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Robocash Group prepares for stock market float

Robocash Group is reportedly planning a $100m (£80.8m) stock market float on the finish of the 12 months to fund its launch of a digital bank within the Philippines.
The group, which owns European P2P lending platform Robo.cash, initiated a $7.5m pre-initial public providing (IPO) funding spherical this week and can use the proceeds to acquire a digital bank license within the Philippines, in line with the Monetary Evaluate.
It plans to open a neobank referred to as Una Bank within the nation this December.
Learn extra: European P2P lending market set to develop this summer time
Robocash Group was based in Russia in 2013 and has its headquarters in Singapore. It focusses on client lending throughout a number of nations and is reportedly planning to checklist in Australia.
KTM Capital and Foster Stockbroking managed the pre-IPO provide and also will handle the agency’s IPO in direction of the tip of the 12 months.
The group’s founder and chief govt Sergey Sedov owns 97.5 per cent of the enterprise, nonetheless, after the IPO is accomplished efficiently, this will probably be minimize to round 60 to 70 per cent.
Learn extra: Most European P2P traders want client loans
Final 12 months Robocash Group made $223.6m in revenues, up from the earlier monetary 12 months’s $120.2m, and achieved $17.3m in internet revenue after tax.
And for the 2020 monetary 12 months, the group is now reportedly on observe to provide $28.4m in earnings.
On the finish of March Robo.cash reached a milestone of €150m (£135.8m) of loans being financed by way of the platform.

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Yuuma Nakamura

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