

According to the post, there are 10 different active crowdlending platforms in Spain’s nascent industry, that totaled 13.7 million EUR in 2014, a small figure compared to other countries. Specific P2P lending regulation should accelerate the growth rate, such as Catalonia’s recent 17 Funding Initiatives regulations passed in October which sought independence from traditional banks.

Nebot also specifies some examples that will help gain the confidence needed from investors and professional investors alike, such as (1) the obligation to obtain a registration as a Payment Service Provider (enabling to set a clearer boundary between platforms’ and clients’ money) and (2) transparency requirements. Although a relatively small P2P lending market, Spain’s growth rates prove comparable.
“The Spanish market has its very special cyclical characteristics that continuously test the p2p nascent market:In Spain, we saw important “anomalies” like the reduction of the business bank credits as a whole of almost 50% from 500 billion to 300 billion in only 4 years (2009-2013), or the re-opening of that credit all of a sudden at the beginning of this current year at very a low interest rates,” wrote Nebot. “Nevertheless, P2P lending goes on gaining market share, gaining costumers, gaining confidence. High Net Worth Individuals are starting to incorporate this asset class into their fixed income portfolios. As platforms gain volume and track record, Family office are starting to invest. The entry into force of the regulation will provide the basis for these clients to seriously invest and move on to the institutional clients.”
For Nebot’s full report on P2P-Banking.com, please click here.