The global alternative lending platform market size is anticipated to reach USD 14.47 billion by 2030. The market is projected to grow at a CAGR of 25.4% from 2025 to 2030. The growing integration of technology in the financial sector worldwide is anticipated to drive the growth. The strong emphasis by market players on offering enhanced lending solutions to revolutionize the financing ecosystem also bodes well for the development of the industry.
In June 2022, HES FinTech, a loan management platform provider, based in Lithuania, collaborated with Nordigen, a transaction analytics platform based in Latvia. This partnership was aimed to revitalize the lending ecosystem in the European markets by delivering integrated and seamless solutions for end-to-end digital lending. They are focused on a technologically advanced approach to making the lending sector more accessible by eliminating the hassle of traveling to offices and signing documents.
Industry incumbents across the globe are focused on customer acquisition by providing attractive products. For instance, in December 2021, Kabbage from American Express launched Kabbage FundingTM, providing flexible lines of credit between USD 1,000 and USD 150,000 to qualified small businesses. Small businesses may apply for loans in minutes with Kabbage Funding to get working capital available around the clock to help them manage their cash flow.
The outbreak of COVID-19 is expected to play a vital role in driving the growth of the market during the forecast period. Although the outbreak took a toll on the lending market, the need for credit, on the other hand, increased as many individuals suffered financial losses. This created unique opportunities for alternative lenders to cater to the vast credit requirement globally.
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In June 2022, HES FinTech, a loan management platform provider, based in Lithuania, collaborated with Nordigen, a transaction analytics platform based in Latvia. This partnership was aimed to revitalize the lending ecosystem in the European markets by delivering integrated and seamless solutions for end-to-end digital lending. They are focused on a technologically advanced approach to making the lending sector more accessible by eliminating the hassle of traveling to offices and signing documents.
Industry incumbents across the globe are focused on customer acquisition by providing attractive products. For instance, in December 2021, Kabbage from American Express launched Kabbage FundingTM, providing flexible lines of credit between USD 1,000 and USD 150,000 to qualified small businesses. Small businesses may apply for loans in minutes with Kabbage Funding to get working capital available around the clock to help them manage their cash flow.
The outbreak of COVID-19 is expected to play a vital role in driving the growth of the market during the forecast period. Although the outbreak took a toll on the lending market, the need for credit, on the other hand, increased as many individuals suffered financial losses. This created unique opportunities for alternative lenders to cater to the vast credit requirement globally.
Alternative Lending Platform Market Report Highlights
- The lending analytics segment is expected to witness the fastest growth during the forecast period. The rising prevalence of alternative lending increased the need to track and analyze loan data points which thereby created the need for lending analytics.
- The managed services segment is expected to witness the fastest growth during the forecast period. The rising adoption of technology and rapidly changing industry trends are expected to increase the demand for managed services.
- The cloud segment is expected to witness the fastest growth during the forecast period as the cloud-based deployment model aids in reducing operational costs and increases efficiency.
- The peer-to-peer lending segment is expected to grow at the fastest CAGR. The increased utilization of internet applications and smartphones is expected to create growth opportunities for the segment growth during the forecast period.
- The Asia Pacific is expected to witness the fastest growth during the forecast period. The rapid technological developments and acceptance of algorithm-based modern credit solutions that can match borrowers with a best-suited lender offered by companies such as Wechat and Lendingkart in China, India, and Japan are the primary factor boosting the growth.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments
- Competitive Landscape: Explore the market presence of key players worldwide
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
The leading players in the Alternative Lending Platform market include:
- Funding Circle
- On Deck Capital
- Kabbage
- Social Finance, Inc.
- Prosper Funding LLC
- Avant, LLC
- Zopa Bank Limited
- LendingClub Bank
- Upstart Network, Inc.
- CommonBond, Inc.
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Alternative Lending Platform Market Variables, Trends, & Scope
Chapter 4. Alternative Lending Platform Market: Solution Estimates & Trend Analysis
Chapter 5. Alternative Lending Platform Market: Services Estimates & Trend Analysis
Chapter 6. Alternative Lending Platform Market: Deployment Estimates & Trend Analysis
Chapter 7. Alternative Lending Platform Market: End Use Estimates & Trend Analysis
Chapter 8. Alternative Lending Platform Market : Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Funding Circle
- On Deck Capital
- Kabbage
- Social Finance, Inc.
- Prosper Funding LLC
- Avant, LLC
- Zopa Bank Limited
- LendingClub Bank
- Upstart Network, Inc.
- CommonBond, Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 160 |
Published | October 2024 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 3.82 Billion |
Forecasted Market Value ( USD | $ 14.47 Billion |
Compound Annual Growth Rate | 25.4% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |