Peer-to-peer platforms which were founded before 2017 have been better able to weather the Covid crisis, according to a new analysis.
Croatia-based P2P lender Robocash has calculated that more mature European platforms have rebounded at above-market growth rate.
In a further sign that the P2P lending market is recovering post-Covid, Robocash also found that there has been a two per cent increase in monthly financed loans across Europe between August 2020 and August 2021.
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Robocash analysts studied 43 platforms across 16 European countries, and found that the funding volumes on platforms in Belgium, Bulgaria, the Czech Republic, France, Ireland and Croatia have grown by an average of 16 per cent over the past year.
Between August 2020 and August 2021, Belgian platforms saw a sharp decline followed by high growth after the main wave of the coronavirus.
“It is possible that such dynamics happened due to the small volumes and high volatility of these platforms,” said Robocash analysts.
“These platforms easily react to any positive or negative trend in the market, because of which panic could have a strong impact. However, the volumes would return to the previous level as the market recovers.”
Robocash predicted that it is “very likely” that these European P2P platforms will continue to develop “at an outstripping pace” as the Covid economic recovery continues.