Robocash Group makes 16.2 mln USD of profits in 2020
Not long ago we published a report on Robocash Group’s results for H1 of 2020 showing that even in the challenging months the holding managed to make 10.7 mln USD of profits. In Q3, the group was working to improve the already impressive figures.
Thanks to proper management and timely action, we came out of the crisis with improved portfolio quality and performance indicators. In 9 months of 2020, we issued loans worth 217.3 mln USD and reached a record high customer return rate of 72%. During this period, we showed outstanding growth and reached 16.2 mln USD in profit topping the result of the whole 2019 in just 9 months. Meanwhile, the revenue amounted to 83.5 mln USD.
Robocash Group also managed to increase its retained earnings to 39.3 mln USD as of September 30, 2020. For investors, it is a sure sign that the group is financially strong and provides a solid background for the operation of Robo.cash platform. Our anti-crisis strategy and successful experience allows us to be prepared and steady in the face of challenges.
Considering the group’s QoQ performance, in Q3 we managed to increase the disbursement volumes by 34%. The net profit and revenue rose by 53% and 9% respectively.
Robocash Group: the IPO and plans for the future
Seeing the impressive results and active growth of the group this year, we have decided to make some adjustments to our nearest plans.
Earlier, we announced the launch of an IPO at the end of 2020 and considered the Australian Securities Exchange as one of the listing options. Yet, the group's remarkable performance this year has allowed our business to develop independently so far. Given this, we have decided to focus on getting the best valuation for Robocash Group and take extra time to explore more listing venues for this purpose. As a result, we have opted to postpone our IPO until H2 2021. Meanwhile, the pre-IPO fundraising round for the group’s operational business aims is still underway, with 8 mln USD raised so far.
Going forward, Robocash Group has no intention of slowing down. Maintaining our strong position, we are planning to launch a set of new services, as well as enter new markets with a focus on the APAC region. This, combined with the group’s public listing, is shaping 2021 to be an exciting time for Robocash Group.