SocietyOne's $30m of P2P loans the tip of an iceberg

Australia's first peer-to-peer lender, SocietyOne, has revealed the dollar value of loans originated on its platform for the first time – more than $30 million – as investment bank Morgan Stanley tipped lending via P2P platforms in Australia will surge to

SocietyOne, which counts media moguls James Packer and Ryan Stokes, News Corp and Westpac Banking Corp's venture capital fund as shareholders, had seen "rapid growth in loan demand in recent months" said Matt Symons, its chief executive, confirming loans made through the platform exceed $30 million.