There will be plenty more Wongas to come – even as the fintech sector begins to grow up

FEW NEED telling about the growth of peer-to-peer lending. Whether driven away by dissatisfaction with traditional banking, or pulled by attractive returns and convenience, lenders and borrowers are increasing interested. According to Nesta, P2P business lending grew by 211 per cent between 2012 and 2013. And while P2P lenders control just 1 per cent (about £250m) of the UK personal loan market, the Open Data Institute expects this to increase to £1bn by 2016.

http://www.cityam.com/article/1392004166/innovation-diary-there-will-be-plenty-more-wongas-come-even-fintech-sector-begins