How to start a P2P lending platform in 2023
P2P lending platforms can generate a lot of revenue from fees. But the P2P industry is also a very competitive industry which means that people who would like to get into this sort of business should expect to do a lot of marketing efforts to actually succeed.
If you are attracted to the P2P lending business model or just wondering how some of the crowdlending companies have actually made their platforms, there are a few options to get into the industry:
Find a P2P lending platform for sale
For business people wanting to run their own P2P lending company, the easiest and fastest way to get to market quickly would be to find an existing P2P lending platform for sale.
It will of course require a lot of effort to find platforms available for sale, but it could be an easy way to get started with some clients from the get-go. Finding a Peer-to-Peer lending platform for sale is also the method that requires the most capital initially.
Use a white-label solution
A decent amount of P2P lending platforms on the market use white-label solutions from P2P Force and other providers that make it easy to set up a P2P lending marketplace using a template. Using a white-label solution can be a highly cost-effective way of making a P2P lending platform as it does not require as much software development to get started.
European P2P lending companies like EstateGuru are for example using some of the P2P lending software from Fintechlabs.
Make a crowdlending platform from scratch
A lot of the best P2P lending platforms in Europe are made from scratch. This requires a huge investment in development but does also provide more flexibility to the business itself.
But with a lot of white-label software out there, it is definitely worth considering whether or not it is worth actually building a crowdlending platform from scratch.
Invest in P2P companies
If you are not a business person but would like to have a stake in some of the P2P lending companies out there, you can invest in some of the stock-listed companies or some of the companies that have run a crowdfunding campaign on their own company.
Some of the P2P lending stocks across the world include:
- NEO Finance
Mintos, which is one of the biggest P2P lending platforms in Europe, actually also created a crowdfunding campaign on Crowdcube in 2020 to attract investors to its platform. Similar opportunities may also arise in the future.