Peer-to-peer lending websites are struggling to attract UK customers who want to borrow money, despite hundreds of millions of pounds of investment in the sector. Just 7 per cent of 1,100 people said they had used this sort of service to borrow in 2017, according to a survey by consultancy EY. Separate research from Blumberg Capital, a venture capital group, reported only 4 per cent of 1,050 British adults had used alternative lending services in the past 12 months. Since the financial crisis, when tougher regulation forced banks to set aside more capital in case of bad times, hundreds of start-ups have sprung up to offer loans to consumers and small businesses with lower credit scores.

https://www.ft.com/content/a494591a-867a-11e7-bf50-e1c239b45787