Following some inaccurate reporting in mainstream media this week end, Peer 2 Peer Finance News runs an article that betrays an understanding of how P2P financial technology businesses and start-ups like Money&Co. actually work.The P2PFN article points out that the inaccurate report focused on "small company accounts filed by Denmark Square Limited – one of the parent companies of Money&Co – which runs the platform in a joint venture with Bramdean Asset Management...[Money&Co. CEO Nicola Horlick] said the platform has been trading at breakeven in the current financial year and said it may make a profit for the year to end March 2019."We are forecasting a substantial profit in the year to March 2020," she said.Horlick added that there are currently 15 people working full-time on Money&Co products either through Denmark Square Limited, Bramdean Asset Management LLP or through the distribution joint venture and there are two part-time."Some mainstream media has betrayed a woeful lack of understanding not just of financial technology, but of the way that start-ups in general actually work," a spokesman for the platform added."It's pointless to speculate as to why there's such a consistent desire in some quarters to dress up good news as bad."
A Process Guide To Innovative Finance ISA InvestmentAll loans on site are eligible to be held in a Money&Co. Innovative Finance IndREAD MORE
Hello. The new year is in, and we welcome 2019 with renewed emphasis on Money&Co.'s just-launched Portfolio Innovative Finance Individual Savings Account, which is managed by Bramdean Asset Management (an FCA-regulated fund management business).This service has already attracted significant volumes of business (in the final quarter of 2018) – and the prospects look excellent, as savers and investors wake up to the advantages of tis offering.Consider, if you will, the alternatives on offer – the figures below are from HMRC's published data for the tax year to April 2108.