Investing has come higher up the priority list for Robo.cash customers, according to the peer-to-peer lending platform’s latest survey.
The Croatia-based platform, which operates across the EU and Switzerland, polled 400 P2P investors from different European countries in June, asking them about their spending.
The number of respondents who chose investing as their largest expense has doubled since 2019, bringing it up to fourth place in the list.
“The growth in demand for investment and savings is reasonable given the current uncertainty,” said Robo.cash analysts. “As stated by the latest Eurostat report, the household saving rate in the euro area increased by 11 per cent in the first quarter of 2021 compared to the end of 2020. There is no doubt that maintaining stable reserves inspires confidence and helps to be more resilient to economic downturns in the future.”
Investors cited housing costs as their top expense, followed by food and then travelling costs.
The research also found that the overwhelming majority of European investors intend to include a summer holiday in their budget (79 per cent), with 72.2 per cent willing to spend up to $5,000 (£3,602) on their trip.
“There is no doubt that concerns about the global crisis are keeping people from travelling,” Robo.cash said.
“Still, the fact that the majority of respondents plan to invest or have already invested in summer holidays shows that people don’t want to miss the opportunity to take time off, despite the pandemic unpredictability.”
As of 30 June, Robo.cash has attracted over €22m (£18.7m) of investments and funded over €265m worth of loans.
In April it funded €8.8m of loans, attracting 903 investors, a record number of new registrations in a month for the lender.