Robocash says India and Indonesia restart possible for next year
Robocash Group said it is possible that it will restart offering products in India and Indonesia next year.
In an update on its subsidiary RC Riga Singapore, the alternative lending group said it is looking for new products in the two countries, that will be of interest to both borrowers and investors.
It added that it is now focusing on penetrating the Philippines market further as demand is growing fastest in that country.
Read more: Robo.cash suspends expansion plans to focus on existing business
“By investing in RC Riga Singapore, Robocash users support implementing various strategic opportunities for the holding,” said Sergey Sedov, chief executive of Robocash Group.
“For example, now UnaCash’s parent company is diversifying its product line to enter the healthcare space. We see great potential in expanding the consumer lending market beyond just providing personal loans, and we are very pleased that our platform investors are also taking part in this.”
The group noted that 78 per cent of loans funded on the platform are for RC Riga Singapore, 17 per cent more than in the fourth quarter of last year. In Vietnam, loans issued in the first five months of the year increased by 125 per cent year-on-year.
Back in April, Robo.cash launched three-year loans in Singapore by RC Riga at 13 per cent, giving monthly interest payments to lenders.
Read more: Robo.cash launches loans in Singapore
Read more: Robo.cash rebounds after March dip