ThinCats The 5th P2P Site To Breach £200m

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By on 16 January, 2017 | Read more by this author

Many lenders like to assess P2P lending sites based on their size. That's why our experts looked at total P2P lending from 39 different platforms available to UK lenders since they first started. This is the fullest – and after our experts' adjustments probably the most accurate – list of UK total P2P lending anywhere. Here's what they found:

  • Total all time P2P lending from 39 platforms is over £7 billion.
  • 2016 lending** was £3.1 billion.
  • Zopa has done the most business at over £1.9 billion.
  • ThinCats recently became the fifth site to breach £200m in lending.
  • Lending Works* just became the 15th to hit £40m.
  • HNW Lending* was recently the 20th to breach £20m.
  • Proplend* overtook Landbay* and Rebuildingsociety*, which have both slowed, while becoming the 28th P2P lending site to breach the £10 million barrier.

 

Now, please don't nitpick! Many of these figures below are far from official, because not all platforms reveal their lending in an easily accessible way or they don't reveal all their lending, or the figures they reveal are out-of-date or over-inflated. So there are some conservative underestimates in the table below where limited data is available.

(Updated on 27/01/2017 after receiving precise figures from some platforms.)

Total P2P lending – all-time

P2P lending websiteTotal lent through P2P loans
Zopa£1,950,000,000
Funding Circle*£1,853,590,147
RateSetter*£1,650,541,479
Wellesley*£417,082,235
Saving Stream£241,928,104
ThinCats£206,183,000
Assetz Capital*200,000,000
Folk2Folk£130,791,302
MarketInvoice£100,000,000 to £200,000,000
Mintos£92,082,109
Funding Secure£87,462,189
Bondora£77,126,659
Twino£76,502,762
Octopus Choice£44,350,000
MoneyThing£41,029,683
Lending Works*£40,059,724
Abundance£38,000,000
FundingKnight£31,270,000
The Bridgecrowd£30,493,000
CrowdCube (bonds)£25,400,000
ArchOver*£23,700,000
HNW Lending*£20,205,647
Relendex£19,900,000
Downing Crowd£19,520,053
CrowdStacker£18,111,012
UK Bond Network£11,631,000
Invest & Fund£11,300,000
Proplend*£10,885,500
Rebuildingsociety*£10,834,814
Landbay*£10,316,525
Money&Co£9,000,000
LendingCrowd*£8,485,601
Viventor£8,403,361
Savy£5,121,704
eMoneyUnion£2,400,000
Crowd2Fund*£2,200,000
Investly£1,401,519
Funding Empire£727,554
Cofunder£45,400

Don't be surprised if some of those numbers look a lot lower than the headline figures some of the P2P lending websites report for themselves. 4thWay's experts make adjustments to some of the figures for accuracy's sake, which brings down total P2P lending figures.

The most significant example is invoice financing P2P company MarketInvoice. MarketInvoice reports total lending as over £1 billion. This is perfectly reasonable, since it counts every new loan it makes as…well, a new loan. Invoice financing often involves consecutive or near consecutive short-term loans to the same borrower. 4thWay experts believe it's frequently more appropriate to consider such repeated loans to all be the same, single borrowing facility, much like an overdraft. So they've made an estimate of the total facilities to bring MarketInvoice total lending down to between £100m and £200m.

The precise date the figures above were taken varies, although the majority wer taken on 31 December 2016.

*Commission and impartial research: our service is free to you. We already show dozens of P2P lending companies in our accurate comparison tables and we keep adding more as soon as they provide us with enough details. We receive compensation from RateSetter, Wellesley, Assetz Capital, Lending Works, ArchOver, HNW Lending, Proplend, Rebuildingsociety, Landbay, LendingCrowd and Crowd2Fund and other P2P lending companies not mentioned above when you click through from our website and open accounts with them. We vigorously ensure that this doesn't affect our editorial independence. Read How we earn money fairly with your help.

**From 37 P2P lending sites.

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Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers “bonds”. Unlike its P2P lending service, its bonds don’t allow you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

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Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers two “bonds”, one of which is available as an ISA.

Unlike its P2P lending service, neither of these bonds allows you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

Got it

×

Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers two “bonds”, one of which is available as an ISA.

Unlike its P2P lending service, neither of these bonds allows you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

Got it

×

Why are Orchard’s interest rates different?

Orchard’s lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Orchard’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Got it

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Why are Wellesley’s interest rates different?

Wellesley’s P2P lending rates appear higher on its own website than on 4thWay®.

This is because we calculate Wellesley’s interest rates the same way most other P2P lending websites do. We do this so that you can compare the rates more easily and so that they show a more accurate picture of what you’ll earn.

Important information before you visit Wellesley & Co.

Wellesley & Co. is primarily a P2P lending website.

But, when you visit the Wellesley website, you’ll see that it also offers “bonds”. Unlike its P2P lending service, its bonds don’t allow you to lend directly to 100+ borrowers.

Instead, you lend to Wellesley and it lends to other borrowers.

We have not risk-rated either of those bonds, but we expect that their structure makes them more risky, particularly because you’re lending to just one borrower.

Got it

×
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