London, UK based peer to peer lending platform RateSetter has raised £13m in venture funding led by Woodford Investment Management. RateSetter is a peer-to-peer lending website that allows its users to lend and borrow money directly from each other according to their own interest rates. It cuts the cost of borrowing and enables those who are already in debt to get out of their debts quicker, while at the same time increasing returns for savers.