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A Glimpse Of Asia Versus The Global P2P Lending Landscape, From 2000s To Provide
2017 will be touted whilst 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 cross $2.4 Bn by 2020, depending on reports by KPMG Asia and NASSCOM. Asia is house to significantly more than 500 fintech startups. Amidst the increasing class of electronic wallets, UPI, mPoS, one sector that is gradually and quietly rearing its head is P2P lending (peer-to-peer lending).
Presently, at a stage that is nascent the P2P financing landscape in Asia can be poised to cultivate right into a $4 Bn-$5 Bn industry by 2023. The domain’s beginning really goes to 2012, once the very first peer-to-peer home loan company i-Lend was launched. At the moment, the P2P financing room 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 much more. Of the, 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. Continue reading