Almost 40% of alternative lender Growth Street’s investors are millennials
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Alternative lender Growth Street has revealed that 37.4% of its investors are under the age of 35, contradicting public figures who have chastised millennials for not thinking about saving and investment.
Growth Street’s news follows comments made by property mogul Tim Gurner earlier this month. In an interview, Gurner asserted that spending too much on avocados has contributed to lower levels of home ownership among millennial consumers.
Last year, the FT asserted that “20-somethings feel financially doomed so do not save”. But the simple digital interfaces and investing products offered by alternative lenders like Growth Street are aimed at giving younger people more investment flexibility than ever before.
Growth Street CEO Greg Carter commented: “Millennials have traditionally been underserved by conventional investment products. In the past, investment products have targeted older individuals with higher disposable incomes, but Growth Street is turning this convention on its head.
“We’re delighted to see that almost 40% of our investors are under 35. Growth Street’s values are aligned with millennials’ financial philosophy: that investment products should be accessible, fair and simple.”
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.
