Robocash to attract US$5mil P2P investments in Europe for Singapore

  • First P2P lending platform in Europe providing an opportunity to invest in Singapore
  • Has 9,200 registered users; volume of attracted investments is now over US$10.6 million

 

Robocash to attract US$5mil P2P investments in Europe for Singapore

 

ROBOCASH Pte Ltd is a holding company, which has been active in Singapore since September 2015 supporting the management and servicing of the operating entities of Robocash Group in Southeast Asia.

Now, it will be delivering its long-term commercial loans to the European platform Robo.cash to allow its users to invest in the development of the group in the region. Operating within the same financial holding, the companies will collaborate within the partnership with RC Riga.

The latter is a special purpose vehicle providing secured financing to the companies of Robocash Group.

This also makes Robo.cash the first P2P lending platform in Europe providing an opportunity to invest in Singapore. Working according to a “peer-to-portfolio” model, the platform provides fully automated investing and collaborates with companies of the financial holding only.

Today, Robo.cash has 9,200 registered users. The volume of attracted investments is now over US$10.6 million (RM43.87 million). In return, it has provided financing for more than US$146 million (RM604.19 million) loans.

Commenting on the integration, Robocash Group founder and chief executive officer Sergey Sedov said: “Until the launch of the P2P lending platform in Europe, we were bootstrapping our growth at the use of our own funds and retained earnings. In almost three years in operation, Robo.cash has proven its efficiency and become an important financial tool for us.

“In this sense, the integration of our company in Singapore with the platform is a strategic step forward. As the company provides management and servicing of the group’s business in Southeast Asia, this integration will significantly accelerate our development in the region.

“Within the next six months, we plan to raise US$5 million (RM20.69 million). The attracted funds will not only support the development of our companies, but also facilitate financial inclusion in the region.”

For the platform, it is not the first integration with an affiliated entity from Southeast Asia. It already cooperates with companies of Robocash Group in the Philippines and Vietnam.

However, the Singaporean company will be the first to provide commercial loans for a period of 12 months.

Moreover, as Robocash Pte Ltd, Robo.cash and RC Riga all belong to the same financial group, investments of the platform will be secured by the group guarantee and negative pledge of Robocash Pte Ltd assets.

 

Related Stories :

 
 
Keyword(s) :
 
Author Name :
 
Subscribe to SNAP
Download Digerati50 2020-2021 PDF

Digerati50 2020-2021

Get and download a digital copy of Digerati50 2020-2021