Robocash Group, the parent company of European peer-to-peer lending platform Robo.cash, is preparing for a £5m bond placement with global private debt investment platform Kilde in Singapore.
The group said it plans to use the proceeds to further its growth. This private bond placement will be the first for the Robocash Group in Singapore. After this initial step, the company may consider another issuance in a larger amount.
The securities, which have a maturity period of three months and a monthly coupon payment frequency, will be available for institutional and accredited investors only.
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“We are glad to approach such an important step,” said Sergey Sedov, chief executive of Robocash Group.
“The proceeds from the issuance will help us to accelerate the business development. In 2021, we intend to increase the amount of issued loans scaling our current products, as well as access new markets and expand the product range.
“In the near future, we are preparing to start an online lending service in Sri Lanka, and by the end of 2021, we aim to launch our first online bank in Southeast Asia.
“Working with an expert team from Kilde was easy, and we hope to have a long-term partnership with them.”
“We are delighted to partner up with such a strong player in the digital lending space,” said Radek Jezbera, co-founder and chief executive of Kilde.
“Robocash Group’s team provided full cooperation in undergoing the due diligence and credit risk assessment, which enabled us to secure attractive terms for the investors.”
Headquartered in Singapore, Robocash Group has been delivering alternative lending services in Asia & Europe since 2013 and has been increasing its profits every year to reach £24m in 2020.