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.
Landbay was factored into the Index in mid-February, with ArchOver joining up in the past few days.
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!
