A Glimpse Of Asia Versus The Global P2P Lending Landscape, From 2000s To Provide
2017 will be touted given that 12 months of fintech startups in Asia. Although fairly young, the fintech marketplace is undergoing a period of quick development and it is forecasted to get a cross $2.4 Bn by 2020, according to reports by KPMG Asia and NASSCOM. Asia is home to significantly more than 500 fintech startups. Amidst the rising course of electronic wallets, UPI, mPoS, one sector that is gradually and quietly rearing its mind is P2P financing (peer-to-peer financing).
Presently, at a stage that is nascent the P2P financing landscape in Asia can be poised to cultivate into a $4 Bn-$5 Bn industry by 2023. The domain’s beginning really goes back to 2012, whenever very very first lending that is peer-to-peer i-Lend was released. At the moment, the P2P financing space is populated by significantly more than 30 players including Faircent, LendBox, LenDenClub, IndiaMoneyMart, Monexo, Rupaiya Exchange, LoanBaba, CapZest, i2iFunding and many other things.
Alternative financing startups have currently drawn $220.66 Mn in funding between 2015 and 2017, from industry stalwarts such as for example T.V. Mohandas Pai, Fusion Microfinance CEO Devesh Sachdev, Vikas Kapoor, Vikram Lakhotia, Tracxn laboratories, VC company M&S Capital Partners and more. For this, nearly $50 Mn had been guaranteed in H1 2017 by i-Lend (undisclosed), LoanTap ($1.06 Mn), MoneyTap ($12.30 Mn), LoanMeet (undisclosed), ZipLoan ($0.65 Mn), EarlySalary ($4 Mn), Billionloans ($1 Mn) as well as others. This is the reason around 2.5% portion for the general fintech funding of $2 Bn throughout the said duration, according to Inc42 information Labs report. (more…)