Robo.cash celebrates two years of operation
It has been exactly two years since the launch of the European P2P investment platform Robo.cash. For the time of operation, it has demonstrated steady growth and raised €5.6 million of investments, which allowed to finance 760,000 loans totaling €66 million.
Within the two years of operation, Robo.cash demonstrated steady growth. This is proved by the number of investors joining the platform monthly: in 2017, it was joined by an average of 140 investors a month, while in 2018, this number grew to 270. Currently, there are 5,200 investors on the platform who have invested €5.6 million. The average monthly volume of financed loans increased from €1.8 million in 2017 to €3.2 mln in 2018. As of today, the total amount of funded loans has reached €66 million, and the income of investors has amounted to €600,000.
Since the launch, Robo.cash has integrated 6 loan originators from Russia, Kazakhstan, Spain and the Philippines, which today secure a sufficient amount of loans for investments. Last year, the platform expanded the product range by providing an opportunity to invest in instalment loans, in addition to PDL-loans. The platform also broadened the footprint: now, the opportunity to invest on Robo.cash is available for both the EU residents and the citizens of Switzerland.
“By the end of 2019, Robo.cash intends to attract €10 million, but its development will largely depend on the plans of Robocash Group, to which it belongs. Today, the financial holding is focused on expanding to new markets, in particular, in South and Southeast Asia. Our recent study proved that the region is highly attractive for fintech development. First of all, it is characterized by a high level of Internet penetration. In 2018, it reached 58%, which exceeded the world average. It is also distinguished by the growing mobile connectivity, which amounted to 133-141% in 2018, and low access to banking services. According to estimations, in 2017, 38% of the population didn’t have bank accounts. This opens up many prospects for us,” - said Sergey Sedov, Chief Executive Officer of Robocash Group.
The fully automated P2P-investment platform Robo.cash was launched in Latvia on February 21, 2017. The platform is designed to attract funds to finance loans issued by the lending companies of Robocash Group.