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Russian Crowdfunding Market Grew by 34% during 2018
26.03.2019 23:51
Russian Crowdfunding Market Grew by 34% during 2018

Russian crowdfunding market grew by 34% during 2018, exceeding the amount of 15.2 billion roubles. The Central Bank representatives think that the definition of crowdfunding includes funding raised by companies or individuals with the use of Internet platforms.

      In 2018, the market grew mainly due to an increase in the segment of small and medium business loans, which accounted for 96% of all funds raised. At the same time, the share of overdue debt also grew: in 2017 it made up 9.6%, whereas as of January 1, 2019, the share already grew up to 14.6%.

      The Central Bank, however, notes that “the regulator does not observe any tendency of a significant increase in overdue debts in the segment of financing small and medium business”. Market members point out that the growth of the overdue debts is associated with the development of the segment: new sites appear - these have not yet had time to gain experience, besides, new types of loans also emerge.

      Read More Articles about Russian Business

Author: Anna Dorozhkina

Tags: Russian business Russian banks Russian companies   

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