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Dhanax & Rangde among Top 20 P2P Lending Sites

The Peer-to-Peer lending industry blog, P2P-Banking.com, has recently published a list of P2P Lenders and their respective loan volumes from around the world. Nor surprisingly, 3 of the top sites are from the US. However, in what marks a proud presence of India on the global online finance map is the presence of both Dhanax and Rangde at the 20th position, albeit shared with 7 others.

Source: P2P-banking.com. The loan volumes are not directly comparable for they are cumulative since launch of each service and represent different time spans.

P2P-Banking says:

The services can be divided in three categories:

1. p2p lending marketplaces (e.g. Prosper, Zopa, Lending Club, Smava) – participants driven mainly by economic motives
2. social lending services enabling micro financing (e.g. Kiva, MyC4) – participants driven mainly by social motives
3. other concepts (e.g. Virginmoney which is special in the way that it does not do the matchmaking between borrowers and lenders, but supports the process between persons that already had offline relations- slogan “We manage loans between family and friends“)

• Facilitators: My definition of peer-to-peer lending excludes Virgin Money and Loanback because they do not serve as matchmakers (note 1). They do play a crucial role in putting a legal framework in place for friends-and-family loans and often end up servicing the loans as well. They are more like PayPal where Prosper/Lending Club are like eBay.
• Microfinance markets: I would exclude Kiva as well. It’s an awesome platform that allows U.S. citizens to loan money to third-world merchants at zero interest. A powerful tool for philanthropy, yes, but not really peer-to-peer. The same goes for MyC4 and Microplace.

So excluding the above companies, total worldwide originations are $262 million, with two-thirds of that from Prosper.

(Unquote)

Source: Netbanker.com