EUROPEAN peer-to-peer platform Robo.cash has lent out €100m (£92.5m), with its volume of funded loans having grown by 74.5 per cent this year to date.
Croatia-based Robo.cash said on Friday that it financed €41.9m of loans in the first seven months of 2019, up from €24m financed during the same period last year.
The amount of loans financed has also grown to 427,390 between the start of this year and the end of July. In comparison, the platform financed 296,430 in the same period of 2018.
Robo.cash also hit a milestone, it said in June, of financing a total of one million loans over its lifetime.
The increase of funded loans could be attributed to the greater awareness and confidence of investors in P2P lending, Robo.cash said, or to growing demand for online loans in different countries, expanding the supply for investment.
“Comparing results of the first seven 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,” said Sergey Sedov, chief executive of Robocash Group.
“Loan originators in Kazakhstan have shown a 30 per cent growth. Certainly, this expands investment opportunities, stimulating the existing users of Robo.cash to invest more and attracting new investors.”
Robo.cash also pointed to numbers from Statista that puts the global volume of P2P consumer lending at $54bn (£44.6bn) in 2018, up from $9bn in 2014.