Metro bank in Talks to Acquire RateSetter

Metro Bank is in talks to acquire one of the largest p2p lenders in the UK in RateSetter; according to AltFi the deal could close as early as next month; Metro Bank confirmed the talks in a statement, “it has entered into a period of exclusivity with RateSetter, but discussions regarding the potential acquisition are at an early stage.”; Sky News said the deal would be a knockdown valuation but no price has been officially set yet; in April RateSetter said all options were on the table and it appears a deal is now in sight; for Metro Bank a deal would be a big boost for their consumer lending business, as described in the announcement, “the acquisition of RateSetter would be to help “accelerate Metro Bank’s stated strategy to grow its unsecured consumer lending book.” Altfi

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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