Robocash Group Earned 24 Mln USD In 2020, Showing 50% Growth YoY

The international fintech holding Robocash Group has published its financial results for the previous year. The net profit of the group amounted to 24 mln USD, up 50% from 2019 and total assets grew to 94.5 mln USD, increasing by 57%. In 2021, the group plans to double the yearly disbursement volumes, revenue and profit.

Last year, Robocash Group issued 322.5 mln USD worth of loans, 6% more than in 2019. At the same time, its revenue equaled 129.8 mln USD, and the net profit amounted to 23.8 mln USD showing a 50% YoY growth. Total assets increased to 94.5 mln USD, up 57% from 2019, while the retained earnings reached 42.2 mln USD.

The group managed to achieve such results thanks to the proper management and improvement of business processes during the turbulent period. In 2021, the company plans to continue the growing trend doubling the issuance volumes, revenue and net profit.

Sergey Sedov, CEO of Robocash Group commented: “Our growth this year will be driven by the development of existing products and introduction of new ones. Soon, we are going to launch another online lending service in Sri Lanka. We have also built software for online banking, which will be the basis for the launch of a neobank later this year. At the end of 2020, we introduced two new products – a Buy Now, Pay Later service and Salary Loans in the Philippines, which show a huge potential and will contribute a lot to the increase of the group’s disbursement volumes.”

The current trends in the alternative lending market will also facilitate the development of businesses in the sector. This is reasoned by the increased demand for non-banking lending products during the pandemic, as well as the wider use of online services by the population.

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ABOUT 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 alternative 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 12 million customers and provided financing in the amount of 900 million USD.