Reviewing some of the leaders in the P2P lending marketplace, one can discover just how large this platform is and how impressive the statistics surrounding them are. With a particular focus on the USA, the UK and the European market led by France, we review just how lucrative it is with a global forecast of $64 billion for 2015.
US is leading the P2P way
Taking particular notice of a few leaders and starting with the US market, a market that seems to be leading with Lending Club as the largest P2P lending club internationally. Founded in 2006, and with a company value of around $8.5 billion, this is a company that has evolved and truly has set an example with funding of around $11.1 billion in loans (as of June 2015). Prosper appears to be next in line after starting up in 2005. The company boasts around two million members and have funded around $5 billion in loans. Following rather closely is another competitor, Avant, starting up a lot later, in 2012, and boasting no origination fees. To date they have currently funded $1.8 billion to over 350,000 borrowers.
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UK P2P is catching on fast
Focusing now on the UK market it seems that Zopa is the market leader after starting up in 2005 and being nominated in the Money Wise Customer Awards as the ‘Most Trusted Personal Loan Provider’ for the past six years. So far they have around 63,000 investors, and 150,000 borrowers with a funded amount of 117 billion. Founded in 2010, Funding circle have funded around £750 million to about 12,000 businesses, with 44,600 investors to date.
European lending platforms are taking on the P2P marketplace
Taking on the European market are a number of P2P lenders naming only a few with some impressive statistics showing a very promising future for Europe and P2P lending. France’s Prêt d’Union has paid out over €9 million in interest to investors after a funded amount of €228 million. Starting out in 2009, this online company is soaring. Following on is Credit.fr who are relatively new to the market but are showing off an impressive 100% payback success rate with a funding of €482,000 to over 2,210 borrowers so far. Another company to take note of in Europe is Estonia-based Bondora who are known for their high yield returns for the 9,000 plus investors who have signed up with them. They have issued over €45 million in loans to over 100,000 borrowers in three different countries.
CompareLend.com, as an international online comparator have minimised the hassle of finding the right P2P lending platform for your needs. It does appear as though peer to peer lending is the future in financial growth and CompareLend.com is the meeting place.