A quick update on the Liberum AltFi Volume Index (LAVI), which has welcomed in a pair of fresh constituents.
Those constituents are property backed P2P platform Landbay and self-styled “insured and secured” lender ArchOver. Landbay has now lent a total of roughly £4.7m since having launched in April 2014, closing its first deal in July. A hefty portion of that total (£3m) has been facilitated since the start of 2015. ArchOver kicked off in June last year, and has now funded a cumulative total of £3.2m.
Breaking into the volume index is becoming increasingly tricky. In order to enter into the LAVI, individual platforms must have transacted a total of at least 0.1% of the cumulative value of the entire index. The tremendous growth of the industry as a whole is making that feat more and more challenging. In June 2014, the UK alternative finance industry was worth approximately £1.6bn. Today it is worth roughly £60m shy of £3.2bn. In other words, the benchmark for entry for both ArchOver and Landbay has approximately doubled between their inception and the present. We know for a fact that this has caused a level of good-humoured frustration among a number of the more nascent P2P lending camps!
The UK's oldest and best-loved conference for fintech and alternative finance insiders returns for its sixth iteration at etc.venues. We'll showcase the best of the UK's digital banking, online lending and digital wealth sectors through a series of uniquely in-depth discussions and presentations. Open Banking will be in full flight, just over a year on from its launch, and will be a central theme at the event.