Peer-to-peer lenders, which facilitate direct borrowing and lending via technology-based platforms, have seen continued growth in business amid a credit crunch across non-bank lenders. The 19 P2P lenders have now facilitated disbursals of close to Rs 500 crore, estimate industry executives who say that a good chunk of this growth has come in the last twelve months.

Globally, P2P lending started after the 2008 recession when institutional players moved out of active lending in the small and medium enterprise and retail loans segment due to a liquidity crunch, said Rajat Gandhi, founder and chief executive officer at Faircent, which is among the largest P2P platforms. “Since there is a similar situation playing out in India, we have grown nearly 50x since last year. We have gone from disbursing around Rs 2.5-3 crore of loans every month to around Rs 110 crore every month as of date,” he said. 



Read more at: https://www.bloombergquint.com/business/p2p-lenders-grow-amid-a-gloomy-nbfc-environment