Marketplace Lending (Consumer) - Russia

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Russia is projected to reach US$239.60m in 2024.
When compared globally, it is noted that the United States is expected to reach the highest transaction value with US$28bn in 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of the specified region, shedding light on pertinent market-specific advancements.
These indicators, alongside information sourced from statistical offices, trade associations, and businesses, form the basis for the Statista market models.
In Russia, Marketplace Lending (Consumer) is gaining traction in the Capital Raising market, offering alternative funding options for individuals and small businesses.

Definition:

Marketplace Lending platforms offer private users the option to place requests for loans in an online marketplace to find private investors who would invest at an appropriate interest rate. These services apply a credit score and list the financial requests by intended purpose before fixing a lending rate. One or more investors can then serve the credit request. Although banks act in cooperation with the platform providers, the lending is done, in principle, without direct exposure, risk audits or the formal requirements normally associated with credit lending. This is attractive for many users because the processes are expedited, there is less demand when it comes of the borrower’s creditworthiness and the conditions are often more flexible than with traditional bank loans. Users are defined in this case as active borrowers on an online platform; applicants or investors who are only partially recorded as users are not included. The amount of outstanding, short-term installments or consumer loans recognized during the applicable year is used here as a benchmark.

Additional Information:

Key players in the market are Lending Club, Zopa, Auxmoney and Prosper.

Online marketplace for personal loan applications and private investors
Peer-to-Peer loans with interest rates depending on internal credit scoring of the platform provider

Online comparison websites for bank loans
Traditional bank loans
Loans for business purposes (see Crowdlending)

The Marketplace Lending (Consumer) market in Russia is witnessing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this growth.

Customer preferences in the Russian Marketplace Lending (Consumer) market are shifting towards online platforms for borrowing and lending. This is driven by the convenience and accessibility offered by these platforms, as well as the ability to compare different loan options and interest rates. Additionally, customers are increasingly looking for flexible repayment terms and lower interest rates, which can be found through marketplace lending platforms.

Trends in the Russian Marketplace Lending (Consumer) market are being shaped by the growing demand for alternative financing options. Traditional banks in Russia have been tightening their lending criteria, making it difficult for many individuals to access credit. This has created an opportunity for marketplace lending platforms to fill the gap and provide loans to underserved segments of the population.

As a result, the number of marketplace lending platforms in Russia is increasing, offering a wide range of loan products to cater to different customer needs. Local special circumstances in Russia are also contributing to the growth of the Marketplace Lending (Consumer) market. The country has a large population with a significant portion of the population being unbanked or underbanked.

This means that many individuals do not have access to traditional banking services and rely on alternative financing options. Marketplace lending platforms are able to reach these individuals and provide them with the funds they need. Underlying macroeconomic factors in Russia are also driving the growth of the Marketplace Lending (Consumer) market.

The country has experienced economic volatility in recent years, with fluctuations in the value of the ruble and the impact of international sanctions. This has created a need for individuals and small businesses to seek alternative financing options, as traditional banks may be hesitant to lend in uncertain economic conditions. Marketplace lending platforms are able to offer loans with less stringent criteria, providing borrowers with the capital they need to weather economic challenges.

In conclusion, the Marketplace Lending (Consumer) market in Russia is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards online platforms, the demand for alternative financing options, the large unbanked population, and the economic volatility in the country are all contributing to the expansion of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

Crowdfunding is the collective effort of a large number of individuals who network and pool small amounts of capital to finance a new or existing business venture. Each campaign is set for a goal amount of money and a fixed timeframe, each day is counted down and the money raised will be tallied up for visitors to follow its success. The size of the global crowdfunding market is growing and the largest markets are North America and Asia.