This is our 3rd European alternative finance report since early 2015, investigating the development of crowdfunding, peer-to-peer lending and other alternative finance intermediation across Europe. The theme we selected for this year’s report, Expanding Horizons, reflects some important developments we’ve identified in our analysis of these activities over course of the past year. First, the number of countries in Europe with meaningful alternative finance activity is growing. This year our research team collected data from platforms based in an additional ten European countries and the data-set included representation from an additional four alternative finance models against the previous report. Second, the business models and products offered by platforms are evolving and expanding at a rapid pace. Platforms across the region are focusing on solving systemic operational and procedural challenges by prioritizing research and development strategies in process streamlining and automation. Finally, with the forthcoming promise of harmonized regulation, a greater diversity of activities and engagement from national and pan-European regulators may alleviate persistent barriers to cross-border growth and investment.