Harmoney Has Facilitated $170 Million in P2P Lending During 1st Year

Harmoney at $170 million introIn a bit over one year (they launched in September of 2014), Harmoney, a peer to peer lending platform based in New Zealand, has funded over £170 million to more than 10,000 Kiwis.  Realised annual returns on all loans on the platform have topped 12%. And how does the peer to peer lending break down?

Harmoney has cooked up a some data points, including an infographic, outlining the platforms success to date.

  • 45% of consumers are using Harmoney for Debt Consolidation
  • 10% is for Home Improvement
  • 9% is for  travel
  • 6% for used Vehicles
  • 32% for everything else

As to Who is doing the lending?

  • Average borrower has 40 investors
  • Length of time to fund a loan averages 12 hours and 30 minutes
  • 2 in 5 investors are women
  • Average age of a lender is 41 years old
  • Interest paid to investors is over $10 million

Investors-info on Harmoney 2015

Other interesting date points include:

  • 22% of investors are retail types. The rest  comes from institutional funds
  • BUT retail is growing as almost 40% of loans were funded by small investors in July
  • A good number of borrowers return to borrower again (about 1 out of 5)
  • The rate of loan default is topping expectations with actual rates beating predicted results

You may view all of the Harmoney data here. On to 2016.

Harmoney at $170 Million

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