Robo.cash funded €15m of loans in April
Robo.cash funded €15m (£12.6m) in loans for the third consecutive month and welcomed 580 new investors in April.
In both March and February 2022, Robo.cash funded the same amount in loans.
The European peer-to-peer lending platform’s lenders earned €469,000 in April and said 580 new lenders joined the platform, 39 per cent more than in March.
Furthermore, its Kazakhstan originator RC Riga Kazakhstan grew its lending volumes through the platform by 71 per cent year-on-year in the first quarter of 2022.
Read more: Robo.cash launches loans in Singapore
The short-term loans lender said it aims to increase its share of the market after seeing a 27 per cent rise in the number of new users from the fourth to first quarter, despite being focused on working with existing and repeat customers.
Meanwhile, Robocash Group, which operates in Asia and owns Robo.cash, hit a record 20 million customer registrations in the first quarter and saw a 81.4 per cent year-on-year rise in lending volumes to reach $266.3m (£224m) of loans issued in the first three months of the year.
Despite this, the group’s profits fell by 80.3 per cent in the first quarter to $1.5m, because of tighter scoring policies in Russia, which made reserves increase.
Read more: Robo.cash launches loans in Singapore