Many investors will be familiar with the concept of an Individual Savings Account (ISA). Until recently, these tax-free accounts came in two distinct flavours; cash or stocks and shares. Savers and investors can squirrel away up to £20,000 in an ISA during the 2018/19, splitting this allowance between cash and investments. Younger investors who qualify for a Lifetime ISA can put up to £4,000 of their £20,000 annual ISA allowance in one of these, getting a government bonus of up to £1,000 on their contribution too. But what about an Innovative Finance ISA, or IFISA? These were introduced in April 2016 as an alternative to the cash ISA, allowing access to peer-to-peer loans as an investment option.