Interest for P2P loans to gain traction in Europe
The number of Google requests for P2P lending in Europe has been growing steadily in 2021. An analysis of the investment platform Robo.cash showed that Europeans are increasingly interested in P2P loans, with developed countries leading the way.
Spain has one of the highest numbers of Google queries for the period, and every month the amount is growing by an average of 2.1%. At the same time, the concentration of P2P platforms for the business and consumer segment is the highest in the country.
The business lending sector is expanding in Italy. On average, in 2021, Google searches for P2P loans here have been growing by 2.6% per month, which is the highest growth rate of any country analysed.
“After the peak of the COVID-19 pandemic, consumers saw P2P loans as a viable alternative to the banking sector. This is an example of a far-reaching transformation process that will completely reshape the financial services industry”. - platform analysts comment.
The high involvement of Europeans in P2P investments at the beginning of 2021 went on to slow down in the summer. This can be seen from a significant drop in Google searches for "p2p invest" and "crowdlending" in March.
“At the moment there is no unequivocal confirmation of the demand for P2P investments across the entire market. Taking into account the pandemic crisis, investors carefully assess risks and pay particular attention to filling their portfolios. But the expansion of potential borrowers and, accordingly, the growth of their confidence in P2P lending will definitely have a positive effect on investor demand,“ - note the analysts at Robo.cash.