Top 5 Peer-to-Peer (P2P) Lending Platforms in Iceland 2023
If you are an investor from Iceland and interested in peer-to-peer lending, there are currently several platforms that offer great opportunities. Here are the top peer-to-peer lending platforms for available investing in Iceland at the moment:
Best local platforms for peer-to-peer lending in Iceland
Iceland doesn’t have any local P2P lending platforms at the moment. Investors from Iceland will have to use foreign platforms for investing.
History of peer-to-peer lending in Iceland
Peer-to-peer (P2P) lending is a relatively new financial innovation that enables individuals or businesses to obtain loans directly from other individuals or businesses, thereby cutting out traditional financial intermediaries such as banks.
The Icelandic market has not seen the establishment of any local P2P lending platforms so far. This can be attributed to various factors, including small population size, strict financial regulations by the Icelandic Financial Supervisory Authority (FME), and the dominance of traditional banks in the financial market.
In comparison to other markets, particularly neighboring countries, Iceland’s P2P lending landscape is still in its infancy. The Nordic countries, such as Sweden, Norway, and Finland, have seen significant growth and development of P2P lending platforms. These countries’ platforms have gained popularity, offering various types of loans to individuals and businesses.
Best European platforms for P2P lending in Iceland
To find the best platforms for P2P lending in Iceland, it is important to consider the fees and potential returns. Here are some of the most popular platforms:
- Lendermarket: This user-friendly platform offers a range of P2P lending options with low fees and high-return loans.
- Esketit: A popular platform for short-term loans, offering investors the chance to invest in projects with high potential returns.
- Reinvest24: Focuses on crowdfunding opportunities in Iceland and Europe, giving investors access to equity investments in real estate projects.
- AxiaFunder: Suitable for investors looking for litigation crowdfunding, allowing them to invest in various lawsuits.
- PeerBerry: Offers a variety of P2P lending options, including personal, business, and real estate loans, with the added security of a buyback guarantee.
Investors should research each platform to determine which one is the best fit for their investment goals. These platforms provide access to low-cost loans and the potential for higher returns, making them great options for P2P lending in Iceland.