Robo.cash enjoys record August with €22m lent
Robo.cash has reported that its investors funded €22m (£18.8m)-worth of loans in August – a record for the platform.
This compares to €19m invested in July and €17m in August.
“August came to an end with solid results and important changes,” Robo.cash said in an update on its website. “Investors purchased a record €22m-worth of loans and 500 new users joined the platform, the first increase since the beginning of the summer.”
Read more: Robocash Group posts $4m of profits in first half
The European peer-to-peer lender added 508 new investors to its platform last month, up from 473 in July.
€749,000 was earned by investors in August, according to the update.
Robo.cash also highlighted changes to its loyalty programme, which came into force on 28 August.
As Peer2Peer Finance News previously reported, Robo.cash has revised down the terms of its investor loyalty programme, “to maintain the business health without introducing additional measures to reduce attraction.”
It previously offered an additional interest rate bonus to investors on a tiered basis, with users able to earn a bonus if they had at least €5,000 in their portfolio.
This has now been altered so investors need to have at least €20,000 in their portfolio to earn additional interest.
Read more: Robo.cash debuts new portfolio option