InvestEngine is NOT a P2P lender - with us you are investing in a portfolio of funds called ETFs that track the performance of stock markets, bonds and other assets.
An important difference is protection of your money under the Financial Services Compensation Scheme (FSCS). With InvestEngine, individuals and small businesses may be eligible for compensation from the FSCS. (For FSCS protection, a small business needs to meet two or more of the following conditions: under £10.2m turnover; balance sheet no bigger than £5.1m; 50 or fewer employees. See FSCS for more information.)
This contrasts with P2P lending where your money is NOT protected by the FSCS - whether you are an individual investor or a business.
Also, the ETFs that comprise your InvestEngine account are themselves bought and sold on the stock market. This means that if you want to withdraw some or all of your money, we can sell your ETFs straight away and you will generally have your cash back in three business days. Plus, we don’t charge for withdrawals.
In contrast, with some P2P lenders, it can be difficult getting your money back quickly - you may have to wait many weeks. And there can often be high charges for exiting your P2P investments.