The P2P lending market is growing rapidly: according to forecasts, its annual volumes can reach $898 billion by 2024. Although the low base effect is gradually weakening, and the average global growth rate has reduced from 250% to 30–50% a year, the market is still far from being saturated. Today, we will look into the development of P2P lending and the reasons for such a big interest of borrowers and investors in it.
The fully automated P2P lending platform Robo.cash has summed up the results of its operation in the previous year. For the whole time, the platform has financed €140 million of loans. Out of them, €80 million were funded in 2019. Compared to 2018, it was a double increase in the financing volumes on Robo.cash.
The last decade has become an era of rapid development of financial technologies. According to CB Insights, in 2018, fintech companies attracted $39.57 billion from venture funds, which is 2.2 times more than in the previous year. The total turnover of two leading payment systems, PayPal and Ant Financial has steadily exceeded $100 billion in recent years. Even the ultraconservative investor Warren Buffett admitted that it was a mistake to ignore the opportunities of investing in fintech.
This is confirmed by the results of a survey conducted by the European P2P lending platform Robo.cash. Thus, 25% of European P2P investors mentioned sports and 11.7% - hiking and camping as their hobby.
According to a survey by the platform Robo.cash, 64.9% of the European P2P investors have full confidence in P2P lending. Remarkably, 52.3% of respondents mentioned that P2P loans take a considerable share of their investment portfolio - over 25%.