GVR Report cover Alternative Lending Platform Market Size, Share & Trends Report

Alternative Lending Platform Market Size, Share & Trends Analysis Report By Deployment, By End Use, By Region, And Segment Forecasts, 2021 To 2028

  • Published Date: ---
  • Report ID: GVR452046
  • Number of Pages: 0
  • Format: Electronic (PDF)
  • Historical Data: ---

The global alternative lending platform market is expected to witness significant growth over the forecast period. Advancements in technology and increasing digitization efforts are encouraging potential consumers and existing players to make quick decisions regarding loans, driving the market growth. An increase in the number of small- and medium-sized enterprises, especially in developing countries, is further expected to contribute to the growth of the market. Small and medium enterprises require various financing options that are faster and offer convenient repayment fees. Moreover, developments in the blockchain and artificial intelligence technology, which are allowing underwriters to make quick lending decisions and provide faster loan disbursement, are further expected to create more demand for alternative lending platforms over the forecast period.

Several peer-to-peer lending companies are making efforts to enter into partnerships with banks to enhance their offerings. These enhancements aim at helping banks improve their customer experience. For instance, in May 2021, Funding Circle, a peer-to-peer lending company, announced its lending partnership with Atom, a U.K.-based bank, to provide new funding of USD 415 million for small businesses. Atom would utilize Funding Circle’s technology platform to provide new funding to 4,000 small businesses in the U.K. Moreover, Atom has already lent small businesses funding worth nearly USD 485 million through Funding Circle’s technology platform, bringing the total lent amount for small businesses to around USD 900 million.

Alternative Lending Platform Market Segmentation




Cloud; On-premise

End Use

Credit Unions; Peer-to-Peer Lending; Insurance Companies; Others


North America; Europe; Asia Pacific; Latin America; Middle East & Africa


The demand for alternative lending platforms increased significantly during the COVID-19 pandemic. A myriad of unexpected issues stemming from lockdowns, restrictions on the movement of people and goods, and the subsequent disruptions in supply chains led to bankruptcy and shutdown of numerous small businesses. These factors prompted various small companies to apply for loans through alternative lending platforms as they offer better investment services within a shorter period.

In recent years, venture capital companies have been focusing on start-ups and helping them raise funds to enhance their product portfolios and cement their positions in the market. For instance, in May 2020, Fundbox, a U.S.-based financial services company, raised USD 20 million in extended Series C funding round. The total capital raised from the Series C funding round from September 2019 amounted to almost USD 200 million, including investor MUFG Innovation Partners, the corporate venture capital arm of Mitsubishi UFJ Financial Group. The company would utilize the funding to continue to expand its business reach. Such venture capital investments are expected to create new opportunities for the growth of the market over the forecast period.

The key players in the market include Funding Circle Limited., On Deck Capital, Kabbage, Social Finance, Inc., and Prosper Funding LLC. These players are focusing on adopting growth strategies such as partnerships, mergers & acquisitions, and new product development to further expand their global market presence. For instance, in August 2021, Funding Circle announced the extension of its partnership with Congressional Bank, a bank headquartered in Maryland, to provide more capital to small businesses across the U.S. The second phase of this partnership allowed Congressional Bank to expand its loan purchasing capacity through Funding Circle’s platform. Through this partnership, Funding Circle strengthened its market position in the U.S.

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