P2B贷款平台Loan Book Capital目前授权贷款总额达450万欧元，同比增长133.9%。（监管条例规定）授信和非授信投资者均可参与投资。投资者自己选择想要投资的项目。
西班牙最近推出了名为《新企业融资促进法》的新法规（"Ley de Fomento a la Financiacion Empresarial"）。在西班牙,债权人分为授信和非授信投资者两种。私人授信投资者年收入必须超过5万欧，或总资产超过10万欧。公司则需要拥有资产超过100万欧，营业收入超过200万欧或股本超过30万欧。如果投资者不符合以上任何标准，就是非授信投资者，那么投资数额则不能超过每公司3000欧或一年1万欧元。
Comunitae is the largest Spanish P2B lender and has financed €21.2 million to date, with year on year growth of 128.4%, according to the Liberum AltFi Europe Volume Index (LAVICE). Investment is open to anyone over the age of 18 who has a bank account inside the EU. Investments must be at least €50. Investments can be made two ways: either investors select which loans they want to fund or they allow the system to automatically select loans that match their criteria.
Loan Book Capital is a P2B lender and has authorised €4.5 million loans to date, with year on year growth at 133.9% (LAVICE). Investment is open to accredited and non-accredited investors (subject to regulation). Investors choose which loans they want to invest in.
Crowdcube was launched in June 2014 and funnelled €1.24M in the first half of 2015. Investors can choose the companies they want to invest in and there is no minimum investment.
The Spanish market is, in terms of rank, one of the largest European Alternative finance markets: ranking 8th (4th largest GDP). However it is very much in its infancy. The sector is expanding rapidly, with marketplace lending year to date growth at around 100%. Considering all marketplace lending platforms with a cumulative volume of over €1.1M, AltFi data calculates the Spanish sector's cumulative lending volume to be €25.66M - including €9.82M in 2015 year alone. A report by Cambridge University and EY valued the whole AltFi market at €62M for 2014.
A new law was recently introduced in Spain, called "Ley de Fomento a la Financiacion Empresarial". In Spain, creditors are divided into accredited and non-accredited investors. Private accredited investors must have either an income greater than €50,000 per year or assets over €100,000. For companies, they must have assets over €1 million, revenue over €2 million or equity over €300,000. If an investor meets none of these criteria - and is labelled a non-accredited investor - investments are limited to a maximum of €3,000 per company or €10,000 a year.
For companies looking for finance, a maximum of €5 million can be raised as long as exclusively accredited investors are involved and €2 million if non-accredited investors are included. Furthermore, the project is not allowed to raise more than 125% of its initial target.
The new legislation extends to platform regulation. Crowdfunding and marketplace lending platforms are regulated by the CNMV and must have capital of at least €60,000 - or €120,000 for raises over €2 million - or have social responsibility insurance with a minimum coverage of €300,000 for a complaint about damages and €400,000 per year for all complaints.
Only brought in on April 29th 2015, it is hoped that the new rules will reduce market concentration - with 75% of lending estimated to come from banks.
The EY report continues with a breakdown of the alternative finance industry - correct as of publication Feb. 2015 - with each sector given as a proportion of the total 2014 market value (€62M):
Reward-based crowdfunding 57%
P2P Business Lending 22%
Equity-based Crowdfunding 17%
Donation-based Crowdfunding 1.3%
Invoice Trading 1%
Mini-bond Offering 1%