The latest news about the platform Robocash and its results
A month ago, the European P2P platform Robo.cash announced that the number of its investors reached 10,000. In March, it achieved a new milestone - the volume of loans financed through the platform increased to €150 million in total.
As today, most countries of the world have been exposed to the COVID-19 pandemic, this has led to uncertainties in the economy and raised many questions among investors. Given this, we would like to address the situation and provide an update on what impact it is having on our business.
While financial markets are experiencing instability due to the coronavirus epidemic, it seems that European P2P investors have not been affected by the situation. According to a poll of the P2P platform Robo.cash, 76.4% of them continue investing as before, without making any changes to their portfolios.
From today, we are increasing interest rates for investors to 14% for all products on Robo.cash - both consumer and commercial loans of any maturity. All the current available loans will be offered with the new interest rate as well. We recommend our investors to update portfolio settings accordingly.
The extended product line from Singaporean company Robocash PTE Ltd. announced in February is already available on our platform! Now, investors can choose different types of commercial loans from this loan originator to invest in: with the maturity of 90 days at 10%, 180 days at 10.5% and 365 days at 11%!
A recent survey conducted by the P2P platform Robo.cash among European P2P investors has shown that transparency plays a key role for them. Thus, 40.7% of respondents said that they rely on this criterion when choosing a P2P platform for investing.
Due to recent changes in the legislation of Kazakhstan concerning microfinance activity, Robocash Group suspends operations of the loan originator LLP Z-Finance. From now on, lending services of the group in the country will be provided by LLP MFI Tez Finance.
Two months ago, investors of the P2P platform Robo.cash got an opportunity to invest in the offer of a Singaporean company of Robocash Group. During this time, they have funded 2.1 mln EUR of its loans, which is just over a fifth of the total investment volume on Robo.cash.
In February, the number of registered investors on the European P2P platform Robo.cash reached 10,000. Remarkably, last year the geographical distribution of its users changed significantly, due to a large influx of investors from Bulgaria, Spain, Italy and Portugal.
We are happy to announce the changes in the product line on Robo.cash! The loan originator from Singapore, Robocash PTE Ltd. has updated its offer of commercial loans. The products will be introduced on the platform gradually starting from February, 2020.