easyMoney
{{short description|UK-based bank and financial services company}}
{{distinguish|Easy Money (disambiguation){{!}}Easy Money}}
{{Use dmy dates|date=January 2024}}
{{Infobox company
| name = E-Money Capital Ltd
| logo =
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| trading_name = easyMoney
| former_name = {{Ubl
| Blue Sky Capital Limited (2003{{endash}}2004)
| Einstein Asset Management (UK) Limited (2004{{endash}}2006)
| Network Einstein (UK) Limited (2006{{endash}}2008)
| G I G Capital Limited (2008{{endash}}2012)
| De Candole Fry Limited (2012{{endash}}2016){{Cite web |date=2003-08-08 |title=E-MONEY CAPITAL LTD overview |url=https://find-and-update.company-information.service.gov.uk/company/04861007 |access-date=2024-01-26 |website=Companies House |language=en}}
}}
| type = Private limited company
| foundation = 21 August 2001
| defunct =
| founder = Sir Stelios Haji-Ioannou
| location = London, England, UK{{Cite web|url=https://find-and-update.company-information.service.gov.uk/company/04861007|title=E-MONEY CAPITAL LTD overview - Find and update company information - GOV.UK|website=find-and-update.company-information.service.gov.uk}}
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| industry = Banking, Financial services
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| area_served =
| services = Retail banking
SME banking
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| owner = Andrew De Candole
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| homepage = {{URL|http://easymoney.com/}}
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}}
E-Money Capital Ltd, trading as easyMoney, is a financial intermediary services brand in the United Kingdom established in 2001 as a division of Sir Stelios Haji-Ioannou's easyGroup{{cite web|url=https://nextfin.uk/equity/platforms/easymoney|title=easyMoney - P2P Property loans and investment - Peer to peer lending|publisher=NextFin|date=2022|access-date=2022-06-08}} and since 2018 has been owned by Andrew De Candole.{{cite web|url=https://find-and-update.company-information.service.gov.uk/company/04861007|title=E-MONEY CAPITAL LTD overview - Find and update company information - GOV.UK|publisher=Companies House|date=2022|access-date=2022-06-08}}{{cite web|url=https://www.businessinsider.com/sir-stelios-haji-ioannou-gets-into-fintech-with-easymoney-2018-2?r=US&IR=T|title=Sir Stelios Haji-Ioannou Gets Into Fintech With EasyMoney|author=Oscar Williams-Grut|publisher=Business Insider|date=24 February 2018|access-date=2022-06-09}}
History
On 21 August 2001 the credit card company easyMoney was set up by easyGroup with Accucard (now part of Lloyds Bank), which was expanded on 14 February 2005 with the announcement that unbundled car insurance products provided by Zurich would be sold later in the year as easyMoney Insurance. In April 2006, easyGroup linked with Moneysupermarket.com to provide a financial product comparison website.{{cite web |author=Gavin Richardson |url=http://www.easy.com/archive/13.04.06EM.html |title=news : easyMoney expands |publisher=easy.com |date=13 April 2006 |access-date=2010-08-17 |archive-date=30 December 2010 |archive-url=https://web.archive.org/web/20101230134501/http://www.easy.com/archive/13.04.06EM.html |url-status=dead }}
In February 2018, easyMoney was relaunched under new ownership by the property developer Andrew De Candole as a peer-to-peer lending company, as a result of taking over the property lending business Tower Bridging, built by industry professional Jason Ferrando.{{cite web|url=https://www.crowdfundinsider.com/2021/05/175952-uk-based-investment-platform-easymoney-is-reportedly-offering-8-and-over-on-1m-investments/|title=UK based Investment Platform easyMoney Is Reportedly Offering 8% and Over on £1M+ Investments|author=Omar Faridi|publisher=Crowdfund Insider|date=28 May 2021|access-date=2022-06-09}} It started providing savers with an option to earn higher interest than the high street banks by lending their money to property professionals. This followed the UK government's move in April 2016 to allow peer-to-peer lending products to be held in a new tax-free Individual Savings Account (ISA) wrapper called an "Innovative finance ISA".{{cite web|url=https://www.theguardian.com/money/2018/feb/24/stelios-easy-isa-investment|title=Stelios Haji-Ioannou's new 'easyIsa' offers a 4% return|author=Rupert Jones|work=The Guardian|date=24 February 2018|access-date=2022-06-09}}{{cite web|url=https://www.reuters.com/article/easymoney-launch/budget-airline-pioneer-stelios-to-take-on-big-banks-with-easymoney-idUSL4N1QD4D7|title=Budget airline pioneer Stelios to take on big banks with easyMoney|author=Noor Zainab Hussain|publisher=Reuters|date=24 February 2018|access-date=2022-06-09}}{{cite web|url=https://www.p2pfinancenews.co.uk/2018/02/24/easymoney-launches-innovative-finance-isa/|title=EasyMoney launches Innovative Finance ISA|author=Emily Perryman|publisher=Peer2Peer Finance News|date=24 February 2018|access-date=2022-06-09}}{{cite web|url=https://easy.com/easymoney-launches-uk/|title=easyMoney launches in UK|publisher=easyGroup|date=26 February 2018|access-date=2022-06-09}}{{cite web|url=https://www.fintechfutures.com/2018/02/is-it-a-bird-is-it-a-plane-no-its-easymoney/|title=Is it a bird? Is it a plane? No, it's EasyMoney|author=Calum Parry|work=FinTech Futures |date=26 February 2018|access-date=2022-06-09}}{{cite news| url=https://www.lovemoney.com/news/71856/easymoney-easyjet-innovative-finance-isa-returns | title=easyMoney IFISA: how do its 4% and 7.28% Innovative Finance ISAs compare?|author=Anna Jordan|publisher=lovemoney.com|date=4 April 2018|access-date=2022-03-24}}
easyMoney decided to stay open to retail investors during the COVID-19 pandemic, which its head of lending, Jason Ferrando, later described as "the best thing".{{cite web|url=https://www.p2pfinancenews.co.uk/2022/02/03/easymoney-retail-investors-were-best-thing-during-pandemic/|title=EasyMoney: Retail investors were "best thing" during pandemic|publisher=Peer2Peer Finance News|author=Kathryn Gaw|date=3 February 2022|access-date=2022-06-08}} Accordingly, in May 2021, easyMoney began offering 3.67% interest on a minimum investment of £100, whilst it offered 8% interest on a minimum investment of £1 million.
easyMoney revealed in February 2022 that it had lent more than £150 million over four years and had returned £10 million in interest to investors since the platform opened in February 2018.{{cite web|url=https://www.p2pfinancenews.co.uk/2022/02/10/easymoney-pays-back-10m-of-interest-to-investors/|title=EasyMoney pays back £10m of interest to investors|publisher=Peer2Peer Finance News|date=10 February 2022|access-date=2022-06-08}} In May 2022, easyMoney confirmed that it had doubled its profits and revenues between 2020 and 2021, the second year in a row it had been in profit.{{cite web|url=https://www.p2pfinancenews.co.uk/2022/05/26/easymoney-doubles-profits-and-earnings/|title=EasyMoney doubles profits and revenues|author=Kathryn Gaw|publisher=Peer2Peer Finance News|date=26 May 2022|access-date=2022-06-08}}
See also
References
{{reflist}}
External links
- {{official website|http://www.easymoney.com/}}
{{EasyGroup}}
{{Commercial and retail banks in the United Kingdom}}
{{DEFAULTSORT:Easygroup}}
Category:Banks established in 2001
Category:British companies established in 2001
Category:2001 establishments in the United Kingdom
Category:Banks of the United Kingdom