Investment Platform RoboCash Group Comments on Audited Financial Statements

Robocash Group recently commented on their latest audited financial statements for 2021-2022.

Natalya Ischenko, CEO of Robocash Group, also spoke about the platform’s first results for 2023 and “shared the Group’s immediate plans.”

As noted in a blog post by Robo.cash, there were around 30,000 investors in total. And €600 M worth of loans were purchased.

Natalya commented on the situation with the loan volume:

“We are currently considering launching new products in existing and new markets. Our standards require a market analysis, therefore, we have temporarily reduced the amount of funding from the platform. It is expected that the current level of the loan supply will continue for at least the next two months.”

Robocash Group has recently “shared the audited special purpose consolidated financial statements for 2021-2022.”

The new report features Robocash PTE LTD and its subsidiaries located in Central Asia, Europe and Asia Pacific Region. Zaymer RU is “not included in the reporting figures anymore,” Natalya noted.

Key Achievements of Q1 2023

The Group reportedly “received three awards: Top 100 Fastest Growing Companies in Singapore (Straits Times), Top 500 Fastest Growing Companies in APAC (Financial Times) and Best Financial Services Firm 2023 – Eurasia (APAC Insider).”

As mentioned in the announcement, Zaimer Kazakhstan “leads the industry, exceeding the sales target by 123%.” And Digido (the Philippines) sees “a 40% increase in loan volume YoY.”

Sri-Lanka scales loan issuance “by 17% QoQ.”

In 2023, the Group is going “to implement a pool of projects.”

Natalya added:

“These projects are aimed at diversifying our business, improving the technological effectiveness of product scaling and improving the ecosystem of services.”

As clarified in the update, Zaymer “isn’t a part of Robocash Group, even though it used to be included in the combined financial statements.”

Last year, the Group’s management “made a decision that Zaymer will remain working in the local market independently from the holding and its subsidiaries.”

Robocash Group will be “strengthening its footprint in Asia Pacific and expanding in the other regions of the world.”

Zaymer does “not place loans on the platform, so such changes will not affect Robocash investors in any way.”

As noted in the update, SPV is “one of the companies of the Group, but it’s not the whole Group itself.”

The SPV is LLC RC Riga, it’s “one of the companies included in the new financial statements. As it is not a lending company, such things as late loans or default loans are not applicable to it.”

As explained in a blog post by Robo.cash:

“When you invest in one of the RC Riga loan originators, you essentially invest in the business of Robocash Group in the named regions (for example, RC Riga Kazakhstan for the Group’s business in Kazakhstan). We publish updates on the loan originators regularly, and there we disclose some figures and statistics related to each loan originator.”

Investors’ money on Robo.cash are “protected on two levels: the Buyback guarantee and the Group guarantee.”

The Buyback guarantee ensures that you “get your money back even in case the borrower doesn’t return it and is mostly applicable to consumer loans.”

The Group guarantee is “a mechanism that allows the holding to cover the expenses in case one of the loan originators can’t return money to investors for some reason.”

It can also be “applied for the loan originators working in partnership with the SPV RC Riga.”

To ensure that investors get their money back in any situation, the Group’s companies can use its capital “to return the debt to investors.”

When the Group transitions into a public company, detailed financial reports of all Loan originators “will be made available to everyone. Regarding the timing, we plan to do it next year.”

The recently published financial statements “show the total assets of 113 million dollars, and total liabilities of 103 million dollars.”

The statements have been “audited by the Big ten company Grant Thornton, so they are very credible.”

As noted in the update:

“In the short term, the platform’s main focus has switched from bringing investments to the Group to improving the service quality. We’re working on many processes aimed at strengthening the platform’s AML policies, account and funds security, support service, etc. The platform is an important funding source for Robocash Group, so there are no plans to change it in any way. All obligations to investors are and will be fulfilled. In the future, we plan to develop the platform to provide a higher level of service to investors and stay a competitive player in the market.”


Register Now to Attend
Sponsored Links by DQ Promote

 

 

Send this to a friend