Robo.cash to lower investor returns again

Robo.cash is set to lower investor returns on its mid-length loans for the second time in two months.

From 8 February 2023, the European peer-to-peer lending platform will lower the rates on loans which mature within 91 days to three years. This same cohort of loans last saw their returns reduced on 21 December 2022.

Robo.cash told investors that the reduction will help to make the business self-sustaining.

“Thanks to the management efficiency and commitment to the business priorities, our companies have reached a solid level of development,” said Natalia Ischenko, chief executive of Robocash Group.

“At the moment, there is no need for a large financing from the platform, especially in the first half of this year. However, the launch of new countries and products will increase the Group’s needs for additional funds.

“Seeing this, we have decided to lower rates and temporarily reduce the supply on the platform.  We constantly monitor the market situation, but this is primarily our business decision to contain the cost of attracting funds in the prospects for future growth, as well as short-term profits.

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“In the meantime, the platform team will focus more on improving the service.”

From 8 February, Robo.cash will offer returns of 10 per cent on loans which mature within 91 and 180 days, down from 10.5 per cent previously.

Loans with a term time of between 181 and 365 days will now offer returns of 10.5 per cent, down from 11 per cent previously.

And loans with a term of between 366 and 720 days will pay 11 per cent in interest – down from 11.5 per cent prior.

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