Home Business Robocash Group posts 16 mln USD in 9 months of 2020

Robocash Group posts 16 mln USD in 9 months of 2020

by Inside Out

The group has published the results for January-September 2020. Despite the challenging time, it has improved its portfolio quality and all the performance indicators, by optimizing the core business processes.

In the first 9 months of 2020, Robocash Group issued loans worth 217.3 mln USD and reached a high share of repeated customers – 72%. During the same period, the group earned 16.2 mln USD, which exceeds the net profit for the entire 2019. Meanwhile, its revenue amounted to 83.5 mln USD and retained earnings grew to 39.3 mln USD.

Looking at the group’s performance QoQ, its disbursement volumes grew by 34.4% in Q3, while the net profit and revenue increased by 52.8% and 9.1% respectively.

Seeing the impressive results and active growth this year, the group’s management has decided to make adjustments to the nearest plans. Sergey Sedov, Chief Executive Officer of Robocash Group, commented: “Earlier, we announced the launch of an IPO at the end of 2020 and considered the Australian Securities Exchange as one of the listing options. Yet, our remarkable performance this year has allowed us to develop independently so far. With this in mind, we have decided to focus on getting the best valuation and take extra time to explore more listing venues for this purpose. As a result, we have opted to postpone our IPO until H2 2021. Meanwhile, the pre-IPO fundraising round for the group’s operational business aims is underway, with 8 mln USD raised so far”.

Going forward, Robocash Group has no intention of slowing down. Maintaining its strong position, it is planning to launch a set of new services, as well as enter new markets with a focus on the APAC region.

Robocash Group is a group of companies, which provides fintech services in Asia and Europe. Founded by entrepreneur Sergey Sedov in 2013, the group focuses on micro-consumer lending and marketplace funding. All products of the group are built 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. For the time of operation, the group has gained more than 11 million customers and provided financing in the amount of 800 million USD.

You may also like