 In 2011, Quakle, a UK peer-to-peer lender founded in 2010, closed down with a near 100% default rate after attempting to measure a borrower's creditworthiness according to a group score, similar to the feedback scores on eBay; the model failed to encourage repayment.In 2012, the UK government invested £20 million into British businesses via peer to peer lenders.A second investment of £40 million was announced in 2014.