Proof Point
Combined loan volume from largest P2P lending companies Lending Club and Prosper Marketplace grew from about 10,300 to more than 900,000 accounts between 2009 and 2016, an annual growth of 89%
Largest Online Peer-to-Peer (P2P) Lending Platforms Loan Volume
2009 – 2016 (thousands)
Proof Point Findings
- Online Peer-to-Peer (P2P) Lending Platform – Online marketplace offering alternative to debt financing provided by traditional financial institutions by directly connecting borrowers with investors, facilitating both business and personal loans
- Significant Loan Volume Growth – Combined loan transactions grew 89% annually between 2009 and 2016, from about 10,300 to more than 900,000 accounts
- Industry Leader – Lending Club remains top online P2P lending platform, processing more than two million successful loans from 2009 to 2016 with total value of $24.65 billion
- 2016 Prosper Marketplace Decline – Total successful loan transactions declined by 42% in 2016 from previous year, which company attributed to reduced investment activity, declining P2P lending industry reputation caused by negative actions and publicity of other market players, and limited use of investor rebates
- Key Adoption Drivers – Include increasing borrower and investor awareness of benefits offered by online P2P lending platforms over traditional institutions (e.g. accessibility, faster processing, and lower interest rates for borrowers; and higher yield, as well as increased control over portfolio for investors), increasing number of market players, and tightening credit markets
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Accelerator |
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Market Disruption |
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Sector |
Cross-sector
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Source |
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Date Last Updated |
April 16, 2017
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