#AlternativeLending Yes it's a thing, and it's growing

Great Article form CBInsights discussing the history, development, and mergers of Alternative Lending Word Wide. This is a big issue in banking today and we are happy to see so much growth. 

As alternative lending matures into what some in the industry are calling “alternative lending 2.0,” we look at the sector’s evolution since 2005.

UK-based lender Zopa pioneered peer-to-peer (P2P) lending in 2005, quickly followed by US contenders Prosper Marketplace and LendingClub in 2006. These companies allowed borrowers to cut out financial institutions, while promising transparency, efficiency, and lower costs.

By December 2014, venture-backed alternative lenders OnDeck Capital and Lending Club had gone public on the NYSE. By 2015, equity funding to the alternative lending industry had hit an all-time high, with private companies including SoFi, Avant, and Kabbage receiving a collective $6.3B from investors.
— CBInsights