Orca Money, an independent data, research, and analysis provider in the UK P2P lending market, announced on Wednesday the peer-to-peer lending industry has surpassed its £10 billion mark.
While sharing details about the new milestone, Orca stated:
“Peer-to-peer lending has reached a significant milestone since Zopa launched the world’s first P2P platform in 2005. Over £10 billion has been cumulatively lent across 23 UK P2P platforms. In the first half of 2017 alone, over £2 billion was invested through P2P; a result of the diverse range of products available on the P2P market, enabling quick and efficient lending. The industry was kick-started by self-directed retail investors and still, in large, is dominated by retail investors taking advantage of the many benefits P2P affords.”
Orca CEO, Iain Niblock, also explained:
“Individual retail investors have benefited from the risk-adjusted returns that P2P offers. By creating efficient lending marketplaces, borrowers gain quick lending decisions and lenders receive fair rates of returns. Everyone wins.”
In celebration of the peer-to-peer lending’s latest achievement, Orca has created an infographic to highlight how the industry has grown and evolved in the past decade.
