FinTech: European P2P Lending Platform Robo.cash Reports Surge In Loan Offtake

January 6, 2021 | FinTech, News
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The lending platform hit a new milestone in December, having mobilized €200M of loans.

The year 2020 ended with a flourish for European P2P lender Robo.cash. In November, the platform funded € 9.2 million – a monthly record. In December, it chalked up a cumulative lending of € 200 million, the highest total ever. (THE FINTECH TIMES)

Loan offtake takes off in the latter half of 2020

Robo.cash noted in an announcement today that its platform enjoyed rising funding activity since summer. Loans steadily grew on a month on month basis.

In October, the lending fintech mobilized 19% more loans compared to September, while in November loan funding grew 34%.

An ambitious target for 2021

Sergey Sedov, CEO of Robocash Group, said: “Robo.cash fared well in 2020, despite all the challenges. Though we experienced a slowdown in Q2, already in Q3 we began gaining back the momentum.”

“Along with the generally positive trend in P2P lending, we believe that the group’s increased transparency has bolstered the confidence of Robo.cash investors. The platform will pursue ambitious goals in 2021 – we will work towards faster growth, aiming to attract over €10 mln in 2021 alone,” he added.

European P2P lending trends

Robo.cash researchers predict that the volume of loans funded via P2P platforms will recover through 2021. Based on an analysis of the volume of loans mobilized during the past five years, they estimate that the European P2P market could reach € 6.2 billion in 2021.

The researchers said that more people would resort to P2P because traditional banks are tightening their lending requirements. However, P2P loan originators would need to be careful about the quality of the portfolios given that the disposable income of European households is expected to decline by 5.9% and unemployment will grow to 8.3%.

“Both trends present an opportunity for the players with the best risk management strategies to consolidate their market share and deliver higher risk-adjusted returns to investors in the P2P market,” they commented.

Solid growth in loan volume and profitability

Robo.cash is a part of the holding Robocash Group providing financial services in eight countries in Europe and Asia.

The group has reported solid growth in loan volume and profitability during the years 2017 – 2019, as shown below.

Robo.cash is a fully automated P2P platform with a buyback guarantee on investments operating within the European Union and Switzerland.

Related Story:   October, An Alternative Lender To European SMEs, Raises $300M

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