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Generally, Marketplace lending is used as an online platform where the borrowers can connect with investors who want to offer loans. This platform provides both loans as well as refinancing. This platform has been developed and launched worldwide. In the year 2007, as per the reports of Fintech Global, an investment of $8.9 billion was made by venture capital firms in relation to the deal to 233 to the lending platforms. This is because a large sum of money was invested through this platform which was more than enough to attract the attention of the largest banks of the world. Goldman Sachs is considered as a key player in this platform as it has introduced its own platform for marketplace lending.
to Transparency Market Research Report that was published in the year 2015, the
aforesaid platform has secured a turnover of $26.2 billion in terms of loans across
the globe. Out of which half of them belonged
to the United States of America. The study shows that about 48.2% annual rate
of growth is holding up for some worldwide platforms similar to this which can
fetch $1 trillion by the end of the year 2024. An image of the marketing place
lending process is annexed below:
What is P2P Lending in India
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