Alternative Financing transaction value in countries worldwide 2018
In Asia, local fin-tech startup firms have been aggressively scaling up their operation to meet the growing demand for non-traditional capital. Major technology firms such as Grab and Go-Jek initiated lending services in the region. Alternative finance permitted Chinese firms to partially circumvent credit barriers, thus enabling a better resource distribution and a higher production level. In other emerging economies such as Brazil and Mexico, they served a similar lending purpose as well as fulfilled payments and remittances requests. In Brazil, the severe banking crisis hampered the region’s growth for more than a decade. Companies such as Geru, Creditas, and GuiaBolso have gained the support of the Brazilian government as they reduced the borrowing costs of the consumers and democratized the lending process.