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Disruptive fintech company JustUs granted ISA Manager Status


September 21st 2017 Cheshire/London UK

DISTRUPTIVE peer-to-peer lender JustUs has now been approved as an ISA Manager by Her Majesty's Revenue & Customs (HMRC).

The pioneering fin-tech company, backed by some of the UK's leading entrepreneurs including Sir John Hegarty and Thomas Teichman, is now just weeks away from formally launching its flagship Innovative Finance ISA.

Founder and CEO Lee Birkett said:

"We are really gathering momentum. Ahead of the launch of the ISA in October there has been a really great level of interest with nearly 150 lenders pre-registering to open an account, which is all the more pleasing given we've done no marketing!"

HMRC has approved the ISA Manager status to Emoney Hub Ltd, JustUs' long-established parent company.

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For more information contact
Chris Barry at Influential on 07464 547297 or barry@thisisinfluential.com


Notes to Editors
The Innovative Finance ISA was launched by HM Treasury on April 6 2016 and it enables lenders to earn their interest free of income tax for the first time. Investors will be able to put in up to £20,000 from April 2017.

Disruptive fintech company JustUs passes key regulatory hurdle


September 12th 2017 Cheshire/London UK

DISRUPTIVE peer-to-peer lending platform JustUs is set to revolutionise the personal finance market after passing a major regulatory milestone.

The Cheshire-based business, which launched in 2016, has been granted full authorisation by the Financial Conduct Authority for peer-to-peer lending.

Full authorisation is a pre-requisite to offer the JustUs Innovative Finance ISA (IFISA) and registration forms have been submitted to HMRC with a planned launch of the ISA in October.

Founder and Chief Executive Lee Birkett CEO said:

"I am thrilled we have secured this authorisation. It has been a long process and we understand the need for the FCA to be thorough and rigorous. It means we can now push on and raise significant funds to establish JustUs as a true market leader."

Birkett, who has 27 years experience in financial services, added:

"A number of our larger competitors have been unable to satisfy the regulatory requirements to operate a peer-to-peer lending platform, and have withdrawn from the application process. We wholeheartedly believe in the spirit of peer-to-peer and as a team have all invested a huge amount of the time, money and effort to deliver a unique proposition to UK borrowers and savers."

Birkett and his backers, who include veteran advertising agency boss turned angel investor Sir John Hegarty via his business incubator The Garage, Soho, said that with interest rates at a record low of 0.25%, new products for savers are urgently required.

"The ISA brand is of huge significance to the UK savings and Investment market, currently worth approximately £500bn. The ability to deliver a better return for savers' cash is something that we relish and have been testing since formation in 2013."

Reflecting the company's values of transparency and fairness and inclusivity, JustUs will be inclusive in its reach.

Birkett explains:

"Our lenders can lend to borrowers with great credit histories and also to consumers with a less-than-perfect credit history, but who have friends or family members willing to stand as guarantor."

JustUs plans to launch a number of market-leading products including offering; bridging loan rates from 7% p.a. compared to a market average of 10%; unsecured loans from 10% compared to a credit card average of 18%; guarantor loans of 28% compared to a market average of 42% and buy-to-let mortgages offering up to 3.5% interest payable to lenders and fixed rate borrower interest rates for up to 15 Years from 4.5% fixed.

Sir John Hegarty added:

"Gaining full regulatory approval shows our belief in the business model Lee and his team presented to us was justified. That is why we at The Garage are so pleased to be part of JustUs."

Ends


For more information contact
Chris Barry at Influential on 07464 547297 or barry@thisisinfluential.com


Notes to Editors
The Innovative Finance ISA was launched by HM Treasury on April 6 2016 and it enables lenders to earn their interest free of income tax for the first time. Investors will be able to put in up to £20,000 from April 2017.

Disruptive Peer-to- Peer lending platform JustUs is born

  • Ambitious company to raise £5m
  • Advertising guru Sir John Hegarty and tech investor Thomas Teichman among backers
  • Former Google executive joins as Chief Marketing Officer
  • Financial services entrepreneur and founder hails a "new future" for consumers

June 30th 2016 Cheshire/London UK

JustUs, www.justus.co a financial community, built on transparency, fairness and inclusivity, has launched, looking to raise £5m. The brainchild of financial services entrepreneur Lee Birkett, who is backed by veteran ad agency boss Sir John Hegarty and start-up specialist Thomas Teichman. JustUs intends to positively alter the lending landscape.

JustUs plans to become the provider of the broadest range of Peer-to-Peer consumer loans and secured lending, offering best in class rates, simplicity and inclusivity to an extensive range of borrowers. The crowd and institutional fundraising, will value the business at £25m. The bulk of the proceeds will be used for high profile advertising campaign to drive public awareness and membership of the community. It is expected the business will create up to 130 jobs in the North West over the next three years.

Joining the business is Thomas Adalbert, who has left a role as a Global Principal in fintech at Google to invest in and join JustUs as Chief Marketing Officer. Sir John Hegarty, a founding partner of Saatchi & Saatchi, has also invested in the business and leads the brand team for JustUs, which will devise a multi-million pound advertising campaign for the platform in the coming months.

JustUs is reinforced through its P2P platform being designed specifically with the UK P2P legislation at the core of its offering. JustUs' robust underwriting process ensures that an appropriate risk rating is applied to the potential borrower and where necessary further security is sought from the borrower or an appropriate personal guarantor. Borrowers must be in a position to make the payments on the loan and provide supporting evidence. They must be in full time employment, self-employment or be in receipt of a private pension.

JustUs is the evolution of Birkett's established and FCA-regulated peer-to-peer lending platform eMoneyUnion.com. Around £2m has already been invested in the platform since inception. Birkett, who has 26 years' experience in the financial services sector, and is a passionate advocate for alternative finance, says: "JustUs is for everyone, it's an exciting evolution for the sector, which I believe can only become more relevant as consumers see that despite the worst financial crisis in a generation, banks and bankers' behaviour hasn't really changed.

"I believe we are completely disrupting the status quo with a range of accessible products for borrowers from a comprehensive range of backgrounds and credit history."
"JustUs is democratic, by the people, for the people. Savers are uninspired by their humdrum returns. We can give them access to the higher returns by bringing them together with a broad mix of consumer, guarantor and secured loans.

Thomas Teichman, serial investor and founder of Spark Ventures said: "Secured lending backed by property is a much more secure place for investors combined with a much better return than cash."

"I'm using it myself to raise my yields on a part of my assets. JustUs has a very deep experience base in this area. "

New Chief Marketing Officer Thomas Adalbert added: "Going back to the very beginning of the lending marketplace, people would come together and help others out by lending money to them. I think we lost our way and the whole banking fraternity just got too greedy.

"This, on the other hand is going back to the roots, allowing you to help out other people through lending money. The alternative finance sector is evolving and growing and that is why I have given up my job with Google to invest my time and my money in to JustUs."

JustUs is expecting to deliver a loan book of around £254m by year 4 of the plan - during Beta testing of the site it attracted £130m of borrower applications from a marketing spend of £150,000. The company has received legal advice from Field Fisher in Manchester (led by partner Matt Fleetwood).

Investments of this nature carry risks to your capital and you may lose all of your investment.


For more information contact
Chris Barry at Influential on 07464 547297 or barry@thisisinfluential.com


Notes to Editors
The Innovative Finance ISA was launched by HM Treasury on April 6 2016 and it enables lenders to earn their interest free of income tax for the first time. Investors will be able to put in up to £15,240 in the 2016/17 tax year, and £20,000 from April 2017.