News

Factoid: Alternative credit continues to boom

July 06, 2017 • By TAB team

Asset-backed finance in the UK is at all time high at £22.2B according to the Asset Based Finance Association. Its volume has more than doubled since the 2007 pre-financial crisis peak. Peer-to-peer platforms have driven rapid growth in small and medium business financing.

Asset-backed finance in the UK is at all time high at £22.2B according to the Asset Based Finance Association. Its volume has more than doubled since the 2007 pre-financial crisis peak. Peer-to-peer platforms have driven rapid growth in small and medium business financing.

MarketInvoice, the world's largest P2P invoice financing platform, grew 23% to £310.1M at the end of 2016. It is remarkable that MarketInvoice, at £1.3B total financing, already comprises 12% of UK P2P financing according to Crowdsurfer Pro. £2B is in sight.

Credit will always grow as demand is unlimited, given appropriately priced supply. Crowdsurfer Pro sheds detailed light on the industry growth, the fortunes of the individual players, the businesses they are financing as well as contenders like Sancus, Funding Invoice or Monetaflex, who all want a bite of this rapidly growing pie.