Robo.cash reaches € 300 million in total funded loans
In September, Robo.cash reached â¬ 300million (Â£ 257.2million) in total funded loans and saw its lender base grow to 19,000.
This follows â¬ 13.4 million in loans funded in August, an increase of 105% year-on-year. Robo.cash said its volumes were growing steadily, averaging 7% after declining slightly in April and June.
The European peer-to-peer lending platform said that since its inception, lenders have earned more than â¬ 66 million.
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âThe platform received its first 100 million euros in financed loans two years after its launch,â said Sergey Sedov, CEO of the Robocash group.
âAfter a year and a half, we have passed the â¬ 200 million mark. We are now happy to announce that we have reached a new milestone in less than nine months. These results show that we are moving in the right direction.
âThus, we follow market trends, integrate new products and bring even more transparency to our investors who are largely involved in these achievements.
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Robo.cash said that a recent product launch has grown successfully.
In May, the platform launched two new types of loans, buy now, pay later and salary-linked loans, placed by the UnaPay service launched by Robocash Group in the Philippines.
Robo.cash said the product has increased the volume of loans funded through the platform by 46% month-on-month since its integration and that investors have already funded nearly â¬ 1.8 of those loans.