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Global Alternative Financing Market Size, Trends, Forecast: By Type: Peer-to-Peer Lending, Crowdfunding, Invoice Trade, Others; By End Use: Individual, Businesses; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Alternative Financing Market Outlook
The global alternative financing market size reached approximately USD 10.4 billion in 2023. The market is assessed to grow at a CAGR of 17.6% between 2024 and 2032 to attain a value of around USD 27.4 billion by 2032.
Key Trends in the Market
Alternative financing refers to funding or financing that is granted by mediums other than traditional lenders like banks. Some examples of alternative lenders are investment funds, private equity firms, credit unions, hedge funds, and venture capital investors. Alternative financing typically boasts a quicker and easier lending process and offers loans without collateral at low-interest rates.
- One of the key alternative financing market trends is the emerging shift from traditional financing options like banks to alternative financing modes like crowdfunding and corporate venture capital, especially among start-ups and small and medium-sized enterprises. Such financing modes are flexible, boast an easy application process and quick approval turnaround, and eliminate the requirement for collateral.
- The emergence of fintech in both developed and developing countries is positively impacting the alternative financing market growth. Fintech companies are increasingly providing alternative financing solutions with flexible repayment options, lowered interest rates, and personalised terms, surging the accessibility of lending among underserved populations and organisations.
- The trend of digitalisation and virtualisation, supported by Industry 4.0, is expected to support the alternative financing market growth in the forecast period. Moreover, lenders are increasingly leveraging technologies like artificial intelligence (AI) and machine learning to improve their operational efficiency and quality of offerings, automate various processes, analyse credit scoring of borrowers, and offer personalised services to clients.
Market Analysis
Based on type, the alternative financing market segmentation includes peer-to-peer lending, crowdfunding, and invoice trade, among others. On the basis of end use, the market can be divided into individual and businesses. The major regional markets for alternative financing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global alternative financing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- On Deck Capital, Inc.
- GoFundMe, Inc.
- Edinburgh Alternative Finance Limited
- Funding Circle Ltd
- Wefunder Inc.
- LendingTree, LLC
- Peerform, Inc.
- LendingClub Bank
- Fundly, Inc.
- Prosper Funding LLC
- Others
Market Share by Type
As per the alternative financing market analysis, peer-to-peer (P2P) lending is experiencing a rapid growth as it enables users to directly obtain loans while eliminating the requirement for middlemen. P2P lending platforms evaluate borrowers through different aspects such as their income, credit score, employment, and social media activities, among others, to evaluate their creditworthiness.
In the forecast period, the popularity of crowdfunding is likely to significantly increase as it offers accessibility to diverse investors and empowers businesses and individuals to eliminate upfront fees. Crowdfunding platforms also serve as a way for businesses to market their products and gain valuable insights.
Market Share by End Use
Businesses are anticipated to represent a significant portion of the global alternative financing market share in the coming years. SMEs are increasingly preferring alternative financing options due to their efficient and smoother financing process and growing concerns regarding inflation, rising interest rates, and bank failures, among others. Businesses operating in sectors like construction, industrial, and transportation, among others, rely on equipment and hard assets, which boost their inclination towards alternative financers to provide agile and flexible funding.
Competitive Landscape
On Deck Capital, Inc., headquartered in New York, United States, and a part of Enova International, Inc., is a company that offers loans to small businesses throughout the United States. With its establishment in 2006, the company has emerged as a pioneer in meeting the needs of small-sized businesses. Some of its offerings include a business line of credit and a business term loan to meet the unique requirements of small businesses.
GoFundMe, Inc. is a community-powered fundraising platform that enables individuals to start their fundraiser, share it with friends, and manage donations seamlessly. It was founded in 2010, and since has established its reputation as a leading fundraising platform for medical emergencies, non-profit organisations, and education, among others.
Edinburgh Alternative Finance Limited, established in 2014, is a prominent fintech company based in Scotland. It is one of the leading alternative financing companies and supports businesses to meet their requirements through its peer-to-peer platform. The company aims to leverage technologies such as machine learning and artificial intelligence to provide financing to small and medium-sized enterprises across the United Kingdom.
Other alternative financing market players include Funding Circle Ltd, Wefunder Inc., LendingTree, LLC, Peerform, Inc., LendingClub Bank, Fundly, Inc., and Prosper Funding LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Alternative Financing Market Analysis
8.1 Key Industry Highlights
8.2 Global Alternative Financing Historical Market (2018-2023)
8.3 Global Alternative Financing Market Forecast (2024-2032)
8.4 Global Alternative Financing Market by Type
8.4.1 Peer-to-Peer Lending
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Crowdfunding
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Invoice Trade
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Alternative Financing Market by End Use
8.5.1 Individual
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Businesses
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Alternative Financing Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Alternative Financing Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Alternative Financing Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Alternative Financing Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Alternative Financing Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Alternative Financing Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 On Deck Capital, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 GoFundMe, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Edinburgh Alternative Finance Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Funding Circle Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Wefunder Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 LendingTree, LLC
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Peerform, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 LendingClub Bank
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Fundly, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Prosper Funding LLC
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Alternative Financing Market: Key Industry Highlights, 2018 and 2032
2. Global Alternative Financing Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Alternative Financing Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Alternative Financing Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Alternative Financing Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Alternative Financing Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Alternative Financing Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Alternative Financing Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Alternative Financing Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Alternative Financing Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Alternative Financing Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Alternative Financing Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Alternative Financing Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Alternative Financing Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Alternative Financing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Alternative Financing Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Alternative Financing Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Alternative Financing Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 10.4 billion.
The market is assessed to grow at a CAGR of 17.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 27.4 billion by 2032.
The major market drivers are the emergence of fintech companies and the shift from towards financial services.
The growing popularity of crowdfunding, the increasing usage of alternative financial services among SMEs, and technological advancements and innovations are the key trends propelling the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant end uses of alternative financing are individual and businesses.
The major players in the market are On Deck Capital, Inc., GoFundMe, Inc., Edinburgh Alternative Finance Limited, Funding Circle Ltd, Wefunder Inc., LendingTree, LLC, Peerform, Inc., LendingClub Bank, Fundly, Inc., and Prosper Funding LLC, among others.
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