Robo.cash launches loans in Singapore
Robo.cash has launched loans in Singapore following a “busy” and “challenging” March, in which the European peer-to-peer lending platform surpassed the €400m (£335.6m) funding milestone.
The platform has today introduced three-year loans by RC Riga Singapore at 13 per cent which give monthly interest payments to lenders.
This follows Robo.cash funding €15m worth of loans last month, the same as in February, to exceed €400m since inception.
In March, the P2P lender onboarded 417 new investors, down from 685 the previous month, and its investors earned €489,000, a 15 per cent rise from February.
Last month, the Croatia-based platform started offering commercial loans which have been originated in Sri Lanka, through a partnership with its Sri Lankan operations.
In March, Robo.cash also increased its interest rates to range from 10 to 13 per cent after delaying a planned rate reduction and raised its minimum investment up to €25,000 a month.
Read more: Robo.cash posts 227pc annual growth in investment volumes
Read more: Robo.cash promises new features as it hits five-year milestone
“The past month turned out to be a busy one,” Robo.cash said in a blog on its website.
“The predictable downward trend at the beginning managed to change course to growth…
“From April 1, we launched the Spring Refer a friend campaign. You and your friends will be able to receive an increased bonus under the program.
“We are also pleased to announce that from today on our platform you can invest in three-year loans by RC Riga Singapore at 13 per cent. You will receive monthly interest payments, which can be then reinvested. Check your portfolio settings to generate more profit.”
Last month, Robo.cash said it suspended its expansion plans to focus on its existing businesses and to launch new products following a stellar 2021 in which it increased revenues by 152 per cent and welcomed 9,300 new investors.