Fintech News | Fintech Zoom

European investors Robocash are interested in investing in Philippine loans

Since the integration with the Philippine loan originator in December 2018, the European P2P platform Robo.cash has funded €2.4 million of Philippine loans. This is the highest volume of financed loans among all loan originators of Robocash Group for the first 3 months after the integration with the P2P platform.
The first loan originator of Robocash Group in Southeast Asia, Robocash Finance Corp. integrated with the P2P platform Robo.cash in December 2018. By March 2019, the platform has funded €2.4 million of loans issued by the lender. This figure shows the most dynamic growth in terms of financed loans compared to other loan originators integrated with Robo.cash. Thus, two years ago, the volume of funded loans issued by one of the largest lenders of the group from Kazakhstan amounted to €2.1 million for the same period.
“These statistics prove the attractiveness of the Philippines to European investors. The country, in its turn, offers big opportunities for investments. Thus, our Philippine loan originator has issued over €24.9 million of loans since the launch in October 2017, which is a big amount for such a short period. The high demand for alternative loans can be explained by low financial inclusion in the country. According to the official data of 2017, it amounted to 34.5%. At the same time, 15.1% of the population had inactive accounts. It means that they lacked credit history and did not have full access to finance, thus remaining underserved by banks.We see a big potential for alternative lending in the Philippines and plan to continue attracting investments for this market,” – commented Sergey Sedov, Chief Executive Officer of Robocash Group.
The P2P platform Robo.cash and Robocash Finance Corp. both belong to the international financial holding Robocash Group. Apart from the Philippine lender, the P2P platform is integrated with five more loan originators of the group from Kazakhstan, Russia and Spain.

ABOUT

Robo.cash is a fully automated P2P-platform with a buyback guarantee on investments operating within the European Union and Switzerland. The investment platform is a part of a financial holding Robocash Group uniting non-bank lending companies in Spain, Russia, Kazakhstan, the Philippines, Indonesia, Vietnam and India. The group is specialized in alternative consumer lending. For the time of its work, the group has issued more than 4 million loans. The staff number is over 1,300 employees. The financial group has been developing in the market since 2013.

Jung Min-seo

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