These peer-to-peer platforms lent nearly £3bn

Nearly £3bn was lent across the UK’s biggest peer-to-peer platforms last year, new figures out today showed. More than £800,000 was lent in the last quarter of 2016 by members of the Peer-to-Peer Finance Association (P2PFA). Since the beginning of 2010, members of the association have lent an estimated £7.3bn. Zopa is the P2PFA’s biggest member, lending £1.9bn in the six-year period, followed by Funding Circle (£1.8bn) and RateSetter (£1.6bn). The organisation’s five other members are LendInvest (£855m), Market Invoice (£838m), ThinCats (£211m), Landbay (£43m) and Lending Works (£39m). Over 2016, P2PFA tracked around £2.95bn of lending, compared with around £2.24bn in 2015. Read more: