The marginal slowdown in the rate of growth is mainly due to a quieter month being reported by the P2P business lending sector. The broad range of platforms within this sub-sector of alternative finance means that it has a consistently meaningful impact on the performance of the industry as a whole. The sector's 'challenger' platforms – Wellesley, Lendinvest and Assetz Capital – posted uncharacteristically steady months.
Perhaps this is the delayed effect of an August that saw fewer businesses arranging finance over the holiday period? Or a feature of a more nervous property market? Whatever it was, Funding Circle, the incumbent P2P business lender, bucked the trend, posting a new record month for itself with £27.9m lent – smashing its previous best effort by almost 25%!
RateSetter capped off a big month that included a website and brand refresh as well as four triumphs at the AltFi Awards by posting a new monthly record for UK P2P lending. In doing so, the platform shattered its own record – which was set last month – by a whopping £5.9m. With £32.8m lent throughout September, RateSetter grew 21.9% on last month and has now posted new record volumes for each of the last 5 months – a highly impressive feat. The Platform also passed the £200m mark on year to date loan originations, the most of any UK P2P Platform.
Other notable individual performances this month include:
continues its growth with £22m of invoices financed this month, making it the third largest UK platform by monthly volume. This happening in a month that saw them overhaul their branding and website and leave the Quarter Billion Pound mark in the rear view mirror.
, the South West based P2P property lending Platform, set a new platform record with £3.7m loaned, over £1m more than its previous best month. The platform also
announced major expansion plans
to roll out its unique branch network into more towns in the South West. It wouldn’t be a surprise to see this innovative platform top its £3.7m record before long.
, the property and asset backed loan specialist, topped their previous record month in style, lending £3.3m in September – almost a third of cumulative life to date volume. That’s a huge achievement and an indication that things are really ramping up at Saving Stream.
Keep on top of all these statistics and more using our interactive data table and graphing facilities.
