Fund Ourselves (previously Welendus) was founded in 2016 and is an alternative peer-to-peer lender, offering short term loans of up to £1500 repaid over 2 to 4 months and investors can earn returns of 5% to 15% depending on the level of risk that they wish to take on.
Fund Ourselves is one of the fastest-growing lenders in the post-Wonga era, and has helped thousands of customers so far, offering lower interest rates than traditional payday lenders.
One of their USPs is that they offer interest-free extensions for up to 12 months, helping customers to get back on their feet if they are suffering from financial difficulty. In contrast, a lot of high cost lenders would continue to charge default fees and added interest, making the financial position even more difficult for the customer – and Fund Ourselves overcomes this nicely.
For investors, you are able to anonymously in invest in a pool of loans for other individual borrowers. You can invest from as little as £1,000 and earn returns as high as 15% per annum, making it one of the best returns in the p2p space, based on the risk you take on. Whilst losses are not covered by the FSCS, there is a provisional fund in place to reimburse any investors and a customer service team to follow up on any bad debt.