regulated by the Financial
Conduct Authority (Ref. 716455).
‍
Data Protection Registration Number ZA099774.

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