The trend for the peer to peer lending started at the beginning of the 2010’s. The platforms founded at that time are leading the actual market, but over the past 5 years more than 300 platforms were founded all over the globe.
Peer to peer lending revolutionizing the loans market internationally
Peer to peer (P2P) lending has been a revolutionary funding process that has attracted great interest from consumers especially after the banking crisis of 2008. Seeing massive growth over the last few years with the global market expected to be valued at $64 billion in 2015.
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Peer to peer lending leaders loan funds to date:
- US P2P lending markets have doubled since 2010 contributing $12 billion in 2014.
- UK markets grew from €350 million in 2012 to €2.3 billion in 2014.
- Leading P2P lender, Zopa funded about $1.74 billion to date.
- European markets grew from $487 million in 2012 to $3 billion in 2014
- China’s markets were valued at $15.3 billion in 2015.
- Australia’s current market for peer to peer lending is just under $100 million but has a forecasted growth of $10.4 billion by 2020.
The evolution and growth of P2P lending
The P2P lending platform is evolving and becoming a more trusted marketplace for investment and loans and there are predictions that this industry will be worth an astonishing $1 trillion by 2025. P2P lending is evolving at such rapid rate that comparators such as CompareLend.com have to ensure users a fair access to all of the offers available. Bringing together all the top players in P2P lending platforms by providing one online compare tool to enable users determine the best player for your investment or loan.