Westpac has taken a stake in the peer-to-peer lender SocietyOne, according to a report in the Australian Financial Review. The investment is a through a new Westpac-funded venture capital business, Reinventure Group.The report said Reinventure has put A$5 million into the peer-to-peer start-up. SocietyOne, which was launched in 2012, claims to have 200 loans worth $4 million on its books.SocietyOne is the only peer-to-peer lender operating in Australia. Lending Club in the United States has a US$4 billion portfolio of loans.SocietyOne's business model is to invite investors to build a portfolio of unsecured personal loans, with transactions handled online. Its website posts applications and investors bid for loans.In a speech at a conference in Sydney last month, SocietyOne chief executive Matt Symons said borrowers usually get a better rate than they would from a bank. Investors are happy because they get more of the yield.Reinventure Group's fund managers  work at arm's length from Westpac, although the fund's investment committee includes Westpac executives Brian Hartzer and Jason Yetton.