1st February 2016
The peer-to-peer (P2P) lending industry lent more than £2.2bn in 2015 according to new figures released today from the Peer-to-Peer Finance Association (P2PFA).
Numbers from the trade body show that the sector has now lent £4.4bn in total, doubling in size since the end of 2014.
In the final quarter of 2015, P2PFA members provided just under £650m in new lending.
The figures also show a growth in users of P2P lending. In the past 12 months, the number of lenders increased by more than a fifth, at 22%, to just over 128,000, while borrowers have almost doubled, at 96% to 273,000.
Christine Farnish, chair of the P2PFA, said: “Year-on-year, peer-to-peer lending continues to grow and have a strong impact across all markets. The growth demonstrates that more lenders and borrowers believe our industry to be a real alternative to traditional lenders. This is only enhanced by our members’ approach to transparency and strict business conduct rules.
“2016 is another important year for the industry as we look forward to the April launch of the Innovative Finance ISA.”