Robocash funded €8.8m in loans last month
European peer-to-peer lending platform Robocash funded €8.8m (£7.6m) in loans in April, attracting 903 investors, a record number of new registrations in a month for the lender.
The amount earned by investors rose by 10 per cent and totalled to €169,000.
During March, Robocash received €1.6m of investment and saw its net deposits grow by 46 per cent quarter-on-quarter in the first three months of 2021. The number of new investors in the first quarter of the year increased by 139 per cent quarter-on-quarter.
An analysis from the platform has revealed that the popularity of P2P lending investments in Europe is outpacing the actual growth of the market, shown by the number of search requests for P2P investments in March 2021 rising by 83 per cent compared to August 2020.
By comparison, the volumes of the European P2P market grew by only 63 per cent over the same period. Following an analysis of search queries in 10 European countries, Robocash concluded that the European P2P market is about to enter a period of acceleration.
Robocash, which hit the €200m lending milestone in January, found through a separate study that P2P consumer loans, cryptocurrencies and gold will perform better than other popular assets in 2021.
During 2020, the platform generated a revenue of $130.9m (£94.1m) and delivered a net profit of $24m, up 50.9 per cent year-on-year.