Homepeer to peer lendingRobo.cash sees investment dip to €15m in July

Robo.cash sees investment dip to €15m in July

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Robo.cash investors channelled €15m (£12.6m) into the platform last month, down from €17m in June.

The European peer-to-peer lending firm said that it attracted 560 new investors last month, and that its investors earned €574,000 over the period.

This compares to €526,000 earned by investors in June, and the same number of new investors joining the platform.

Last month, Robo.cash lowered the interest rates on its short-term loans to “increase the efficiency” of the business.

Interest rates on short-term loans now range between nine and 10 per cent, down from 10 to 11 per cent.

Also last month, Robocash Group – the parent company of Robo.cash – reported 53.6 per cent revenue growth for the first half of 2022 after doubling its issuance volumes.

The group reported a 50 per cent year-on-year rise in originations to $657.8m, and revenues of $214.9m.

However, net profits fell by seven per cent to $13.9m, which was attributed to the ongoing development of a number of e-commerce products in the Philippines.

Read more: European P2P platforms see rising volumes

“For the second half of the year, we plan to focus on improving the profitability of our loan portfolio, and continue scaling our most performing products,” said Sergey Sedov, chief executive of Robocash Group, at the time of the results announcement.

“We value our long-lasting relationships with customers and plan to continue improving our services across all countries of the operation.”

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