The Cambridge Centre for Alternative Finance (CCAF) has published its 4th annual European Alternative Finance report. The publication, entitled “Shifting Paradigms” – completed in partnership with the University of Agder in Norway, tracks the growth of alternative finance across Europe including the UK.
According to CCAF, in 2017 the alternative finance market grew by 36% to € 10.44 billion – dominated by the UK.
Excluding the UK, European online alternative finance industry grew 63% from €2.06 billion to €3.37 billion in 2017
SHIFTING
PARADIGMS
THE 4TH EUROPEAN ALTERNATIVE
FINANCE BENCHMARKING REPORT
TANIA ZIEGLER, ROTEM SHNEOR,
KARSTEN WENZLAFF, ANA ODOROVIĆ,
DANIEL JOHANSON, RUI HAO, LUKAS RYLL
The Cambridge Centre for Alternative Finance (CCAF) is an international and interdisciplinary research centre based at
the University of Cambridge Judge Business School. It is dedicated to the study of innovative instruments, channels,
and systems emerging outside of traditional finance. This includes, among others, crowdfunding, marketplace lending,
alternative credit and investment analytics, alternative payment systems, cryptoasset, distributed ledger technology
(e.g. blockchain) as well as related regulations and regulatory innovations (e.g. sandboxes and RegTech)
Research Team ................................................ 5
Acknowledgements ......................................... 7
Forewords .......................................................13
University of Cambridge .................................13
University of Agder .........................................14
Invesco ..........................................................15
Executive Summary ........................................16
Introduction ....................................................19
Research Rationale & Objectives ...................19
Methodology ..................................................19
Data Sources .......................................................... 19
Data Collection ........................................................20
Quality Control and Data Handling ..........................20
External Contributions of Practitioner Insight Texts . 21
Chapter 1: The Size and Growth of the
Alternative Finance Market Across Europe .. 22
Total Market Volume ...................................... 22
The Geographic Distribution of Platforms and Market
Volumes .................................................................. 24
Alternative Finance Volume per Capita .................... 28
Alternative Finance Volume per Capita v