Ablrate Announces Voluntary Wind Down

Today Ablrate announced it will voluntary wind down operations. Existing loans will continue to be served, but no new loans will be funded. Ablrate, which launched in 2014, had funded 68 million GBP in business loans over the course of the 8 years. Reasons for the decision given by Ablrate are ‘The decision has not been taken lightly so I would like to explain why we are now on this path as it is a combination of the economic outlook, some of the challenges on our loan book, and regulatory trajectory. It is a challenging environment for small businesses. Interest rates are likely to rise putting pressure on incomes and already retail sales are being hit putting pressure on the wider economic outlook. Strikes and resultant potential wage hikes may fuel inflation in the short term and add to the volatility of the economy adding additional risk to lenders and our business.’

Ablrate also states that increasing regulation and restrictions were challenging for the future outlook of business. ‘If the proposed ruling of banning incentives to invest comes to pass, our opinion is that it is likely that Instant Returns would be banned, of which borrowers have paid over £200,000 since it was implemented.

A significant number of the loans is outside the planned payment schedule, that is either delayed, restructered or in collections. Loan originations have been slow lately, with only 13M GBP funded in the past two years.


International P2P Lending Volumes June 2022

The table lists the loan originations of p2p lending marketplaces for last month. Mintos* leads ahead of Peerberry* and Robocash*. The total volume for the reported companies in the table adds up to 275 million Euro. I track the development of p2p lending volumes for many markets. Since I already have most of the data on file, I can publish statistics on the monthly loan originations for selected p2p lending platforms.

Investors living in national markets with no or limited selection of local p2p lending services can check this list of international investing on p2p lending services. Investors can also explore how to make use of current p2p lending cashback offers available. UK investors can compare IFISA rates.

p2p lending statistic june 2022
Table: P2P Lending Volumes in June 2022. Source: own research
Note that volumes have been converted from local currency to Euro for the purpose of comparison. Some figures are estimates/approximations.

Links to the platforms listed in the table: Ablrate*, Archover*, Assetz Capital*, Bondora*, Bulkestate*, Credit.fr*, Crowdproperty*, Debitum Network*, Esketit*, Estateguru*, Finansowo*, Finbee*, Folk2Folk*, Geldvoorelkaar*, Heavyfinance*, Investly*, Iuvo Group*, Kuflink*, Kviku.Finance*, Landlordinvest*, Lendermarket*, Linked Finance*, Mintos*, October*, Peerberry*, Proplend*, Reinvest24*, Robocash*, Soisy*, Swaper*, Twino*, Viainvest*.

Notice to p2p lending services not listed: Continue reading