SINGAPORE - Media
OutReach - 17 February 2020 - According to
the results in 2019, the cumulative volume of consumer financing granted by the
financial holding Robocash
Group since its inception in 2013
exceeded $603 million. The total number of customers reached 9.0 million.
Remarkably, one-third of 4.2 million of new clients that the company served in
2019 alone came from South and Southeast Asia. That was a 267% increase
compared to 2018.
the underserved segment lacking access to traditional financial services,
Robocash Group served 4.2 million of new customers in 2019, by 106% more than a
year before. Almost one-third of that number, i.e. 1.2 million, belongs to the
Asian region that the company has focused on since 2017. Moreover, that was a
267% increase year-over-year. Substantial contribution in this regard was made
by the Indian market where the group started activities at the end of January
2019. In a year, the company served more than 300 thousand Indians. This number
made up 25.7% of the mentioned customer base in Asia in 2019. The Philippines
took first place with 46.4%. Vietnam was third (14.6%) followed by Indonesia
At the same
time, despite such extensive growth, the company observed high customer
retention. In 2019, almost every other client (53.6%) used the services of the
group more than once. What is more, 17.8% applied and got financing three
times, 31.8% - four or more times.
growing demand for the services, there also was a significant increase in the
number of granted advances. As of December 31, 2019, the cumulative amount of
consumer loans provided by companies of Robocash Group since 2013 hit 7.3
million. In 2019 alone, 3.3 million loans were issued, it made up a 45%
cumulative volume of financing provided by companies of the group as of
December 31, 2019, exceeded $600 million. With an increase of 70%
year-over-year, the volume in 2019 amounted to $307 million.
on the results, Sergey Sedov, Founder & CEO of Robocash Group said:
"Alternative lending has rapidly developed in the past years. In particular, it
applies to emerging markets such as South and Southeast Asia. Placing financial
inclusion on a daily agenda has helped countries promote innovations in the
region and see the first results. Still, many more should be done, as the gap
remains enormous. In this sense, our figures at Robocash Group have only
confirmed that. This year, we will continue expanding our activities to provide
access to instant financing solutions to a broader range of customers."
About Robocash Group:
an international financial group operating in the segments of consumer
alternative lending and marketplace funding in Europe and Asia. The company
develops robotic financial services providing micro consumer lending to
customers in Russia, Kazakhstan, Spain, the Philippines, Indonesia, Vietnam and
India and operates the own EU-based p2p investment platform. The group develops
products completely in-house using artificial intelligence, machine learning
and data-driven technologies to provide precise and comprehensive risk
management, comfort and speed for customers and efficiency for business.