Robo.cash marks the milestone of €40 million funded loans
The European p2p platform Robo.cash marks its results in six months of 2018 and highlights a significant milestone of €4 million attracted investments that facilitated funding of half a million loans which total size amounted to over €40 million. The gained results are believed to directly correlate with the growing interest in the alternative finance market.
The European p2p platform Robo.cash, which offers automated investments in the portfolio of the lending companies it operates with within the single financial group marked the results of its work in the first six months in 2018. There was €1.5 million attracted with an increase of 35% YoY in H1 2018, and the total volume of funds raised since the launch of the platform has exceeded €4 million.
The European are getting more and more interested in investments with a higher return due to stagnating interest rates on bank deposits. Young generations are increasingly using p2p platforms as an additional tool to build prosperity which is confirmed by own data of Robo.cash. The majority of investors who joined the platform in H1 2018 were represented by the age group of 18-39 years old - 67.3% (H1 2017 - 54.5%) with a smaller number in the age of 40-59 years - 30.1% (H1 2017 - 41.0%) and older 60 - 2.6% (H1 2017 - 4.5%). According to the results of June 2018, there were 2,963 registered users on the platform in total, while the share of investors no older than 39 years amounted to 64%.
With regard to loans funded through the platform Robo.cash, investors financed €21.3 million and earned €214,000 in H1 2018. In total, more than half a million loans have been financed which comprised €41.4 million and resulted in €350,000 of return paid to investors. Such a turnover of funds can be explained by a short term of loans provided by the lending companies which is 20 days on average.
“Results of Robo.cash directly reflect the success of our lending companies in Spain and Kazakhstan which both demonstrate a strong growth in their markets that could have been nearly impossible without marketplace funding. There is an obvious positive outcome for business but we believe that today's p2p lending brings much more advantages to the society providing the opportunity to have a better financial inclusion for the underserved people and to meet needs on a higher return on investments”, comments Sergey Sedov, Founder of the platform Robo.cash.