Robocash launches loans from Sri Lanka
By Leandra Monteiro
- credit management
- Digital loan
European investment Platform Robo.cash is introducing new business loans, which will be provided by the Robocash Group company in Sri Lanka. Now, users of the platform will be able to invest in loans with a term of 3 years at 12.5% with monthly interest payments.
Group company Robocash Rapidlend (PVT) LTD in Sri Lanka commenced work in 2021. It provides instant access to payday loans to employed persons and selected professionals. At the end of February, the amount of loans issued in Sri Lanka reached 708,000 EUR.
The company will add loans to Robo.cash as part of a partnership with RC Riga, a special purpose vehicle that provides financing to Robocash Group companies. Funds received from platform investors will be used to develop business in Sri Lanka.
The Sri Lanka loans will be placed in euros and issued for a period of 3 years. The standard interest rate on them will be 12.5% per annum. The new loans, like all other products, will be covered by a 100% buyback guarantee.
Robo.cash is a fully automated P2P platform based in Croatia with a buyback guarantee on investments operating within the European Union and Switzerland. Launched in February 2017, the platform is owned by the financial holding company Robocash Group, which unites non-bank consumer finance companies in nine markets in Europe and Asia.
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