FUNDING Circle’s UK loanbook passed £5bn in the first three months of the year, industry data shows.
Figures from the Peer2Peer Finance Association for the first quarter of 2019 shows Funding Circle’s cumulative loanbook hit £5.04bn as of March.
It comes as the self-regulatory body’s eight members – Funding Circle, Zopa, Landbay, Crowdstacker, Folk2Folk, ThinCats, Lending Works and Crowdproperty – lent £866m in the first quarter of 2019.
This took the cumulative lending for the association’s members to more than £10.5bn.
The data shows that Zopa remains the second largest lender, with a loanbook at £4.2bn.
The next closest is ThinCats at £443m, which for the first time includes its institutional-backed loans accounting for £75m.
The P2PFA has also included data for property lending for the first time.
This shows that of the £866m lent in the first quarter of 2019, £447m was for businesses, £82m against property and £307m to individuals.
“During the first three months of 2019, there has been an increase in levels of new lending, as well as in the number of lenders and borrowers across the P2PFA: more than a quarter of a million consumers, nearly fifty thousand businesses and more than eight hundred real estate and development projects have loans financed by more than 150,000 lenders on member platforms,” Robert Pettigrew, director of the P2PFA, said.