Robocash Group has exceeded its goal of doubling lending volumes this year.
The parent company of European peer-to-peer lending platform Robo.cash said its investors funded $547.3m (£407m) of loans during the first nine months of 2021.
Its loan volumes are up 151.8 per cent annually.
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This helped Robocash Group push its revenue up 172.8 per cent annually to £227.6m in the year to the end of September 2021.
It posted a profit of $19.1m for the period, which it is expecting to increase to between $34m and $35m by the end of this year.
“Alternative lending has been growing rapidly in the emerging markets of south and southeast Asia,” Sergey Sedov, founder of Robocash Group said.
“Rising consumption volumes and the third wave of the pandemic are urging the growing demand for additional funds.
“Therefore, an income gap among the population is still significant. In this sense, our results at Robocash Group to date have only confirmed that.”
Sedov said Robocash Group’s entry into Sri Lanka and launching new credit service in the Philippines aimed to boost financial inclusion across south and south east Asia.
“We will continue expanding our activities to provide access to financing to a broader range of customers,” he added.