The study was conducted on the data from 20,165 women investors and borrowers in P2P lending for the period April 2021 to March 2022
LenDenClub, the country’s leading Peer-to-Peer (P2P) lending platform, released a report on women investors and borrowers on the P2P lending platform. The data further revealed that Mumbai, Bangalore and Hyderabad lead the race in terms of women investing in P2P space.
According to analysis, there has been a whopping 430% rise in women investors in the P2P lending space in the financial year 2022 compared with FY21. Millennial women aged 21-30 years were the most active borrowers, i.e. 56%, and lenders, i.e. 54%. It was followed by the cohort in the age group of 31-40 years that accounted for 37% and 33% in the case of borrowers and lenders, respectively.
Data revealed that most women borrowed from the platform in the month of April 2021, when Covid’s second wave was at its peak. Women also borrowed money for educational purposes indicating that they are career-focused and planning their future effectively by availing credit facilities from P2P lending platforms.
We believe that more awareness about the platform will increase participation from women in tier-1 and tier-2 cities. The easy access to online avenues of financial independence encourages women to make their own financial decisions. India can achieve better financial inclusion with more participation from women.
