Robocash launches loans from Sri Lanka

By Leandra Monteiro

The European investment platform Robo.cash introduces new commercial loans, which will be provided by the company of Robocash Group in Sri Lanka. Now platform users will be able to invest in loans for a period of 3 years at 12.5% with monthly interest payments.

Robocash Group company Rapidlend (PVT) LTD in Sri Lanka started its work in 2021. It provides instant access to payday loans to employed individuals and selected professionals. At the end of February, the amount of issued loans in Sri Lanka reached 708,000 EUR.

The company will be adding loans to Robo.cash as part of a partnership with RC Riga, a special purpose vehicle that provides funding to Robocash Group companies. Funds received from platform investors will be used to develop business in Sri Lanka.

Loans from Sri Lanka will be placed in euros and issued for a period of 3 years. The standard interest rate on them will be 12.5% per annum. The new loans, like all other products, will be covered by a 100% buyback guarantee.

Robo.cash is a Croatia-based fully automated P2P platform with a buyback guarantee on investments operating within the European Union and Switzerland. Launched in February 2017, the platform belongs to the financial holding Robocash Group that unites non-bank consumer lending companies in nine markets of Europe and Asia.