The Chinese government continues its crackdown of the P2P lending sector (1) leading to a beeline of exiting firms (2), mass layoffs (3) and international banks to distance themselves from the troubled sector (4).
However, the enthusiasm of young Asian consumers (5) have some firms preparing to hold firm through the turbulence and gear up for expansions (6) and funding rounds (7). India moved to limit unregulated finance, leading to the hope that transparency of P2P lending platforms will boost their value as an investment option (8).
The P2P lending market in Asia has been hit by a slew of setbacks in the last few quarters. Going from a hyped-potential of bringing access to capital to the ones who need it most, to one of the most complained about business sectors (9) is a respectable feat in its own right.
Nevertheless, some nations have managed to find the balance between hype and regulation (10) and moved to block the more unscrupulous players (11)— and the bid to invest in Asian SMEs continues (12).
China Freezes $1.5 Billion of P2P Assets in Intensified Probe
Goldman, Citi drop peer-2-peer lenders after China cracks down
China's millennials embrace loans and paying in instalments as microloan industry booms
Indonesian P2P lender Akseleran secures $2.5m in ongoing Series A round
Credit Culture raises $29m from Malaysian RCE Capital to compete with personal bank loans – KrASIA
P2P lenders develop new ways to build trust - Times of India
P2P Lending Platform Validus Capital Raises Over S$20 Million to Boost SME Growth in Southeast Asia