Key Developments

In December 2023, EaseMyDeal, a platform aimed at simplifying financial transactions, partnered with Lendbox, India's leading peer-to-peer (P2P) lending platform and an RBI-registered NBFC-P2P company, to introduce P2P investment options on its app, offering returns of up to 10% per annum.
In November 2023, Zopa, the world's first peer-to-peer (P2P) lending platform founded in 2005 and now a UK-based digital bank, received regulatory approval to launch a full-fledged digital banking service. This milestone allowed Zopa, which has a history of connecting lenders with borrowers and managing over £6 billion in loans, to expand its operations beyond P2P lending and offer customers a comprehensive suite of banking services, including savings accounts, credit cards, and money management tools, while leveraging its expertise in credit risk management and customer-focused financial services.
In February 2021, LendingClub, a leading U.S.-based peer-to-peer (P2P) lending platform founded in 2007 and known for connecting borrowers with investors, completed the acquisition of Radius Bank. This acquisition, which was initially announced in February 2020, marked a significant step towards establishing LendingClub as a full-spectrum digital marketplace bank. The integration enabled LendingClub to expand its product offerings beyond P2P lending, allowing it to provide customers with a broader range of financial services, including savings accounts, checking accounts, and other banking services, thereby enhancing its ability to help customers both pay less when borrowing and earn more when saving.
In September 2021, Funding Circle, a leading U.K.-based peer-to-peer (P2P) lending platform established in 2010 and known for providing over US$ 16 billion in loans to approximately 140,000 small businesses globally, announced a strategic partnership with ING Bank. This collaboration aimed to enhance access to business loans for small and medium-sized enterprises (SMEs) in Germany by leveraging Funding Circle's advanced lending expertise and ING's extensive customer base and financial resources.