Peer-to-Peer (P2P) Lending in Ireland – Top 2 Platforms 2024

If you’re an investor from Ireland who’s interested in P2P lending, we’ve got you covered. Below are the top peer-to-peer lending platforms that you can invest in right now:

Full list of peer-to-peer lending platforms in Ireland

In Ireland, several P2P lending platforms cater to various needs, such as small business loans, short-term consumer debt, and more. Let’s take a look at some of the top Irish P2P lending platforms:

  • Esketit
  • Lendermarket
  • Linked Finance
  • Flender
  • Invoice Fair
  • Property Bridges
  • Equideq
  • Initiative Ireland
  • Shareline
  • Spark Crowdfunding
  • PitchedIt

History of peer-to-peer lending in Ireland

Peer-to-peer lending started in Ireland around 2013, with the launch of Linked Finance, the first peer-to-peer lending platform in the country. The concept of P2P lending emerged as an alternative source of funding for small and medium-sized enterprises (SMEs), which were struggling to secure loans from traditional banks, especially after the 2008 financial crisis. This innovative form of lending allowed businesses to borrow money directly from individual investors, bypassing the need for banks and other financial intermediaries.

Over time, P2P lending in Ireland has gained significant traction, and more platforms have emerged, such as Lendermarket, Flender, and Property Bridges. These platforms have been facilitating loans for various purposes, including business expansion, working capital, property development, and even personal loans.

Comparison to other countries

In terms of market size, the Irish P2P lending market is relatively small compared to its neighboring countries, such as the UK, which has a well-established and mature P2P lending market. However, the Irish market has been witnessing steady growth in recent years.

Despite its smaller size, the Irish P2P lending market has been experiencing similar trends and challenges as other markets. For instance, there has been a rise in institutional investors participating in P2P lending platforms alongside individual investors. Additionally, the industry has faced some skepticism and concerns over the risks associated with P2P lending, such as borrower defaults and platform failures.

Best foreign platforms for P2P lending in Ireland

The best platforms for P2P lending in Ireland are those that offer the lowest fees and the highest returns. Some of the most popular platforms in Ireland include:

  • Reinvest24: This platform offers crowdfunding opportunities in the rest of Europe. It focuses on providing investors with access to equity investments in real estate projects.
  • AxiaFunder: This platform focuses on litigation crowdfunding and is suitable for investors in Ireland who are looking for a very different kind of platform. It is a great platform for Irish investors who want to invest in different lawsuits.
  • PeerBerry: This platform offers investors a variety of options for P2P lending, including personal, business, and real estate loans. It also provides investors with the opportunity to invest with a buyback guarantee.

These platforms offer investors various options for P2P lending in Ireland. They give investors access to low-cost loans and the potential for higher returns. Investors need to research each platform to determine which one is the best fit for their investment goals.

FAQ about P2P lending for Irish investors:

Utilizing international P2P lending platforms can be beneficial for lenders in Ireland as it expands the pool of potential borrowers and investment opportunities available. This option also has the added advantage of offering more competitive rates and terms compared to domestic lenders. By using European P2P lending platforms, lenders can tap into a diverse and international investor base, which can enhance investment liquidity and decrease the risk associated with certain investments. Overall, leveraging foreign P2P lending platforms can provide Irish lenders with more opportunities and advantages than solely relying on domestic options.

Using a local platform for P2P lending in Ireland has several benefits. It offers easier access to both Irish borrowers and lenders, which is particularly advantageous if you want to support your local community. Moreover, local platforms can provide more customized services to Irish borrowers who are already familiar with the local market, taxes, and regulations. Another advantage is that using a local platform can help lower the costs of transferring funds from foreign lenders, as there may be no need for exchange rate conversions, depending on the currency in which you wish to invest.