Addleshaw Goddard has advised Metro Bank on its investment in unsecured personal lending via the RateSetter platform. 

Metro Bank, which acquired peer-to-peer lending platform RateSetter earlier this year, will fund all new unsecured personal loans originated via the platform on the bank's balance sheet. RateSetter will continue to manage its existing loan portfolio on behalf of current peer-to-peer investors.

The AG team was led by Financial Regulation Partner Rosanna Bryant, Structured Finance partners Rachel Kelly and Zoe Connor and Commercial Services Partner Robert Garwood.

Rosanna said "We are delighted to have assisted Metro Bank on its latest offering of unsecured personal lending to customers. This is an exciting strategic pairing for both Metro Bank and RateSetter enabling Metro Bank to meet more customer needs". Zoe added "Metro Bank's ambitions to grow unsecured personal lending, when coupled with RateSetter's technology platform, makes an exciting proposition. It was a real pleasure to have advised such a talented team on its expansion plans".

Metro Bank's General Counsel Sally-Ann James said: "This was a fantastic opportunity for Metro Bank, with our focus on customers, and Ratesetter’s focus on innovation, to join together and deliver something better for customers. Addleshaw Goddard have supported Metro Bank on a number of key initiatives since I joined in 2012, they bring innovative solutions coupled with sound advice.