The following table lists the loan originations of p2p lending marketplaces in April. Lendinvest leads ahead of Ratesetter and Funding Circle UK. 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.
Last month Younited Credit (formerly PrÃªt d’Union) originated first loans in Italy. Geoffroy Guigou told P2P-Banking.com, Younited Credit had a great start, with 416,500 Euro loans originated.
Table: P2P Lending Volumes in April 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.
â€˜With loans of â‚¬200 million granted in just over 3 years, we have achieved a lending rate of 15 million EUR per month or an average monthly growth rate of 6%. This new fundraising, which was widely oversubscribed, marks a new growth phase for PrÃªt dâ€™Union. It will enable us to commence our European expansion and pursue our growth in France, through numerous hirings, the launch of innovative technology projects, mainly involving Big Data, and ongoing investments in customer experienceâ€, explained Geoffroy Guigou and Charles Egly, PrÃªt dâ€™Union co-CEOs.
PRÃŠT Dâ€™UNION is the first and sole peer-to-peer lending platform accredited by the French Central Bank.
Thanks to an innovative disintermediation model, PRÃŠT Dâ€™UNION enables private individuals and institutional investors to lend money to borrowers directly through a secured bond marketplace, offering above-market returns on savings and low interest rates on consumer loans. Each party gets a better deal, bypassing mainstream financial institutions.
French p2p lending service PrÃªt dâ€™Union raised 3.3 million EUR (approx. 4.2 million US$) in a new funding round from new investors (including Weber Investment, the holding of the two founders of la FinanciÃ¨re de lâ€™Echiquier and AG2R La Mondiale) and from its previous shareholders. The company has raised a total of 8.1 million EUR since its inception in October 2009. Along with PRÃŠT Dâ€™UNIONâ€™s founders, employees and private investors, the company shareholders are CREDIT MUTUEL ARKEA (34.9%), KIMA VENTURES (5.2%), Xavier Niel and Jeremy Berrebiâ€™s fund (4,2%), Weber Investments (6.4%) and AG2R La Mondiale (2.9%).
“The launch phase was successful. With more than 2.5 million EUR of loans granted in less than six months, we are currently at a rate of over 1 million EUR of credit granted per month, which amounts to a monthly growth of 40%. This new round of financing, … , is an important milestone for PRÃŠT Dâ€™UNION. It will enable us to accelerate our business development through new recruitments, improve our customer service and reach for new customers,” explained Charles EGLY & Geoffroy GUIGOU, respectively CEO and COO at PrÃªt dâ€™Union.
Kimaventures has announced investing in Pret d’union, a p2p lending company in France, which according to it’s website, aims to launch in 2011. Unconfirmed sources state that the funding round raised 500,000 Euro – no information which investors participated apart from Kivaventures isÂ available.
CEO Charles EglyÂ is a former banker at BNP Paribas. While the business model was drafted in September 2008, the company was founded in October 2009 and received regulatory approval in December 2009.
Earlier this year French p2p lending service Friendsclear raised 522,000 Euro from several investors including Arkeon Finance.
EDIT: Additional information provided by CEO Charles Egly: – as of today, PrÃªt d’Union raised ca. 1 Mâ‚¬ from Business Angels and Kima Ventures. – in december 2009 PrÃªt d’union filed a propectus to get a credit institution licence. PrÃªt d’Union has not yet received the licence and is still in discussion with the Bank of France.