Robo.cash reaches €300m in total funded loans
In September, Robo.cash reached €300m (£257.2m) in total funded loans and saw its lender base hit 19,000.
This follows €13.4m of funded loans in August, a 105 per cent year-on-year rise. Robo.cash has said its volumes grew steadily, averaging seven per cent after a slight fall in April and June.
The European peer-to-peer lending platform said since inception lenders have earned more than €66m.
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“The platform received its first €100m of funded loans two years after launch,” said Sergey Sedov, chief executive of Robocash Group.
“After a year and a half, we have passed the €200m mark. Now we are pleased to announce that we have reached a new milestone in less than nine months. These results show that we are moving in the right direction.
“Thus, we follow market trends, integrate new products and bring even better transparency to our investors who are largely involved in these achievements.”
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Robo.cash said a recent product launch has been successfully developing.
The platform launched two new types of loans, buy now, pay later and salary-linked loans in May, placed by the service UnaPay launched by Robocash Group in the Philippines.
Robo.cash said the product has increased the volume of loans financed through the platform by 46 per cent month-on-month since its integration and investors have already funded almost €1.8 of these loans.