Robo.cash welcomes the Philippine loan originator
The European P2P platform Robo.cash has been recently joined by its first lending company in Southeast Asia Robocash Finance Corp. Now users of the platform have an opportunity to invest in the Philippine short-term consumer loans in EUR with an annual return of up to 12%.
The p2p platform Robo.cash and Robocash Finance Corp. both belong to the international financial holding Robocash Group originated in Russia in 2013. Their integration will allow to establish a closer cooperation between the two and will be beneficial for the group on the whole.
Robocash Finance Corp. has been operating in the Philippines since October 2017. It is a SEC-licensed company offering short-term loans to individuals both through an automated online service Robocash.ph and a network of 80 offline sales branches, which the company is planning to increase up to 100 by the end of the year. The total volume of loans issued by the company for the whole period has amounted to 13 000 000 EUR. Since the start of operation Robocash Finance Corp. has become third largest in the group loan portfolio following Russia and Kazakhstan and is aimed at further development.
“We are absolutely sure that the integration of our lending company Robocash Finance Corp. with the investment platform Robo.cash will be of great importance for the group enabling us to expand activities in the Philippines and facilitate financial inclusion for the Filipinos. We are also planning to increase the share of this market in the portfolio by up to 10% this year and up to 15% by the end of 2019. Besides, being a Philippine loan originator, Robocash Finance Corp. provides an opportunity to make private investments in the Asia Pacific region, which is a rare experience at the moment. The region is distinguished for the high Internet penetration and mobile connectivity supported by widespread mobile and online services. Certainly, this integration will facilitate the development of technologies in the market”, — commented Sergey Sedov, Chief Executive Officer of Robocash Group.
The size of loans issued by Robocash Finance Group is up to 25,000 PHP which is equivalent to 73 EUR. The maturity period is from 7 to 30 days. Investors of the Robo.cash platform can expect net annual returns of up to 12% in EUR. All loans are provided with a complete buyback guarantee on investments.