by: Grow VC Group
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The UK has one of the most established and promising peer-to-peer lending markets in the whole world. Its incredible growth, which finds no comparison in the rest of Europe, seems almost unstoppable. The UK P2P Finance Association (P2PFA), which includes among its members some of the leading lending marketplaces in the country, has released the data collected among members for Q3 2015, revealing that in all likelihood the £2 billion loans threshold will be hit by the end of 2015.

During the past quarter, new lending among P2PFA members increased 19.7% to £607.3 million from £507.3 million in Q2 2015. Altogether for 2015, £1.58 billion has been lent, making it very likely that the amount will grow up to £2 billion by the end of the year. It is also to take into consideration that this data does not reflect the entire UK online lending market, but just a part. Therefore, it is reasonable to believe that the total amount of p2p lending in the UK will be much higher that the £2 billion of P2PFA members. According to a report of NESTA, UK P2P market was already worth almost £7,5 billion in 2014.

The outstanding growth of the British sector is also the result of effective policies that the government has adopted towards it, for example the ISAs which will enter into effect next April.  As the London City Minister, Harriett Baldwin, has publicly stated at Lendit Europe last week, the British Government has included a “Fintech strategy” in its agenda for the past couple of years, because it is one of its objectives to make London the world Capital of Fintech. And until now, it seems London and the UK have all the requirements to be the best candidate.

Read the whole article on Crowd Valley Blog.

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Grow VC Group The Grow VC Group is the world leading, global pioneer of securities crowd funding, peer to peer marketplaces, new investment models and global business development. Established in 2009, the Group has developed new investment models on six continents and continues to innovate the global market.

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This entry was posted on Monday, November 9th, 2015 at 10:00 am and is filed under Business Updates. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.