European peer-to-peer lending platforms funded €3.3bn (£2.8bn) in loans from January to August this year – more than the GDP of some countries.
According to the World Bank, 30 out of 176 countries in the world had a lower GDP last year.
In a blog on the Robo.cash website, analysts said that the average monthly growth rate of the financed loans volume on European platforms was 9.5 per cent in 2021.
They said there are over 100 platforms in the European P2P market, operating on the consumer and business segment and market as a whole issues loans to individuals and companies in more than 46 countries around the world.
Analysts at the European P2P platform said at the end of August 2021, there were at least 682,000 P2P investors and they receive an average of around 10 per cent in returns each year.
The analysts said the number of investors was calculated based on those that were active and registered on the platforms reviewed.
In September, Robo.cash reached €300m in total funded loans and saw its lender base hit 19,000.