Robo.cash introduces Sri Lanka loans paying 12.5pc
Croatia-based peer-to-peer lending platform Robo.cash is now offering commercial loans which have been originated in Sri Lanka, through a partnership with its Sri Lankan operations.
Platform users will be able to invest in the loans for a period of three years with a target return of 12.5 per cent per annum, paid monthly.
Robocash Group – the parent company of the Robo.cash platform – owns a company called Rapidlend (PVT) which began operating in Sri Lanka in 2021. Rapidlend provides instant access to payday loans to employed individuals and selected professionals.
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By the end of February, the amount of issued loans in Sri Lanka had reached €708,000 (£594,680).
The company will add its loans to Robo.cash as part of a partnership with RC Riga, a special purpose vehicle that provides funding to Robocash Group companies. All funds received from platform investors will be used to develop business in Sri Lanka.
Loans from Sri Lanka will be placed in euros and issued for a period of three years. The new loans will be covered by a 100 per cent buyback guarantee.
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