By AltFi News on 5th November 2013
The UK AltFi sector has smashed past the £800 million mark for November according to research from AltFi Data. The seven main UK based Alternative Finance platforms (within the P2P lending and invoice funding space) reported total transactions to date of £829,313,382 on November 1st – an 8.5% increase over the month from October 1st 2014.
New player RebuildingSociety posted the biggest increase in transactions with total recorded transactions increasing 22% over the month to £2.708m, followed by Thincats (an increase of 14% over the month) and Market Invoice (up 12%). Of the big three platforms, Ratesetter recorded the fastest growth in total transactions, putting on 11.6% in just one month. If the industry keeps up this pace of growth, total transactions should hit £2.12 billion by the end of October 2-14 – implying over £1.29 billion of possible new business for the next 12 months.
From next month AltFi Data will be recording data for a wider set of industry players, and focusing its analysis on underlying default rates and return estimates – if you have data you’d like to send us please contact email@example.com. All data was taken from platforms own estimates and was true at November 1st 2014.
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