Robo.cash has funded €100 mln worth of loans
The European P2P platform Robo.cash has financed €100 mln of loans. The platform's data for the first seven months of 2018 and 2019 show an upward trend: this year, the volume of funded loans has grown by 74.5% and amounted to €41.9 mln. Along with other reasons, this can be explained by the increasing demand for online lending, which creates more opportunities for P2P investors.
The volume of loans funded through the European P2P platform Robo.cash has reached €100 mln. According to the statistics of the platform, as of the end of July 2019, investors have financed €41.9 mln, which is 74.5% more compared to €24 mln in the corresponding period last year. Meanwhile, the number of loans funded on Robo.cash has grown from 296,430 for 7 months of 2018 to 427,390 for the same period this year.
As explained by analysts of the company, on the one hand, such a trend can be due to the greater awareness and confidence of investors in P2P lending. On the other hand, the growing demand for online loans in different countries expands the supply for investment. According to Statista, the global volume of P2P consumer lending market has grown from $9 bln in 2014 to $54 bln in 2018.
“The rising popularity of online loans is also confirmed by the data of lending companies represented on the P2P platform Robo.cash. Comparing results of 7 months of 2018 and 2019, the volume of loans issued by the lenders of Robocash Group in the Philippines and Spain has increased significantly - 3.9 and 3.3 times, respectively. Loan originators in Kazakhstan have shown a 30%-growth. Certainly, this expands investment opportunities, stimulating the existing users of Robo.cash to invest more and attracting new investors,” - commented Sergey Sedov, Chief Executive Officer of Robocash Group.