Ashurst has advised peer-to-peer lending platform operator, RateSetter, on an arrangement with the Clean Energy Finance Corporation (CEFC) who will invest A$20 million to fund "green loans".

The green loans will fund households and businesses wanting to buy clean energy products and represents a unique partnership between a government authority and a leading fintech lending platform.

Lead partner on the deal Lisa Simmons (Corporate) said: "Peer-to-peer lending is still a relatively new concept in Australia with most providers having commenced their operations in the last 5 years.  For it to be a long-term success, there needs to be a market established, both for lenders (or funders) and borrowers. That in turn requires liquidity.  The unique thing about this transaction is that through RateSetter, CEFC is helping to establish a new funding market, for loans which have a "green" objective.  Retail lenders can fund green loans alongside the CEFC, helping to build a loan market for loans with this purpose."

Lisa was assisted by senior associate Jared Lynch (Corporate); counsel Paul Glover (Tax); and partner Barbara Phair and senior associate Elke Bremner (Stamp Duty).