UK’s P2P Market Is Growing Steadily, But Faces Significant Competition: Report

The British P2P market continues to steadily grow, but is “facing significant competition from continental players,” according to an update from Robo.cash.

Against the background of the local market isolation after Brexit and the departure of a number of major players, the British P2P market “remains a powerful financial segment,” the team at Robo.cash noted.

According to Innovate Finance’s 36H Group, the market “expanded by 120% last year.” In terms of revenue, in 2022 it promises “to grow to $336 M, up 11.8% (YoY).”

Robocash also mentioned that positive market expectations are also “confirmed by audience interest in the P2P lending.” According to GoogleAds statistics, compiled from the Top 100 thematic queries in the UK sector, this interest “has been stable over the past year with prerequisites for growth.”

Robo.cash added that on the other hand, there are also “negative signals.” According to 12 UK platforms with open statistics, attraction volumes “have declined this year.”

Although the sample does not reflect the entire British market, the data from major players is still “indicative.”

The current European socio-economic situation “may significantly reduce the activity of British investors.” It’s also worth noting that continental P2P players are “showing signs of increased activity.”

The market is gradually returning to pre-crisis volumes, “although it is too early to talk about the final stage of recovery.” Nevertheless, the British P2P market “remains large and promising, and it is too early to consider it as a ‘safe harbor,'” Robocash analysts wrote in a blog post.

In another update from Robo.cash, it was noted that new rates will “apply to loans from 91 to 720 days.”

Robo.cash also mentioned:

“Throughout the year, we ensured the smooth platform operation and a stable income for investors. Now we see that the demand has leveled off, the needs of our creditors are being successfully covered and they are performing well. The Group is strengthening its positions in the markets at the expense of its own capital and continues its development course. In this regard, we are changing interest rates for several loan terms.”

You may review the new breakdown from December 21 by checking here.

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