This week in Alternative Finance
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Welcome to the AltFiNews Letter!
Firstly, a reminder that individual tickets are now on sale for the AltFi Awards at a Super Early Bird rate of £250 each. We also have a limited time 3 for 2 offer. Don’t miss out on these great savings! You can book your tickets here.
Plenty of news in the p2p space this week – and none more fascinating than the sector as a whole passing the £1.5 billion mark, growing by 50% in the past 5 months alone. The landmark news was broken by AltFi Data. You can view May’s edition of the Liberum AltFi Index, complete with in-depth analysis, here.
The first global p2p-focused fund – P2P Global Investments – completed a successful placing on the London Stock Exchange. The target size of the issue (£200 million) was successfully reached.
RateSetter have enjoyed a strong week in which they once again pipped Zopa to the post in terms of monthly loan originations. We also gained an insight into the platform’s mutually beneficial relationship with mobile operator giffgaff. RateSetter got involved in the current p2p craze that is surveys – producing a fascinating set of statistics about who is using the platform and why.
The p2p business lending space seems to receive a constant supply of fresh entrants – whereas very few platforms surface to challenge RateSetter and Zopa in the consumer lending sphere. Lending Works is one of the few young challenger platforms in the space, and we caught up with Founder Nick Harding for the inside scoop on the platform.
The Bank of England revealed that net lending to SMEs under the government’s Funding for Lending scheme has taken a nosedive – falling £723 million in Q1 of 2014. Music to the ears of alternative finance providers, no doubt – but not so sweet as the news that legislation for the much-rumoured SME referral system is expected to be announced in the Queen’s speech on Wednesday 4th June.
The latest research from Knowledge Peers confirms the continued growth of the SME alternative finance space – but also foretells a stagnating in the emergence of new providers.
Two intriguing opinion pieces were published on the site this week. Ryan Weeks explores the sudden rush of research in the alternative finance world, and more, in the AltFi Frontline. Meanwhile, Julian Wells – Marketing Director as Rebuildingsociety – offered his thoughts on where new market entrants will appear from in 2014.
That’s all for now – don’t forget to book your AltFi Awards tickets!
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