European P2P lending market set for 20pc growth
The European peer-to-peer lending market is predicted to grow by at least 20 per cent this year.
Research by Robocash Group, owner of Croatia-based P2P lender Robo.cash, said platforms were attracting new loan volumes and benefiting from increased partnerships.
It highlighted figures from P2PMarketdata.com that shows the European P2P lending market in December 2021 reached a level of €671m (£565.80), up 43 per cent annually.
Read more: Robo.cash posts 227pc annual growth in investment volumes
The analysis suggested platforms could grow by working with new loan originators and by partnering with other sectors such as banks.
“The optimistic scenario for this year is supported by the general development trend of 2021,” Robocash Group said.
“Specialists are betting on the industry going beyond the traditional framework through joint projects with other financial sectors.”
One example of this is Finnish P2P lender Fellow Finance.
It unveiled a buy-now-pay-later offering called Fellow Lasku last year, which gives consumers an option to make an online purchase with a 30-day interest-free invoice or in flexible monthly instalments.
Fellow Finance also merged with Evli Bank in early 2021 and is planning to launch its own banking brand, Fellow Bank, in the first half of this year.
P2P lenders on the continent are now able to operate across borders more easily due to harmonised European Union crowdfunding regulations.