Key results:
- The share of repeated customers was maintained at 64%.
- The average share of overdue loans throughout Q1 was 15% (FPD 30+), which is an excellent indicator for such a young portfolio.
“Sri Lanka is facing unprecedented challenges in 2022: currency devaluation, daily protests, fuel unavailability. For our part, we aim to cover a larger volume of the short-term market in order to help the people with urgent expenses, which are rapidly growing in the face of current difficulties. In this regard, Rapidlend intends to increase the issued principal, both new and repeated loans”, - comments Fedor Neznamov, CEO of RAPIDLEND (PVT) LTD.
“In Q1 2022, our company issued loans totaling about 700К USD. In Q2 we predict a volume of loans of about 1M USD, followed by a quarterly growth of 25-30%”.
On the Robocash platform, RAPIDLEND (PVT) LTD offers commercial loans in partnership with RC Riga. By investing in commercial loans, investors thereby finance the development of Sri Lankan business.