More than £100m has now been invested through Assetz Capital’s Innovative Finance ISA (IFISA), making up 23% of all invested funds on the Assetz platform.
Over 5,000 Assetz Capital IFISAs have been opened since it launched in 2017, with an average of more than £19,000 held in each of these accounts – nearly three times the average of £6,409 that is held across all ISA types according to the latest HMRC statistics available for the whole market.
The achievements follow a successful 2019 for the company, which saw the marketplace lender hit the milestone of £100m in total gross interest earned by investors.
Stuart Law, CEO at Assetz Capital, said: “That nearly a quarter of all our invested funds are coming through our IFISA is a testimony to its incredible success as a source of leading rates of tax-free investment returns for our investors, especially when measured against an inflation rate that can make it difficult for people to access significant returns on their cash.
“Achieving this milestone hot on the heels of our investors earning £100m in total gross interest across our near seven-year track record, demonstrates how our IFISA and Access Accounts have enabled our customers to create investment strategies that work for them, often while earning fairer returns on their funds.
“These achievements represent significant milestones in our journey as we approach £1bn lent to UK businesses, and it is our retail investors that have driven this growth so far. As we continue to build the largest marketplace with the most liquidity, where retail investors, businesses with excess cash and institutional funds and banks alike can invest alongside each other, retail investors will remain a priority as we develop our IFISA and Access Accounts.”