With Affirm recently becoming the latest lending upstart to reach unicorn status, we mapped out what the fintech sector looks like 10 years after its earliest startup formation.
Alternative lending is a decade-old industry, with many characteristics of a maturing sector. Just this past week, Lending Club — a major player in the space, which went public three years ago — hosted its first ever investor day, giving investors a closer look at the company’s business models and growth prospects.
Also this week, point-of-sale financing startup Affirm raised a $200M Series E round led by GIC, officially propelling the company to unicorn status with a $2B valuation.
Using CB Insights data, we identified 95 companies defining the alternative lending industry today and mapped them across 3 main categories: marketplace, installment plans, and originators.
Our market map aims to outline the full alternative lending space, and therefore includes some public and acquired companies (in the case of acquired businesses running under their original names).
We define alternative lending to include any company that is providing direct loans or facilitating lending to consumers or businesses through its marketplace. We exclude brokers, search tools, and lending software companies.
This market map is not meant to be exhaustive of companies in the space. Companies may be listed in more than one category if they have multiple lending focuses, though will not necessarily appear in every category where they operate.
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