Perkbox & RateSetter

  • Written By: Ben Mitchell
  • Published: Fri, 05 Oct 2018 13:50 GMT


Perkbox is a cloud-based employee perks and engagement platform for businesses of all sizes, becoming the UK's largest cloud-based digital employee engagement platform helping SMEs attract, retain and motivate staff.

Perkbox helps drive culture change by providing a holistic employee engagement platform that promotes financial, emotional and physical wellbeing. Prior to Perkbox, SMEs and startups did not have tools that would help fight the battle for talent with large corporates - Perkbox empowers them to attract, retain and motivate talent.

Perkbox has won awards and recognition (including one of the Top 100 Small Companies To Work For by The Sunday Times). Since launch, the team has quintupled headcount, growing from 30 to 150 in just 30 months. Revenues grew 12 times in two years from £1.2m in 2014 to over £14m in 2016. This year the company expects to achieve £30m in revenue, a 250% increase in three years. Tennis champ Andy Murray was among a few high profile names that have invested in Perkbox. The company is set to open an office in Sheffield, creating 100 jobs, and has recently attracted £9m funding from Draper Esprit.

Perkbox: “We conceived the business at a time of economic uncertainty and have circumvented many near fatal obstacles to create a service that genuinely supports all businesses and helps fledgling startups flourish. We're proud of what we have achieved but also incredibly humbled by the support of those who have helped us become what we are today - from the handful of angel investors who first saw promise in our venture to our fantastic employees who make everyday work life a real joy today.”

Smith & Williamson: “Perkbox has demonstrated the benefits of staying agile as a business and has gone from strength to strength following a very insightful pivot and a market leading business development approach. Recent funding valuations prove that they are in demand from their customers, as well as the funding community.”


RateSetter is a British peer-to-peer lending company based in Bishopsgate, London. The company is known for having introduced the concept of a ‘Provision Fund’ into peer-to-peer lending, which links lenders directly with borrowers, allowing lenders to get a good return while delivering a fairer deal for borrowers.

Launched in October 2010, the company has matched more than £1.9bn in peer-to-peer loans and has over 400,000 investors and borrowers, paying more than £1.2bn of capital, plus £70m in interest to its investors. RateSetter has also launched in Australia, becoming the second largest P2P lending platform in Australia and the only one with a licence to accept retail investment.

RateSetter: “Last year, we were delighted to be a finalist in this category. Since then, we have continued to grow and expand as a business. Thanks to our Provision Fund, nobody has ever lost a penny lending through RateSetter - a unique claim that no other major platform can make.”

Smith & Williamson: “RateSetter are leading the way when it comes to the quickly evolving peer-to-peer lending industry. Both innovative and consumer-friendly, the business has deservedly seen revenues rise year on year.”

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

Notes to editors
Smith & Williamson is a leading financial and professional services firm providing a comprehensive range of investment management, tax, financial advisory and accountancy services to private clients and their business interests. The firm’s c1,800 people operate from a network of 11 offices: London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton. Smith & Williamson is part of The Tilney Smith & Williamson Group.

Tagged with:

Entrepreneurs, Scale-up

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