Judge Report Claims European Alternative Finance Market Could Top €7b in 2015
The European online alternative finance market grew by 144% last year to nearly €3 billion and could top €7 billion in 2015, according to a report by the new Cambridge Centre for Alternative Finance at University of Cambridge Judge Business School and professional services organisation EY.
The report, Moving Mainstream: The European Alternative Finance Benchmarking Report, includes input from 14 key national or regional industry associations, as well as 255 leading platforms in Europe, to capture an estimated 85 per cent 90 per cent of Europe’s online platform-based alternative finance market. While previous studies have charted alternative finance in the UK, this report is the first to cover other European countries in detail.
Seen until recently as a niche activity, online alternative finance (including equity-based crowdfunding and peer-to-peer business lending) has become a vital and increasingly commonplace source of essential funding for SMEs, start-ups and many other businesses throughout Europe, says the report.
Online alternative finance, comprising platform-based financial transactions outside traditional banking, grew across Europe from €1.21 billion in 2013 to €2.96 billion in 2014. The overall European alternative industry is on track to grow beyond €7 billion if the market fundamentals remain sound and growth continues apace.
Click here to read more about the report.
