According to the results of Q3 2021, international fintech holding Robocash Group has issued 547.3 M USD worth of loans. Notably, every fifth loan was issued to the new customers.
The Group has greatly exceeded the initial goal of doubling the disbursement volumes compared to 2020. In the 9 months of 2021 alone, the holding has issued 547.3 M USD worth of loans, up by 151.8% from the same period last year. Comparing the volumes issued for the whole year of 2020, the Group has already outpaced the results by 69.7%.
Due to increased issuance volume, the Group’s revenue for the period has also seen considerable growth at 227.6 M USD, a 172.8% increase. The net profit growth slowed down in Q3 2021, resulting in 19.1 M USD for 9M 2021, though still surpassing the results for the same period last year. Although a significant number of new customers in the group’s key markets does not translate into increased profits this year, it will result in a greater profit gain in 2022. At the same time, the management expects an overall improvement in Q4 2021, achieving the 34-35 M USD net profit for the whole year.
Commenting on the results, Sergey Sedov, Founder & CEO of Robocash Group said: “Alternative lending has been growing rapidly in the emerging markets of South and Southeast Asia. Rising consumption volumes and the third wave of the pandemic are urging the growing demand for additional funds. Therefore, an income gap among the population is still significant. In this sense, our results at Robocash Group to date have only confirmed that. This year’s Robocash Group’s entry into Sri Lanka and launching new credit service in the Philippines aimed to further facilitate the financial inclusion across South and Southeast Asia. We will continue expanding our activities to provide access to financing to a broader range of customers.”
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 providing modern finance solutions for the underserved by the traditional banking system. 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 17 million customers and provided financing in the amount of 1.5 billion USD.
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