P2P lender Robo.cash has financed €100 million in loans, according to a release. Robo.cash says that data for the first seven months of 2018 and 2019 show an upward trend: this year, the volume of funded loans has grown by 74.5% and amounted to €41.9 million. During the same period last year, Robo.cash originated just €24 million in lending.
The number of approved loans during the same period rose from 296,430 in 2018 to 427,390 in 2019. Greater awareness of online lending is on factor Robo.cash points to. Citing Statista, Robo.cash notes that the global volume of online consumer lending has gone from $9 billion in 2014 to $54 billion in 2018.
Sergey Sedov, Chief Executive Officer of Robocash Group, adds that the volume of loans issued by the lenders of Robocash Group in the Philippines and Spain has increased significantly – 3.9 and 3.3 times, respectively.
“Loan originators in Kazakhstan have shown a 30%-growth. Certainly, this expands investment opportunities, stimulating the existing users of Robo.cash to invest more and attracting new investors.”
The online lender currently operates in Spain, Russia, Kazakhstan, the Philippines, Indonesia, Vietnam, and India.