By Sam Griffiths on Wednesday 1 October 2014
The Liberum AltFi Volume Index paused for breath this month. With originations totaling £156.8m over the course of September, the industry narrowly missed out on setting a third successive record breaking month. That said, the Index is rarely devoid of standout individual monthly performances – and the month of September was no exception.
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:
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