Robo.cash sees November rise in inflows

Robo.cash saw its monthly investment volumes rise by €6m (£5.1m) last month, as it readies for a December funding spike.

The European peer-to-peer lending platform reported that €21m was invested in November, up from €15m in October.

Robo.cash investors earned €657,000 last month, according to a blog post on the company’s website, and 696 new investors joined the platform.

The November data comes after Robo.cash revealed that it was preparing for an uplift in lending in December, in line with previous years’ trends.

Robo.cash said last month that its analysis of P2P lending activity over the past six years found that the most active months are December, July and March.

“Investors prefer to start preparing for the next investment year in December, increasing investments and often having material grounds for this in the form of annual bonuses, for example,” said Robo.cash’s analysts.

In October, parent company Robocash Group posted a 127.8 per cent rise in profits for the first nine months of 2022 to $43.5m (£35.6m), while revenues increased by 54 per cent year-on-year to $346.8m.

Loan volumes rose by 61.1 per cent to $881.7m over the period.

Robocash Group said the improved performance was due to “various optimisations in business processes across local markets”, particularly Spain and Kazakhstan.