Robo.cash presents loans in Sri Lanka paying 12.5 pc
Croatia-based peer-to-peer lending platform Robo.cash now offers commercial loans that originated in Sri Lanka, through a partnership with its Sri Lankan operations.
Platform users will be able to invest in the loans for a period of three years with a target return of 12.5% per annum, paid monthly.
Robocash Group – the parent company of the Robo.cash platform – owns a company called Rapidlend (PVT) which started operations in Sri Lanka in 2021. Rapidlend offers instant access to payday loans for employed people and selected professionals .
Read more: How European P2P lenders are protecting investors from war in Ukraine
By the end of February, the amount of loans issued in Sri Lanka had reached €708,000 (£594,680).
The company will add its loans to Robo.cash as part of a partnership with RC Riga, a special purpose vehicle that provides financing to Robocash group companies. All funds received from platform investors will be used to develop business in Sri Lanka.
Sri Lanka’s loans will be placed in euros and issued for a period of three years. The new loans will be covered by a 100% buyback guarantee.
Read more: Robo.cash suspends expansion plans to focus on existing business
Read more: Robocash delays lowering interest rates for P2P loans