British P2P “remains powerful”
The British peer-to-peer lending market “remains a powerful financial segment” according to a new analysis from European P2P platform Robo.cash.
Robo.cash found that audience interest in P2P lending is rising, according to an analysis of GoogleAds statistics. This interest has been stable over the past year, leading Robo.cash analysts to predict that growth is likely in the year ahead.
Earlier this year, Innovate Finance’s 36H Group reported that the UK’s P2P lending market expanded by 120 per cent in 2021. By the end of 2022, the sector is predicted to have grown by 11.8 per cent, year-on-year.
“The British P2P market continues to steadily grow, but is facing significant competition from continental players,” said the Robo.cash analysts.
Read more: Winners announced at the Peer2Peer Finance Awards
“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.”
However, Robo.cash also warned that some negative signals are present in the sector, specifically the decline in attraction volumes.
“The current European socio-economic situation may significantly reduce the activity of British investors,” added Robo.cash.
“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 harbour’.”
Read more: Innovate Finance’s Janine Hirt: We’re in a “new chapter” for P2P lending