Robo.cash, a peer to peer lender and part of the Robocash Group, is reporting a rapid increase in the percentage of P2P loans financed by Singapore based investors. According to a release, in just 2 months €2.1 million of loans or a 5th of the total volume, have been financed by Singaporean investors.
The Singaporean corporation is Robocash PTE Ltd. and provides a marketplace for commercial loans.
The company adds that given the investor demand which initially offered loans for 12 months only, Robo.cash is expanding its product line on the platform. As of today, Robocash PTE Ltd. allows investing in commercial loans for a period of 90-365 days with an interest rate of 10-11% giving investors more options for diversification.
“When we just launched our P2P platform in 2017, we aimed to provide funding for consumer loans of the affiliated lending companies of Robocash Group. Now, after three years, Robo.cash is changing its format and becoming a strategic tool, which contributes to the growth of its parent company. Given that in the long run, the group plans to expand in South and Southeast Asia, the share of business loans from Singapore on the platform will be increasing,” commented Sergey Sedov, CEO Robocash Group.
Robo.cash is a Croatia-based fully automated P2P platform with a buyback guarantee on investments operating within the European Union and Switzerland. Launched in February 2017, the platform belongs to the financial holding Robocash Group that unites non-bank consumer lending companies in seven markets in Europe and Asia.