The Money Platform Review 2026

What it is

The Money Platform is a British peer-to-peer lending site where private lenders fund short-term loans to UK consumers that the platform itself describes as non-prime and high risk. It is a trading name of Gracombex Ltd, a London company set up in January 2015 that has been lending since 2016. Borrowers pay a representative rate of 497% a year.

How it works

Loans are £300 to £2,000 and run 2 to 24 months. The platform checks and approves borrowers with its own credit scoring, then matches lenders' money to approved loans; automatic lending is available. You do not choose or see individual borrowers. The platform publishes no minimum deposit amount. Money moves by UK bank transfer, processed at 9am and 3pm on working days.

Returns

For loans in its 2025-26 year, lenders earned 15.9% a year after losses and fees, the first actual figure in the yearly statement the UK regulator requires (May 2026). The platform had forecast 16.9%. For 2026-27 it forecasts only 13.0%, which the home page calls a gross return while the statement calls it a return after losses. Older years are shown much higher after later collections, up to 65.7% a year for 2020-21; we cannot reconcile figures that high with a yearly rate on loans of a few months, so read them with care. The platform also says 92% of lenders who have funded more than 50 loans are in profit (undated).

Losses and defaults

Losses are high, as expected for this kind of lending. Of the loans in the 2025-26 year, 22.9% went more than 90 days past the due date (counted by number of loans, May 2026). Of those, 6.1% are loans where no further payment is expected, and 16.8% are on partial payments or a repayment plan, where some money is still expected. Defaults are rising: the same first-year figure was 13.8% for 2020-21, and the platform forecasts 23.3% for 2026-27, with 7.8% not paying at all. Figures are counted by number of loans, not by money lent.

What secures your money

Nothing. The loans are unsecured, and there is no buyback, reserve fund or insurance. When a borrower falls behind, the platform and collection agencies chase the debt, but debt-collection costs and the platform's own fee are paid out of what comes back before your capital. No recovery rate is published; older years show default rates falling a few points as late borrowers pay. In practice, the only protection is spreading your money over many small loans and the high interest borrowers pay.

Who runs it and its licence

Gracombex Ltd (company number 09413521) has been authorised by the UK Financial Conduct Authority since 7 March 2016, firm reference 716455, and may hold client money. It publishes the yearly outcomes statement that the FCA requires of peer-to-peer platforms. The Financial Ombudsman has issued 28 final decisions on complaints against the company, all brought by borrowers, and upheld 16 (57%), mainly over unaffordable lending and errors on credit files. When a complaint is upheld, borrowers can get interest refunded, which is the money lenders earn. No FCA enforcement action was found.

Fees

The terms list no fee for opening an account, paying in or withdrawing. The platform keeps 50% of the interest each borrower pays as its administration fee, and you receive the other 50%; this is set out in the terms of service. Debt-collection costs on late loans are also taken from recoveries.

Getting your money out

Your money comes back only as borrowers repay. There is no market to sell loans, and the terms do not allow you to transfer a loan. Loans are short, so money returns within months, unless the borrower falls behind. Cash you have not lent can be withdrawn on working days.

Our view

Return: Very High — 15.9% a year after losses and fees for the latest year, though the forecast for the current year is lower at 13.0%. Risk: Very High (higher means more risk) — 6.1% of the latest loans are not expected to pay anything more and 22.9% are seriously late; we moved the level one step worse because the loans are unsecured with no safety net, defaults are rising, the older return figures are hard to explain, and the Ombudsman has upheld most borrower complaints. Risk-return: Low — the return is high, but so is the chance of loss.