Autonomous Research estimates the opportunity for digital lenders in Europe to be US$1 trillion at present. The UK addressable market is $260 billion, consisting of $93 billion in credit cards and $169 billion in consumer credit, although this figure ignores the $109 billion student loans market as current 1.5% interest rates on loans appear too low to entice digital lenders. Continental Europe is estimated to be a $500 billion addressable market. Despite this the European digital lending market is in a very early stage of development, issuing just $1 billion in loans in 2015, and consequently Auto loans are outside of the addressable market today.
Small business loans are estimated to be a $51 billion market in the UK and $170 billion in Europe, with platforms such as UK-based FundingCircle being successful across four European countries. Additionally, many of the smaller SMEs in the US may not have access to bank finance and the overall market opportunity could therefore be greater.