Crowds gather for peer-to-peer lending as new Innovative Finance ISA is introduced
The peer-to-peer lending sector has grown exponentially in recent years, with recent figures published by Nesta showing that, in the UK alone, peer-to-peer business lending reached £1,490 million in 2015 (up from circa. £749 million in 2014 – a 99% increase) and peer-to-peer consumer lending hit circa. £909 million in 2015 (up from £547 million in 2014 – a 66% increase).