Sri Lankan originator shows quarterly growth of 30%
A month ago, we integrated a product from Sri Lanka into the platform. At the moment the placement of new loans is on hold until the situation in the country stabilizes, but we would like to share the results of the originator for Q1 2022.
- 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.