What is a peer-to-peer lending network?

Peer-to-peer (P2P) lending enables individuals to obtain loans directly from other individuals, cutting out the financial institution as the middleman. Websites that facilitate P2P lending have greatly increased its adoption as an alternative method of financing.

Can you make a living on peer-to-peer lending?

Peer to peer lending is one of the most simple and effective ways I’ve ever found to make passive income. It has outperformed my stock picks, selling old baseball cards, my own business ideas – everything. I’ve earned more money through it than I’ve earned at anything else except my day job.

Who are the largest P2P lenders in the world?

The two biggest P2P platforms are Mintos and Twino taking over 60% and 20% of market share respectively. Around nine companies that qualify as P2P investment platform currently operate in Latvia. Mintos was founded in 2015. In September 2018 the total amount of loans funded through Mintos have surpassed Eur 1 billion.

Who are the participants in peer-to-peer lending?

Any person including an individual, a body of individuals, a HUF, a firm, a society or any artificial body, a company can participate in the P2P lending platform. The P2P lending is regulated by the Master Directions for NBFC Peer to Peer Lending Platform issued by the RBI in 2017.

How does FinancePeer earn money?

In FinancePeer, a customer depositing money will make more money (from 11 to 37% annually) and when a borrower borrows the money, he gets it at a lower interest rate. This has been made possible the company owing to its advanced technology and operational efficiency.

Who owns Financepeer?

Founded in 2017 by Gajbhiye, Sunit Gajbhiye, Naveesh Reddy and Debi Prasad Baral, Financepeer caters to both offline and online education providers including pre-schools, K-12, colleges, universities, offline test prep, ed-tech, and skilling.