User:Bonnyboy1988/DRAFT

Wellesley & Co is a peer-to-peer lender headquartered in London, UK. Wellesley differs from other peer-to-peer lenders in that it uses its own money to fund every loan agreed with its borrowers. Founded in November 2013, Wellesley provides asset-backed loans secured on residential property. Wellesley is named after co-founderGraham Wellesley, who also previously Chief Executive of IFX and Finspreads.

Overview
Wellesley allows individuals to lend money directly to the UK’s small and medium-sized housebuilders, as well as property developers. On 2 April 2014, Wellesley announced that it had made an £8.3m loan, the largest to be made on a peer-to-peer platform at that time. The loan, a bridging loan, is backed by a range of 27 properties in several south London boroughs and Essex. Wellesley & Co is a member of the P2P Finance Association, the first trade association for the peer-to-peer industry, which is now regulated by the Financial Conduct Authority.