The worldâ€™s peer that is largest to peer lending market may quickly disappear
As soon as we started LendIt in 2013 I experienced no clue that Asia had been a hot sleep of peer to peer (p2p) financing. But here I found myself chatting with several leaders through the Chinese p2p financing industry at initial LendIt straight straight back in June 2013. We did no advertising in Asia but numerous got wind regarding the event and traveled to new york to be here. It absolutely was then that i consequently found out the massive scale the industry had currently accomplished when you look at the worldâ€™s most populous nation.
We first wrote concerning the Chinese p2p financing industry later that 12 months and introduced the western to CreditEase, the organization that was the biggest p2p lending platform on the planet. Throughout the next year or two the industry thrived with a large number of platforms introducing additionally the total loan volume skyrocketing to over $150 billion in 2015, that was four times the mortgage amount of 2014.