FundingSecure was a UK-based peer-to-peer (P2P) lending platform that specialized in asset-based loans, often described as a "peer-to-peer pawnbroker".
: On October 23, 2019, FundingSecure Ltd was placed into administration .
: Approximately 3,500 investors were left with outstanding loans totaling roughly £80 million. fundingsecure.com/pawnbroker
: CG Recovery Ltd was appointed to manage the wind-down of the company.
: Loans were secured against high-value personal assets such as jewelry, art, classic cars, boats, and property. : CG Recovery Ltd was appointed to manage
: Factors included a high number of borrower defaults and costly ongoing litigation, such as a major fraud lawsuit involving millions in missing art collateral. Guidance for Investors and Borrowers
: Because the focus was on the asset's value rather than credit history, funds could often be released within 24 hours. Current Status: Administration Guidance for Investors and Borrowers : Because the
: Former customers or investors seeking updates should refer to the official administrators' portal or contact their support team at customerservices@fundingsecure.com.