May 25, 2023

Major alternative financing market participants include Credoc, Borrowers First, Finastra, GoFundMe, Funding Circle, Kickstarter, LendingClub, Kiva Microfunds, Upstart Network, Inc., Prosper Funding LLC, LendingCrowd, RateSetter, Quicken Loans (Rocket Mortgage, LLC), Sofi, and Zopa. Selbyville, Delaware, May 24, 2023 (GLOBE NEWSWIRE) — The alternative financing market valuation is expected to surpass USD 40 billion by 2032, as reported in a research study by Global Market Insights Inc. Rapid advancements in technology, particularly in fintech, have revolutionized the financial industry. Alternative financing platforms leverage technology to provide efficient and user-friendly services, enabling borrowers and investors to connect directly without intermediaries. In addition, the popularity of online platforms and mobile apps that allow borrowers and investors to participate in alternative financing transactions from anywhere and anytime has boosted the business dynamics. Regulatory frameworks set by governments and financial authorities are also driving industry trends. Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/5670 The alternative financing market from the crowdfunding segment will depict a remarkable CAGR from 2023 to 2032, owing to the growth of the internet and digital platforms. Crowdfunding platforms offer these technologies to create online marketplaces, connecting individuals or businesses seeking funding with potential investors. Moreover, the capability to provide a wide range of investment opportunities across various sectors and stages of business development is set to fuel product adoption. The alternative financing market from the individual financing segment is likely to account for a prominent industry share by 2032, as a result of limited access to traditional loans due to strict eligibility criteria and a preference for faster processing times and more flexible terms. The peer-to-peer approach eliminates the need for traditional financial intermediaries, reduces costs, and allows borrowers to access loans quickly. Europe alternative financing market will grow considerably through 2032. European regulatory bodies introduce measures to support and promote alternative financing options, such as the Capital Markets Union (CMU) initiative, which aims to harmonize regulations across EU member states and make it easier for businesses to access alternative financing sources. Furthermore, a strong regional focus on fostering innovation and supporting startup ecosystems will benefit the product outlook and has effectively increased the awareness of benefits and risks associated with alternative financing. Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/5670 Prominent participants operating across the alternative financing industry are Credoc, Borrowers First, Finastra, GoFundMe, Funding Circle, Kickstarter, LendingClub, Kiva Microfunds, Upstart Network, Inc., Prosper Funding LLC, LendingCrowd, RateSetter, Quicken Loans (Rocket Mortgage, LLC), Sofi, and Zopa. They are adopting product diversification and business expansion tactics to stay ahead in the competitive scenario. Alternative financing market news In January 2023, RateSetter’s division Metro Bank, entered the digital car loan market in the UK. With this, the company aims to use RateSetter’s peer-to-peer technology for its broker partners. The paperless application allows eligible borrowers to access their car on the same day. The companies aim to expand their presence in other parts of the world. In July 2022, Finastra, a financial services firm, introduced an embedded ‘alternative’ BNPL product that was intended to blend traditional regulated lending solutions with POS finance. Partial chapters of report table of contents (TOC): Chapter 2   Executive Summary 2.2    Business trends 2.3    Regional trends