The table lists the loan originations of p2p lending marketplaces in February. For many companies it has been a slow month. Funding Circle continues to lead ahead of Zopa and Ratesetter. The total volume for the reported marketplaces adds up to 408 million Euro. I track the development of p2p lending volumes for many countries. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending platforms. This month I added Klear, Viainvest and Bitbond.
Milestones reached this month are:
Funding Circle reaches 2 billion GBP in originations since launch
Fellow Finance crosses 100 million EUR since inception
Geldvoorelkaar hits 100 million EUR since inception
Table: P2P Lending Volumes in February 2017. Source: own research Note that volumes have been converted from local currency to Euro for the purpose of comparison. Some figures are estimates/approximations. *Prosper and Lending Club no longer publish origination data for the most recent month.
Since my p2p lending investments are heavily concentrated on UK and Baltic services, one of my New Year’s resolution for 2017 was to diversify into other markets. Therefore in January I opened an account at French p2p lending service Lendix. Lendix is a p2p lending marketplace offering loans to SMEs in France and Spain (read earlier articles on Lendix). It is one of the larger players in continental Europe. Signing up was straightforward. While the minimum bid on loans is just 20 EUR, the minimum amount for deposits and withdrawals is 100 EUR. Investors can deposit either via bank transfer or via credit card (limited amount). Depositing via credit card is a nice feature which is rarely offered by p2p lending services. I like it because I can react within a minute to new loan announcement emails. This is necessary too, as many new loans are fully funded within an hour – and there is no autoinvest. Nearly all actions require two factor authorisation by a code sent to my mobile.
Lendix loans carry interest rates from 4 to 9.9% and are for loan terms between 3 and 84 months. There is no fee for investors and no withholding tax for foreign residents. Each loan is assigned a rating score of A, B or C by Lendix. There is also a detailed loan description for each loan. While most of the site is available in English language, loan descriptions and contracts are in French language only.
So far Lendix has done a very good job in vetting borrower applications. The default rate to date is low – only 0.11%. However the marketplace is young and growing and I expect the default rate to rise with time. Also it remains to be seen, if the perfomance of the Spanish loan will be comparable to the French loans.
As there is no secondary market, investors are bound hold the loan to maturity.
Review of my Lendix portfolio
I only just started in January. I concentrated on A and B grade loans, putting 100 EUR in most of them and 20 EUR in those that seemed not as convincing to me (e.g. a loan to a hotel that, when I looked it up on a hotel booking comparision site, had less satisfied customer reviews than the four other competing hotels in the same village). I skipped the new spanish loans.
Right now I have invested 640 EUR in 8 Lendix loans. I would have invested more, but I found the dealflow to be rather sparse in January and February. My average interest rate is 5.9%. This month I received my first repayment rate. Experiences of more seasoned investors report that repayments are usually on-time.
New investors get 20 EUR cashback bonus from Lendix when signing up via this link, once they have invested at least 500 EUR.
Screenshot of my Lendix loan portfolio – click for larger view
The following table lists the loan originations of p2p lending marketplaces in January. Funding Circle leads ahead of Zopa and Ratesetter. The total volume for the reported marketplaces adds up to 476 million Euro. I track the development of p2p lending volumes for many countries. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending platforms.
Zopa celebrated passing 2 billion pounds in loans lent since launch. That figure means 300,000 loans to 246,000 borrowers funded by around 75,000 lenders. Jaidev Janardana, Zopa’s CEO, commented: “We’re excited to be the first UK peer-to-peer lender to pass the 2 billion GBP milestone. Over the last 12 years, we’re proud to say we’ve helped a third of a million people get better interest rates for both borrowing and lending. The 2 billion GBP milestone demonstrates how far we have come, but our journey is only just getting started. Our decision to launch a next generation bank reflects our mission to create better options for consumers and to shape the future of finance.â€
Further milestones reached this month were:
Harmoney passes 500 million NZD since inception
Assetz Capital passes 200 million GBP since inception
Table: P2P Lending Volumes in January 2017. Source: own research Note that volumes have been converted from local currency to Euro for the sake of comparison. Some figures are estimates/approximations. *Prosper and Lending Club no longer publish origination data for the most recent month.
The following table lists the loan originations of p2p lending marketplaces in December. Funding Circle leads ahead of Ratesetter and Zopa. Lendix reports an all time record month. Saving Stream and Assetz Capital had a good month, too. Mintos crossed the milestone of 100 million EUR originated since inception. The total volume for the reported marketplaces adds up to 414 million Euro. I track the development of p2p lending volumes for many countries. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending platforms.
Table: P2P Lending Volumes in December 2016. Source: own research Note that volumes have been converted from local currency to Euro for the sake of comparison. Some figures are estimates/approximations. *Prosper and Lending Club no longer publish origination data for the most recent month.
The following table lists the loan originations of p2p lending marketplaces in November. This month I added Swaper. Funding Circle had a record month, for the first time crossing 100M GBP in new monthly volume, ahead of Zopa and Ratesetter. The total volume for the reported marketplaces adds up to 438 million Euro. I track the development of p2p lending volumes for many countries. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending platforms.
Table: P2P Lending Volumes in November 2016. Source: own research Note that volumes have been converted from local currency to Euro for the sake of comparison. Some figures are estimates/approximations. *Prosper and Lending Club no longer publish origination data for the most recent month.
The following chart lists the loan originations of p2p lending marketplaces in October. Funding Circle had a record month ahead of Zopa and Ratesetter. Lendinvest has strong results too and Assetz Capital makes a big leap forward. The total volume for the reported marketplaces adds up to 443 million Euro. I track the development of p2p lending volumes for many countries. Since I already have most of the data on file I can publish statistics on the monthly loan originations for selected p2p lending platforms. Thincats crossed the 200M GBP funded this inception milestone.
Table: P2P Lending Volumes in October 2016. Source: own research Note that volumes have been converted from local currency to Euro for the sake of comparison. Some figures are estimates/approximations. *Prosper and Lending Club no longer publish origination data for the most recent month.
