Proof Point
Number of cumulative peer-to-peer loans issued by Lending Club grew 116% annually between 2010 to 2016, reaching 2.02 million with total value of $24.65 billion
Lending Club Cumulative Loans Issued by Volume and Value
2010 – 2017 (million loans and US$ billion)
Proof Point Findings
- LendingClub – Founded in 2007, currently world’s largest peer-to-peer (P2P) lending platform, offering consumer and SME enterprise loans over fixed period of 36 or 60 months
- Increasing Loans Issued – Grew 116% annually from 20,000 in 2010 to 2.02 million in 2016
- Rising Loan Value – Increased 123% annually from $200 million in 2010 to $24.65 billion in 2016
- Key Growth 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 |
Financial Services
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Source |
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Date Last Updated |
March 5, 2018
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