Document Type



People-to-People (P2P) lending allows individuals to lend and borrow directly among each other online. Previous research mainly focuses on a single P2P lending marketplace – This paper uses a multiple-case study approach to explore four P2P lending marketplaces. The study provides in-depth explanations on how different P2P lending marketplaces operate in different business models and in different countries. Our study thus extends current understanding about different operation models of P2P lending marketplaces, and suggests how future research should be done to cover more P2P lending platforms. We also contribute to the literature by indicating the interesting research questions originated from the cross-case analysis.