P2P Lending volumes for April 2016. Lendinvest stands out while most others are struggling as institutional participants pull out.
“Internet Finance” in China. Key takeaways:
- China is the biggest market in the world for online lending.
- Most Banks are state owned and don’t offer many retail or SME products. Companies with 10,000 employees are too small to get credit! This created a lot of opportunity for internet finance businesses. Essentially, 5% of the Black economy moved online.
- A lot of people don’t have credit scores.
- Lots of ponzi schemes.
Wish Mumbai borrowed such ideas that reduce our traffic menace.