Robocash attracts European P2P investments for Singapore
The fintech holding Robocash Group has integrated its in-house P2P lending platform Robo.cash in Europe with its Singaporean company Robocash PTE. LTD. The latter will provide the European P2P investors with an opportunity to invest in the business development of the group in Southeast Asia. Moreover, this is the first opportunity in Europe to invest in Singapore through a P2P lending platform.
Robocash PTE. LTD. is a holding company, which has been active in Singapore since September 2015 supporting the management and servicing of the operating entities of Robocash Group in Southeast Asia. Now, it will be delivering its long-term commercial loans to the European platform Robo.cash to allow its users to invest in the development of the group in the region. Operating within the same financial holding, the companies will collaborate within the partnership with RC Riga. The latter is a special purpose vehicle providing secured financing to the companies of Robocash Group.
Remarkably, that also makes Robo.cash the first P2P lending platform in Europe providing an opportunity to invest in Singapore. Working according to a “peer-to-portfolio” model, the platform provides fully automated investing and collaborates with companies of the financial holding only. Today, Robo.cash has 9,200 registered users. The volume of attracted investments is now over $10.6m. In return, it has provided financing for more than $146m loans.
For the platform, it is not the first integration with an affiliated entity from Southeast Asia. It already cooperates with companies of Robocash Group in the Philippines and Vietnam. However, the Singaporean company will be the first to provide commercial loans for a period of 12 months. Moreover, as Robocash PTE. LTD., Robo.cash and RC Riga all belong to the same financial group, investments of the platform will be secured by the group guarantee and negative pledge of Robocash PTE. LTD. assets.
Commenting on the integration, founder & CEO of Robocash Group added: “Until the launch of the P2P lending platform in Europe, we were bootstrapping our growth at the use of our own funds and retained earnings. In almost three years in operation, Robo.cash has proven its efficiency and become an important financial tool for us. In this sense, the integration of our company in Singapore with the platform is a strategic step forward. As the company provides management and servicing of the group’s business in Southeast Asia, this integration will significantly accelerate our development in the region. Within the next six months, we expect to raise $5m. The attracted funds will not only support the development of our companies, but also facilitate financial inclusion in the region.”