P2P firms seek to ride booming Asian demand

Online lending companies believe they have enormous room to grow, although rising US interest rates could place their business models under pressure.

Peer-to-peer lenders claim to have enormous growth potential in Asia courtesy of their low costs and the region's huge demand for credit, which banks are failing to meet.

Speaking at Finnovasia’s The Future of Fintech in Asia conference on December 9 in Hong Kong, Mukesh Bubna, founder and chief executive of Monexo Innovations, said the P2P lending industry has grown at a rapid pace and will likely continue to do so in the years ahead as it expands from China to other markets such as India.

P2P lenders utilise an online platform to match up willing capital providers with individual or small enterprise borrowers for relatively small...

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