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P2P Financial Platforms
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P2P Financial Platforms

Eliminating financial intermediaries by directly connecting individuals and businesses

Overview

“Peer-to-peer” (P2P) financial platforms cover solutions that enable individuals to circumvent legacy financial institutions in making fund transfers, payments, and investments. The space includes 1) P2P fund transfers (focusing mainly on cross-border payments), 2) P2P lending, which acts as the connecting party between borrowers (both personal and commercial) and retail investors looking for unconventional debt investments, and 3) P2P investing (focus on equity crowdfunding platforms). 

*Note: Additional sections (such as market sizing, detailed overview, and incumbents) can be provided on request.

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Market Mapping

Incumbents
Growth
Early
Seed
Pre-Seed
P2P Fund transfer
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P2P Lending
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P2P Investing
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CurrencyTransfer.com
CurrencyTransfer.com
CurrencyTransfer.com

The Disruptors

Funding History

Notable Investors

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Funding data are powered by Crunchbase
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Industry scope 

This industry focuses on companies offering the following:

1. P2P fund transfers (cross-border business and individual transfers): These are mainly platforms that enable cross-border (international) payments, which were traditionally channeled through banks or money transfer service providers (such as Western Union). While these institutions charged higher fees and provided unfavorable exchange rates (due to the disparity in rates when buying vs selling forex), P2P money transfer platforms avoid these issues by leveraging a global network of users, ensuring that money does not have to leave the respective countries for the transfers to be completed. 
2. P2P lending platforms: These cover both personal and commercial lending. In terms of personal loans, individuals seek loan facilities for various activities including home purchases and college education. Typically, these needs are met through loans from financial services providers such as banks. By contrast, P2P lending platforms let users access the necessary funding through the platform, which in turn is funded by retail investors looking for unconventional debt investments. P2P loans can also be utilized for commercial purposes, as in the case of obtaining loans for commercial real estate investments. 
3. P2P investing: The focus here is on equity crowdsourcing platforms that help businesses raise equity funds from retail investors, rather than through institutional funders like venture capitalists and private equity firms. 
However, we exclude the following areas when selecting companies for this industry:
  1. P2P collectibles marketplaces: These platforms do not circumvent traditional financial institutions and instead give smaller investors access to illiquid collectibles.
  2. Non-equity crowdfunding platforms: Crowdfunding platforms based on rewards or donations are not included, given these do not enable businesses and individuals to bypass established financial institutions.  
  3. Investment funds: These are typically established businesses that operate similar to unit trusts (i.e., they aggregate funds and invest them in assets). However, users typically do not have the option of selecting the specific recipients for funding
  4. Crypto exchanges/lending: Cryptos rely on blockchain technologies and have been excluded as the market dynamics and enablers are not comparable. 
  5. Platform infrastructure providers: This is already covered in the FinTech Infrastructure report.
  6. P2P stock brokering platforms: Already covered in the Retail Trading Infrastructure report, under B2C online trading platforms. 
  7. P2P Digital wallets: This includes platforms like Venmo that offer domestic P2P fund transfers, bill splitting, in-store and online payments, etc. These platforms are excluded because they focus on in-store and online payments, and the value proposition is not limited to fund transfers. 
  8. Donation platforms: These platforms do not typically circumvent financial institutions and there are only a few in existence.
Currently, we do not actively cover this industry, but we have identified it as a potential industry to add to our coverage. For the list of industries in our coverage, please visit https://sp-edge.com/industries. 
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