P2PFA welcomes growth in European P2P lending market
UK body urges caution ahead of future regulation
Following the launch of a new report into alternative finance by the University of Cambridge and EY, Moving Mainstream: The European Alternative Finance Benchmarking Report,
Christine Farnish, Chair of the P2PFA, said:
“Today’s report is exceptionally important and details the emerging and growing importance of the alternate finance sector across the continent. It is encouraging to see that peer-to-peer lending is the most significant market. In 2014 alone, the combined value of peer-to-peer lending to consumers and businesses in Europe was €367 million.
“Yet as the sector grows, we need to be mindful of future regulation. While it is important consumers are given appropriate protection, we would not want to see regulation that stifles innovation and harms the industry as a whole. It is vital that any laws also differentiate between low-risk forms like peer-to-peer lending, compared to high-risk forms like equity crowdfunding.”
For further information please contact:
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Notes for Editors
Today’s report published by EY and Cambridge Judge Business School can be found here.
For more information about the P2PFA, please visit our website at: https://p2pfa.org.uk/https://p2pfa.org.uk/
About the P2PFA:
The Peer-to-Peer Finance Association is a UK trade body that maintains Rules and Operating Principles that must be followed by all Member organisations to protect the interests of all their consumer and small business customers. The P2PFA publishes quarterly figures showing industry data and the cumulative lending. On April 1 2014, peer-to-peer lending became regulated by the Financial Conduct Authority.
The P2PFA’s current membership includes: Funding Circle, Landbay, LendInvest, LendLoanInvest, Lending Works, Madiston, MarketInvoice, RateSetter, ThinCats and Zopa.