Robo.cash marks the milestone of 1 million funded loans
The number of loans financed through the European P2P platform Robo.cash has reached 1 million. For the first five months of 2019, the platform has shown a 26%-increase in the number of funded loans and a 54%-increase in the amount of new investors, compared to the same period last year.
Since the launch in 2017, the European P2P platform Robo.cash has financed 1 million loans for the total amount of €89 million. It is notable that the number of loans funded through the platform has increased by 26% from 226,400 for the first five months of 2018 to 284,400 for the same period this year.
The growth is also observed in the amount of investors joining Robo.cash. Thus, from January to the end of May 2018, the platform was joined by 1,170 new investors, while this year, this number has amounted to 1,800 for the analogous period. Today, Robo.cash has 6,700 registered users in total.
“Increasing interest of investors in alternative lending is observed against the explosive growth of this market. According to the Cambridge Center for Alternative Finance, the volumes of alternative lending in Europe, except for the UK, grew on average by 82% annually from 2015 to 2017. In the APAC countries excluding China, the average growth amounted to 80%. We can expect a similar trend in the future, as the market is still far from being saturated. The dynamic development of the alternative lending industry attracts investors with its novelty, prospects and relatively high interest rates compared to bank deposits. Therefore, this market is developing to a great extent due to the attraction of funds from private investors,” - commented Sergey Sedov, Chief Executive Officer of Robocash Group.