Croatian P2P lender Robo.cash shared the performance of its instant cash loan originators for the third quarter of 2021.
The Robo.cash team writes in a blog post, dated November 2, 2021, that today they are updating clients on the results of Robo.cash loan originators in the third quarter.
UnaPay continues to “focus on product development and steadily increases revenue since the start of the year,” the report revealed.
Thus, the firm was able to:
- increase the principal issued in the third quarter of 2021 by 270% compared to the second quarter.
- increase the number of registrations for T3 by 74%.
RC Riga Kazakhstan
The initiator from Kazakhstan “demonstrated strong growth in key indicators, confirming its leading position” in the market:
- The principal issued achieved a 29% QoQ growth.
- The number of loans issued grew by 4% during the quarter.
- The average Kazakh loan seeker is 32 years old. 45% of potential borrowers are women.
This year, Spain launched a new product – the first free loan – and “reduced rates for loyal customers”. At present, the changes to the product “undergo a period of unit economy testing, which at an intermediate stage shows positive results both for customers and for the benefit of the company,” said confirmed the report.
Here are the main highlights:
- the customer return rate “at the end of September reached 91.1%, or 8% more than at the end of the second quarter”.
- the average loan amount “was 265 euros”.
- Currently, “the average age of loan applicants is 37, 61% are men.”
RC Riga Singapore
The originator of the Singapore loan “raises funds for the development of the activities of the Robocash group in Asia”. Currently, 61% of loans “funded on the platform are destined for Singapore. Below are some results by product country, ”the report adds.
In the 3rd trimester Indonesia was able to:
- increase the number of registrations by 69% compared to Q2.
- issue 36% more new loans than in the previous quarter.
- the number of registrations in Q3 increased by 29% compared to T2.
- the principal issued achieved a 26% QoQ growth.
- Vietnamese credit applicants are on average 29 years old, while 71% of them are men.
Due to the COVID-19 crisis, India’s volumes have “declined this year, but sales have picked up since mid-June.” Thus, in the third quarter of 2021, the lender “issued 77% more loans than in the previous quarter,” the report notes.
Launch in Sri Lanka
In August, Robocash Group “entered the consumer loan market in Sri Lanka with its new online service Robocash.lk, providing instant financial access,” the announcement confirmed.
By offering innovative solutions to the consumer credit market in Asia, the Group aims to “facilitate the financial inclusion of more than 6 million underbanked people, whose number has increased due to the pandemic”, adds the Robo.cash market update.