The UK Peer to Peer Finance Association (P2PFA) is reporting a record number of both borrowers and investors engaged in the peer to peer lending industry. According to the P2PFA, 150,000+ lenders invested in 321,483 loans during Q2 of 2019.
During the three-month period from April to June 2019, £800 million of new loans were facilitated through P2PFA platforms, as cumulative lending enabled through the Association’s eight platforms topped £11.3 billion.
Robert Pettigrew, Director of the P2PFA, commented on the sector growth:
“The growing number of investors and borrowers in peer-to-peer lending are attracted by the innovative and competitive offer from P2PFA platforms. By embracing high levels of transparency and demonstrating robust business practice, P2PFA platforms have secured demonstrable investor and borrower confidence as the UK peer-to-peer lending market develops further as an attractive, grown-up marketplace for loans which are open and accessible to a wide spectrum of investors and borrowers.”
The P2PFA was established in 2011 as a representative and self-regulatory body for peer-to-peer lending. The P2PFA seeks to inform and educate, promote high standards of business conduct, and work with policy-makers and regulators to ensure an effective regulatory regime. All P2PFA members are required to meet robust standards for the transparent, fair and orderly operation of peer-to-peer lending. The member platforms are: CrowdProperty, Crowdstacker, Folk2Folk, Funding Circle, Landbay, Lending Works, ThinCats and Zopa.
Aggregate levels of peer-to-peer lending by P2PFA platforms between Q2 2018 and Q2 2019:
P2PFA 2019.09.18 - Q2 2019 quarterly data table