A total of 26,123 investors were registered with peer-to-peer lending services in the year to 30 June 2018, up 25.9% from the 20,744 registered in the previous year, a Financial Markets Authority report on peer-to-peer lending and crowdfunding says.

The industry is required to submit an annual information return each year and the report uses the resulting data to provide a snapshot of the sector.

In 2017/18 there were 8 service providers, with a total value of outstanding loans of $489.268 million. This was up from 7 service providers in 2016/17 with a total value of outstanding loans of $312.074 million.

The biggest player was Harmony, with $317,724,194 of outstanding loans in 2017/18, up from $238,666,572 in 2016/17. This was well ahead of the next biggest, Southern Cross ($105,230,007 of outstanding loans in 2017/18).

In 2017/18 a total of 6,647 of new loans were made to individuals and 137 to businesses (excluding refinancing) and there were 19,359 outstanding loans to individuals and 220 to businesses. A total of 949 outstanding loans were in arrears, valued at $26,241,611 - meaning 4.8% of outstanding loans were in arrears.

In the 2017/18 year there were 8 licensed crowdfunders, although two licences are suspended. During the year 6,077 licensed service investors invested for the first time, and 7,172 licensed service investors invested through the service.

There were 32 offers in 2017/18, with 28 successful and 97 issuers were declined.