‘There’s a general perception that all fintech companies think the banks aren’t fit for purpose, and want to smash them up or replace them outright,’ says Greg Carter, CEO and co-founder at Growth Street. ‘We recognise that the banks will remain a fundamental part of the financial ecosystem for consumers and businesses alike, and we’re invested in building new partnerships with them.’ As alternative finance continues to mature, 2018 was the year the peer-to-peer sector really pushed on as an alternative asset class, with IPO headlines and new regulatory oversight from the FCA forcing HNWs to take note. Carter tells Spear’s that, in 2018, ‘exciting’ milestones were passed at the P2P business finance specialist, including bringing on board 1,900 investors and matching over £200 million of investors’ capital with borrowers. There was also good news on the regulatory front, with Growth Street being fully authorised and regulated by the FCA. ‘We offer competitive rates for investors and businesses alike by cutting out the middle man,’ says Carter. On the investor side, Growth Street has a wide range of clients, from individual retail investors to business owners looking to put surplus company funds to work. In terms of their borrowing customers, they work with growing UK SMEs turning over more than £250k.