Crowdstacker removes investor fees

Crowdstacker has announced it will no longer charge fees on any of its investment products.

Investors on the platform – including those using its Innovative Finance Isa – will no longer have to pay a £15 transfer fee.

The Peer-to-Peer Finance Association member offers investors the opportunity to lend money to business in the UK via its platform.

Karteek Patel, CEO at Crowdstacker, questioned why investors should have to pay to lend their money to businesses.

“We want to support great British businesses which are innovating, creating jobs and supporting the homegrown economy.

“And to do this, we need to encourage everyday people to invest their money by offering good rates of return, simplicity and, now, the ability to do this without paying any fees.

“Despite being a major driving force behind the movement towards greater transparency in financial services, many alternative lenders, including the large well-known brands, still persist in charging investors.”

Karteek said that Crowdstacker was built upon the idea of democratising access to good quality business investment opportunities.

“Which means not only creating a direct relationship between lenders and borrowers, but also removing any and all barriers to entry.

“Fees may seem like a small cost at, for example, around 1%, but unless these are totally removed a platform can’t really claim to be making the investment process as transparent as possible.”

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