Robo.cash funded 15 million euros in loans in April

Robo.cash funded €15m (£12.6m) in loans for the third consecutive month and welcomed 580 new investors in April.

In March and February 2022, Robo.cash funded the same amount in loans.

Lenders on the European peer-to-peer lending platform earned €469,000 in April and said 580 new lenders joined the platform, 39% more than in March.

In addition, its Kazakh originator, RC Riga Kazakhstan, increased its lending volumes through the platform by 71% year-on-year in the first quarter of 2022.

Read more: Robo.cash launches loans in Singapore

The short-term lender said it was aiming to increase its market share after seeing a 27% increase in new users from the fourth to the first quarter, although it is focusing on working with existing customers and regular.

Meanwhile, Robocash Group, which operates in Asia and owns Robo.cash, hit a record 20 million customer registrations in the first quarter and saw an 81.4% year-on-year increase in loan volumes for reach $266.3m (£224m). loans issued during the first three months of the year.

Despite this, the group’s profits fell 80.3% in the first quarter to $1.5 million, due to tighter rating policies in Russia, which caused reserves to increase.

Read more: Robo.cash launches loans in Singapore

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