Robo.cash, a consumer lender that operates in several European countries as well as Southeast Asia, reports that interest in peer to peer lending in Eastern Europe is increasing.
Company analysts claim that the search activity associated with P2P lending in Europe indicates a relative popularity that is nearly 5 times greater in Western than in Eastern Europe. Additionally, while the interest in this segment in the East has been increasing steadily, interest has remained static in the West. The online lender states that growing volumes of the East European market confirm the indicators as from 2015 to 2017 they increased by 153%.
Robo.cash posits that the main reason popularity is growing in Eastern Europe is that these economies are experiencing more rapid development.
By their count, the top 3 countries by the number of P2P platforms in Europe include the UK (77 platforms), France and Germany (46 platforms in each). The leader among East European countries, Poland, ranks 12th with 15 P2P lending platforms.
Despite the number of platforms in developed countries, the numbers show a positive trend in Eastern Europe over the last 4 years, whereas in the West the search requests remain at the same level, claims Robo.cash This is supported by the fact that the East European market (Poland, Czech Republic, Slovakia, Hungary) has increased considerably from 2015 to 2017 – by 153% from €71 to €179 million. In Southeastern Europe (Romania, Greece, Turkey, Slovenia, Greece, Serbia) it grew by 357.7% from €10 to €45 million during the same period.
Robo.cash adds that during the last six months, the number of Bulgarian investors on the platform has increased by 6.2 times, from 70 to 440. Recently, the country ranked third by this parameter following Germany and Spain.