Some of the hype has died down, but the growth of the marketplace lending sector continues apace.
Marketplace lending platforms in both the UK and Continental Europe surpassed AltFi Data’s projections for funds disbursed in the third quarter. UK volumes came in 11 per cent ahead of the expected total in Q3, driven by higher than expected growth in SME and property lending.
Meanwhile, volumes in Europe were 10 per cent ahead of expectations, with consumer and again property lenders primarily responsible.
With these results, both the UK and European sectors are primed to beat full year expectations – meaning both will have accelerated in terms of year-on-year lending growth. This comes despite the fact that AltFi Data's projections for the fourth quarter remain unchanged.
Factoring in accelerated growth in Q3, the UK marketplace sector is now on track to hit £6bn in lending in 2018, with its European counterpart set to lend a little under €3bn.
AltFi Data (AltFi’s sister company) is an independent analytics firms focused on standardisation and verification in the lending sector. Each year, the firm projects full year volumes for the industry based on an extrapolation of historic quarterly growth rates. It does this to account for seasonal variations to lending activity.
