US

International P2P Lending Services – Loan Volumes January 2014

wiseclerk

In January especially Zopa, Ratesetter and Isepankur showed strong growth over the previous month. New addition to the table is the Dutch service Geldvoorelkaar, which launched in Dec. 2010 after 1.5 years of development.  The CEO Martijn van Schelven told P2P-Banking.com, that Geldvoorelkaar was checked and approved by the Dutch Central Bank (DNB). I do monitor development of p2p lending figures for many markets. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending services.

Table: P2P Lending Volumes in January 2014. Source: own research
Note that volumes have been converted from local currency to US$ for the sake of comparison. Some figures are estimates/approximations.

Notice to p2p lending services not listed:
If you want to be included in this chart in future, please email the following figures on the first working day of a month: total loan volume originated since inception, loan volume originated in previous month, number of loans originated in previous month, average nominal interest rate of loans originated in previous month.

International P2P Lending Services – Loan Volumes December 2013

wiseclerk 1 Comment

December was a month with mixed developments. While the US services and selected other services continued to grow, other services – especially the UK ones – had a slow month with decreasing volume. Of course this is influenced by the Christmas holidays. I do monitor development of p2p lending figures for many markets. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending services.

Table: P2P Lending Volumes in December 2013. Source: own research
Note that volumes have been converted from local currency to US$ for the sake of comparison. Some figures are estimates/approximations.

Notice to p2p lending services not listed:
If you want to be included in this chart in future, please email the following figures on the first working day of a month: total loan volume originated since inception, loan volume originated in previous month, number of loans originated in previous month, average nominal interest rate of loans originated in previous month.

This month I added 3 more UK services to the table and removed Squirrl, Continue reading →

P2P Lending Services – Loan Volumes November 2013

wiseclerk 1 Comment

P2P lending volumes grew further in November. Prosper points out that the slight decline was to be expected due to less origination days in this month. Looks like Funding Circle and Ratesetter are catching up on Zopa in Britain. I do monitor development of p2p lending figures for many markets. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending services. Next month I expect to add figures for two more services to the table.

Table: P2P Lending Volumes in November 2013. Source: own research
Note that volumes have been converted from local currency to US$ for the sake of comparison. Some figures are estimates/approximations.

Notice to p2p lending services not listed:
If you want to be included in this chart in future, please email the following figures on the first working day of a month: total loan volume originated since inception, loan volume originated in previous month, number of loans originated in previous month, average nominal interest rate of loans originated in previous month.

Interview with Greg Ryan, CEO of Daric

wiseclerk

Daric will enter the US p2p lending market. I conducted an interview with CEO Greg Ryan in summer. I am publishing it now, as he has notified me that Daric will launch soon.

What is Daric about?

At Daric, our vision is to provide a platform to serve people that have capital and people that need it in an efficient, friendly, and easy to use way. We believe that being a Silicon Valley based internet platform, we can leverage new technologies to increase transparency in the financial system, use algorithms and automation to help both lenders and borrowers make better financial decisions, and increase access to capital for the community as a whole.

What are the three main advantages for lenders?

1. We have placed a great emphasis on the user experience and user interface of our platform (applies to both lenders and borrowers).

2. The ability to monetize hard assets (we will go into greater detail after we have established our cash based system).

3. Providing another platform for p2p lenders to deploy their capital on. By spreading out their capital on several platforms (Daric, Lending Club, Prosper, etc.), we can provide lenders with proper diversification which therefore reduces risk.

What are the three main advantages for borrowers?

1. We have placed a great emphasis on the user experience and user interface of our platform (applies to both lenders and borrowers).

2. We want to expand beyond the debt consolidation model currently used by the industry leaders.

3. Daric provides another source of capital for borrowers that need it. Borrowers greatly benefit by numerous sources of capital.

Which marketing channels will you use to attract lenders and borrowers? Can you share the projected acquisition costs per customer?

Daric intends to acquire both lenders and borrowers through internet based marketing initiatives. However, we feel the most powerful way to acquire users is through word of mouth. If we provide great value and service to both our lenders and borrowers, we hope they will tell their friends about us. There is no marketing tool that is more powerful than a positive referral from someone you know and trust. Continue reading →

P2P Lending Services – Loan Volumes October 2013

wiseclerk

P2P lending volumes grew strongly in October. I do monitor development of p2p lending figures for many markets. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending services.

Table: P2P Lending Volumes in October 2013. Source: own research
Note that volumes have been converted from local currency to US$ for the sake of comparison. Some figures are estimates/approximations.

Notice to p2p lending services not listed:
If you want to be included in this chart in future, please email the following figures on the first working day of a month: total loan volume originated since inception, loan volume originated in previous month, number of loans originated in previous month, average nominal interest rate of loans originated in previous month.

Funding Circle Raises 37M US$ – Will Merge With Endurance Lending Network

wiseclerk

UK p2p lending service Funding Circle which facilitates loans to businesses has raised 37 million US$. Funding Circle, launched in 2010, has raised a total of 58 million US$ venture capital now. The series C funding round was led by new investor Accel Partners, with participation from Ribbit Capital (another new investor) and Union Square Ventures and Index Ventures.

Funding Circle also announced that it will merge with smaller US service Endurance Lending Network. Launched in 2011, the Endurance Lending Network has carved out a niche working with fast food joint franchisees but is not releasing its loan volumes, although they are understood to be considerably lower than Funding Circle’s. Funding Circle says that, combined with its back-end technology platform, Endurance’s established team of around 15 employees with experience of the US market will help it crack America.  The entire Endurance team will stay on at the firm, which will re-brand as Funding Circle as it targets what the Small Business Administration estimates is a $100 billion funding shortfall in the US economy.

In the US, the model will be modified says Samir Desai, CEO of unding Circle: lending will only be open to accredited investors. This is partly because of regulatory issues.

This is a very big step as it is the first merger of large p2p lending service and at the same time the first international merger. Funding Circle will be able to target a huge market.

Source: press release (via Techcrunch, Venturebeat)