Inside the giffgaff/RateSetter Partnership

Inside the Giffgaff/Ratesetter Partnership
Peter Behrens, Co-Founder and Chief Commercial Officer, RateSetter, and Richard Apletree, Chief of Finance, giffgaff
Moderator: Anthony Hilton, Senior Business Columnist Evening Standard and The Independent

Giffgaff, a community-based mobile network offering handsets and data plans, approached p2p lending companies about the possibility of financing customers’ mobile contracts. Ratesetter, then an eight-person start-up, saw the partnership with Giffgaff as an opportunity to tap into Giffgaff’s customer base. Mr. Behrens of RateSetter stated that about 50 percent of loans currently come from the Giffgaff partnership. As a next step, the companies are looking at the personal loan market. Their target customers are young people who seek some return on their savings, which matches the profile of a Giffgaff customer.