A Glimpse Of Asia Versus The Worldwide P2P Lending Landscape, From 2000s To Provide
2017 will be touted because the 12 months of fintech startups in Asia. Although fairly young, the fintech marketplace is undergoing a stage of fast development and it is forecasted to get a cross $2.4 Bn by 2020, according to reports by KPMG Asia and NASSCOM. Asia happens to be house to more than 500 fintech startups. Amidst the increasing 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 lending landscape in Asia can also be poised to develop right into a $4 Bn-$5 Bn industry by 2023. The domain’s beginning really goes back to 2012, as soon as the very very very first lending that is peer-to-peer i-Lend premiered. At the moment, the P2P financing area is populated by a lot more than 30 players including Faircent, LendBox, LenDenClub, IndiaMoneyMart, Monexo, Rupaiya Exchange, LoanBaba, CapZest, i2iFunding and so many more.
Alternative financing startups have currently drawn $220.66 Mn in funding between 2015 and 2017, from industry stalwarts such as for instance T.V. Mohandas Pai, Fusion Microfinance CEO Devesh Sachdev, Vikas Kapoor, Vikram Lakhotia, Tracxn Labs, VC company M&S Capital Partners and more. With this, almost $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. [Read more…]