Robocash plans new product launches after 152.6pc revenue rise
Robocash Group plans to launch new products in the Philippines and Kenya after more than doubling its revenue during 2021.
The group, which operates European peer-to-peer lending platform Robo.cash, posted $327.9m (£244.9m) in revenue – an increase of 152.6 year-on-year. It issued $797.7m of loans worldwide last year, an annual rise of 147.4 per cent.
The group exceeded its initial yearly goal of doubling loan disbursements and income, reaching about a 2.5 times increase.
Read more: Robo.cash promises new features as it hits five-year milestone
Robocash Group revealed a net profit of $31.8m in 2021 – a 33.6 per cent rise from the previous year.
Sergey Sedov, founder and chief executive of Robocash Group, said the group plans to launch short-term loan products in Kenya and expand its range in the Philippines with the introduction of an online marketplace.
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Read more: Robocash Group exceeds loan volume goals
“This year, Robocash Group continues to aim for better unit economics across all markets of presence, optimising the net profit,” he said in a blog on Robocash Group’s websites.
“Our continued global expansion will include a new short-term loans product launch in Kenya. Additionally, the group’s product line-up in the Philippines will be expanded with an introduction of an online marketplace.”
Robocash Group’s finances for 2021 are being reviewed by Grant Thornton and the audited financial statement is expected to be published in the second quarter of this year.
