In September 2009 I wrote the article P2P Lending Technology – Make or Buy. Since then the situation has developed. Nowadays I would not recommend to start developing p2p lending software inhouse or hiring a contractor to do so. The major reason for this is not the cost aspect but the time to market. Developing from scratch will cost months of coding and testing that can be avoided when buying a solution and continuing from there or contracting a whitelabel provider that will host and develop the solution.

P2P Lending software suppliers

I have a list of several companies offering p2p lending software. Most are running a p2p lending service in their own national market and are looking to license the solution to companies in non-competing foreign markets. A supplier with a running platform offers the advantage that the potential buyer can review how satisfied the users are (e.g. in forums or blogs).

Note that software for p2p lending does not come cheap. You have to expect to spend a five figure price plus costs for localisation (language, process, interfaces) and design. For p2p lending there is no open source software available – unlike for many other things, e.g. webshops. Naturally the development of a p2p lending platform is not something you should outsource to a freelancer like a coding job for a script.

P2P-Banking.com can put you in contact with vendors

I frequently am contacted by founders who are looking for p2p lending software. I am happy to put you in touch with suppliers. To allow me to pre-select matching offers please provide the following information when you contact me:

1) Which national market are you aiming to launch in? Please describe the desired business model and wanted features (e.g. auction, secondary market)
2) How is your company funded (business angels, VC, still seeking funding)? Note that it will be hard to enter into negotiation with a supplier if you have no clear plan on how to obtain funding.
3) When do you plan/aim to launch your p2p lending service?
4) Have you determined a budget for the software&setup?
5) Do you want the supplier to adapt the software to your needs (e.g. localisation, interfaces, special process needs) or would you just like to buy the source code as is? Or do you seek a hosted white-label solution?
6) Please supply your contact data (name, url, email, phone).

I’ll try to reply to emails with contact information on suppliers within 2-3 days.