Fintech analyst Cormac Leech gave an epic presentation at LendIt Europe conference in London last week, answering pretty much every question you might have about the online direct lending market.
That covers the new crop of businesses like Lending Club, Funding Circle, RateSetter, and Prosper that let savers lend their money directly to consumers or businesses over the internet. It also covers businesses like iwoca and Kabbage that do balance sheet lending online.
Leech is a former banking analyst turned fintech, or financial technology, analyst with boutique London investment bank Liberum. He’s one of the few people that specialises in looking at this new breed of online and tech-focused finance companies that are springing up around the world.
We asked Leech if we could share his sweeping slide deck and he agreed. Check it out below.
Note: this presentation does not constitute investment advice from either Liberum or Business Insider.
Leech starts by looking at how dominant the big platforms are and just how quickly they’re growing. The eight biggest platforms in the US and UK have grown volumes by 100 times in just five years.
The global market is worth an estimated $180 billion in lending this year alone, according to Leech. China takes the lion’s share, accounting for $157 billion of the total.