Robocash cuts rates for second time in two months
Croatia-based peer-to-peer lending platform Robocash has reduced its rates for the second time in two months in an effort to “stay competitive”.
From 1 March 2022, the platform will offer interest rates ranging from eight per cent to 12 per cent, depending on the loan term chosen.
In January 2022, the platform reduced its rates by up to 1.5 per cent, to between nine per cent and 12.3 per cent.
In a blog post on the company’s website, Robocash said that it had noticed an increasing appetite for P2P investments across Europe, and wants to “stay competitive by increasing our market share”.
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“As a business, we plan to scale our new products and enhance our profitability,” the company said
“Therefore, we consider the reduction in the cost of funding as a financially reasonable measure at this stage, which has a certain impact on the rate decision.
“As for the platform, we look forward to integrating new products as well and, thus, diversifying the offer.”
The platform had previously changed its rates in April and November 2021.
Read more: European P2P lending market set for 20pc growth