Automated peer to peer platform Robo.cash has issued a note saying Russian microfinance company MFC Zaymer is joining their platform. The company operates Zaymer.ru that offers short-term (payday) loans with interest rates for investors of 14% in Euros and up to 18% for loans originated in Rubles.
Robo.cash is part of a financial holding AS Robocash Group, a company that unites various non-bank lending platforms – now including Zaymer.
Robo.cash says that MFC Zaymer has been active in Russia since 2013. Zaymer’s results for the first six months in 2018 indicate the company is among the TOP-3 alternative lenders in the country. Robo.cash says Zaymer has issued 2.5 million loans amounting to € 140 million as of the end of October 2018.
The average loan size issued by Zaymer.ru is equivalent to € 60 with an average maturity of 18 days. Investors of the platform. All loans are secured with a buy-back guarantee which comes in force the day after a delay or extension of repayment.
“Certainly, the integration of the Russian online lending service Zaymer.ru with the European investment platform Robo.cash is an important milestone for the development of the entire financial group which portfolio has comprised nine fintech products already. The success of the lending service Zaymer.ru in Russia provided a strong foundation for a dynamic expansion into the European and Asian markets. Until now, the Russian lending service was financed from the own assets. In that sense, attracted investments will allow us to scale up business further, enhance implemented technologies and develop new products,” said Sergey Sedov, CEO of Robocash Group.
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