Robo.cash celebrates six-year anniversary
Robo.cash is marking six years since it started lending on its platform.
In an update on its website, the European peer-to-peer lending platform said it has enabled investors to make €12m (£10.6m) in returns to date.
The platform also reported that it has purchased €570m-worth of loans and attracted €70m in investments.
Read more: Robo.cash reports growth in average size of P2P portfolios
The platform has attracted more than 30,000 investors from 29 countries and now comprises a team of more than 30 people across more than 10 nationalities.
“Today is not just a platform day, but a day of innovation and teamwork,”said Robo.cash product owner Nadezhda Vlasenko. “By launching Robo.cash, we wanted to contribute to the AI digitization of financial services, making them more convenient and simple.
“And we do this thanks to the team of enthusiasts and of course you. Now we intend to maintain the achieved results and build upon them with your ideas. We plan to improve the onboarding process for new investors, review investment strategies and more. So let’s do this together!”
Earlier this month, the platform announced it would reduce investor returns on its mid-length loans for the second time in two months.
From 8 February 2023, 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 offer returns of 10.5 per cent, down from 11 per cent.
And loans with a term of between 366 and 720 days will pay 11 per cent in interest – also down 0.5 per cent.
Robo.cash has forecast that the average yield rate of P2P fixed income instruments in Europe this year may reach 12.6 per cent, returning to 2017-2018 levels.