• Peer to peer lender (individual and SME lending to SMEs)

• Loans 1-3 years tenor

• High quality standard for credit underwriting

• 'Auction' process for loan part offers

• Sale of loan parts in secondary market

• Set up to meet regulatory standards

Opportunity investment thesis

• Big banks in UK not lending to SMEs under capital rebuilding pressure

•  Increasing evidence of scale ability of individuals to decide own actions in financial services on the web

• Price advantage for lenders vs. deposit rates; savings by borrowers vs. bank fees and spreads