Robocash suspends UnaPay loans
Robocash has suspended the placement of new loans from UnaPay on its peer-to-peer lending platform.
All UnaPay loans will be closed by the end of February 2024, and the platform has told investors that they will receive the principal and accrued interest on these loans “in a timely manner”.
UnaPay is a loan originator based in the Philippines which provides buy now, pay later (BNPL) products and credit line loans. It launched in 2020 under the Digido Finance brand.
It provides consumer loans to the value of €820 (£703) with a maturity period of up to 12 months.
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Since 2021, UnaPay loans have been available to investors on the Robocash platform. However, the Croatia-based P2P lender said that since then, the product has undergone a number of changes and now operates under the UnaCash brand.
UnaCash does not currently appear on the platform, but Robocash told investors that this may change in the future, as the product develops further.
Robocash noted that UnaPay’s share in the platform’s portfolio is 0.2 per cent, stating that “its suspension will have no impact on overall loan volumes.”
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UnaFinancial – Robocash’s parent company – is continuing to expand its BNPL presence in the Philippines.
“In 2023, the holding launched point-of-sales loans and is now working on portfolio development,” said a Robocash spokesperson.
“With the service expanding, we will look at integrating it on the platform.”
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