Robo.cash investors earned €1.3m in first half of 2022
Robo.cash investors earned €1.3m (£1.1m) during the first six months of 2022, while the amount of purchased loans reached €95.9m.
More than 3,700 new users joined the European peer-to-peer lending platform in the first half of the year.
During a webinar to discuss the platform’s latest financials, Natalya Ischenko (pictured), chief executive of Robo.cash’s parent company Robocash Group, said that the group has been focused on maintaining its average monthly volumes and improving its product.
“We introduced a new onboarding procedure that allowed us to reduce verification time to just a few minutes, and also be more compliant with EU legislation,” Ischenko said.
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“Our strategic goal is to become one of the most convenient P2P platforms.”
Ischenko took over from former chief executive Sergey Sedov earlier this month. During the webcast, she confirmed that Sedov remains in the group as chairman of the board committee.
Robocash Group has also recently appointed a new chief finance officer, a chief investment officer, and several regional directors.
“All these changes are meant to strengthen the group at the scale it has now and give it a better basis for growth and expansion,” Ischenko added.
She also addressed the recent decision to lower Robo.cash investor returns.
“The interest rates reflect the state of business and the supply and demand ratio on the platform,” she said. “Robo.cash as a platform is performing successfully, our portfolio now holds over €57m, and it’s growing steadily.
Read more: Robocash Group reports 53.6pc revenue growth for first half of 2022
“Robocash Group develops confidently and stays profitable through all collisions, which also backs flawless performance of the platform. As any business, we need to stay efficient, and we see now as the right moment to adjust the interest rates.”
The greatest challenge to the platform’s success is “the outcome of geopolitical and economic crises,” Ischenko added.
She confirmed that there are no ongoing transfers between Robocash Group in Singapore and Russian companies, and Robocash does not plan to resume transfers with Russia in the future.
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