Robo.cash doubles funding volumes in 2019
The fully automated P2P lending platform Robo.cash has summed up the results of its operation in the previous year. For the whole time, the platform has financed €140 million of loans. Out of them, €80 million were funded in 2019. Compared to 2018, it was a double increase in the financing volumes on Robo.cash.
The amount of attracted investments on the platform increased twice as well: last year, Robo.cash raised €4.7 million, in comparison with €2.3 million in 2018. Investors' income grew 2.2 times from €394,000 to €872,000. The number of new users amounted to 4,673 - 1.5 times more than in 2018. In overall, as of December 31, 2019, Robo.cash raised €9.6 million and attracted 9,473 investors. Their total income equaled €1,406,000.
It is important to add that in 2019, the platform expanded investment opportunities by adding loan originators from Vietnam and Singapore. The Singaporean company also introduced a new product - commercial loans aimed to support the business development of Robocash Group, which owns the P2P platform Robo.cash and lending companies in Europe and Asia.
Sergey Sedov, CEO of Robocash Group, said: “The funding volumes on Robo.cash grew fast due to the combination of factors. Certainly, one of them was the increased volumes of our lending companies. Still, the most important thing was the growing loyalty of the current users and the influx of new investors. Our recent data based on a survey among the users of Robo.cash show that 90.4% of them are generally satisfied with the platform, and 89.5% would more likely recommend it to others. This year, we will work to increase the positive experience among the users by making improvements on the platform and creating more investment opportunities. We expect that by the end of 2020, the volume of attracted funds on Robo.cash will reach €17 mln.”