Fintech Lending Market Size, Share, Growth Analysis, By Offering(Business Lending and Consumer Lending), By Business Model(Balance Sheet Lenders, Marketplace Lenders, and Others), By Enterprise Size(Large Enterprises, and Small & Medium-sized Enterprises (SMEs)), By Lending Channel(Online and Offline), By Region - Industry Forecast 2024-2031

Global Fintech Lending Market size was valued at USD 714.29 Billion in 2022 and is poised to grow from USD 910.01 Billion in 2023 to USD 6315.41 Billion by 2031, at a CAGR of 27.4% during the forecast period (2024-2031).

The global market for fintech lending refers to the offering of financial services, through digital platforms. These services, like loans and credit, are separate from conventional banking operations. In the last decade, this market has witnessed considerable growth. It has been reshaped in recent years.

Market innovation has resulted in transforming the way individuals and businesses get funding worldwide. The industry players have provided these two sectors with accessible convenient funding. Traditional methods use up a lot of time and effort. With fintech lending, these issues can be erased and borrowers can apply for loans through mobile apps or online. These factors have influenced market growth.

In order to assess who is creditworthy, fintech lenders use data analytics and Artificial Intelligence (AI). This easy financing technique drives individuals and small businesses to this market. In this market, peer-to-peer (P2P) lending platforms are dominating. These platforms offer individuals the opportunity to lend and borrow money directly from one another with no third-party involvement. This intermediary removal has simplified lending. This also offers better interest rates for borrowers and attractive returns for investors.

The adoption of fintech lending rose in the midst of the COVID-19 pandemic. Firms and individuals sought options with quick and accessible financial help. Even central banks and governments have understood the benefits of this market. Fintech lenders are vital in distributing stimulus funds efficiently.