LENDING among Peer-to-Peer Finance Association (P2PFA) members is nearing £10bn – but which P2P lending platforms are growing fastest?
There are plenty of ways to measure growth, from loanbook size, to the number of investors and borrowers.
Business P2P lender Funding Circle remains the largest platform by loanbook, hitting £4.6bn at the end of 2018, but the largest growth came from property platform Landbay, with the value of its loans up 180 per cent annually to £231m.
ThinCats registered the slowest growth, at 15.1 per cent over the year to £309m
A loanbook is only one measure of growth though, and platforms can’t do much without their users.
The P2PFA data shows members saw an 9.1 per cent increase in investors, to 151,207, led by a 431 per cent boost at Funding Circle to 79,347 users, which is the highest amount of investors among the platforms and just ahead of Zopa’s 56,945.
Lending Works saw the second largest annual growth rate at 69.8 per cent to 5,310.
However, Zopa actually registered a decline in users, down three per cent over the year to 56,945.
All members saw the number of borrowers increase, up 10.9 per cent across the board to 288,829.
Most of these were using Zopa, which had 226,833 borrowers with a loan at the end of the fourth quarter of 2018.
However, Landbay has seen the number of borrowers grow by the most, up 86.9 per cent annually to 716.
Funding Circle had the slowest growth in borrowers, up just two per cent annually to 45,692.