European peer to peer lender Robo.cash announced on Monday it now has 10,000 investors on its platform. Founded in 2017, Robo.cash describes itself as a fully automated investment platform operating within an international financial group comprising loan originators from Spain, Russia, Kazakhstan, Indonesia, Vietnam, and India.
“The platform works according to the ‘peer-to-portfolio’ model which involves an opportunity to invest in the loan portfolio of the affiliated lenders with higher returns and a complete buyback guarantee on assets.”
Robo.cash also revealed that since its launch, investors have funded 1.5 million loans totaling €146 million on the platform and their total income has amounted to €1.5 million. Sergey Sedov, CEO of Robocash Group, stated:
“Historically, P2P investments have been more developed in the north-east and central Europe. Yet, based on our statistics, today, we observe a shift towards its other regions. Apart from the growing popularity of P2P throughout Europe, there may be other factors in each case.”
Sedov added:
“Today, investments in P2P are available for any resident of Europe regardless of their experience, level of income and other factors. In the future, we can expect a wider presence of investors from other European countries on our platform as well.”
Robo.cash added it serves users across the EU and Switzerland. The five largest countries by the number of investors are represented by Germany (34.6%), Spain (12.7%), Bulgaria (5.7%), Portugal (5.3%) and Italy (4%). While Germany and Spain have always been the leaders, the rest of the countries in the top 5 previously included Austria, Latvia, the UK, and the Czech Republic.