Tag: Sergey Sedov

Business World

Robocash Group issued 1 bn USD worth of loans

Mar 16, 2021 by Neel Achary 0 Comments #CEO of Robocash Group, #Robocash Group, #Sergey Sedov

The group notes that the volume of loans has been increasing annually since its inception. There was a particularly strong growth in the last quarter of 2020 and in 2021, which confirms a rising demand for alternative lending.

Since its origination in 2013, Robocash Group has been increasing its disbursement volumes every year. Between 2014 and 2020 the yearly amount of loans issued to customers went up from 48,000 USD to 322.5 mln USD. In 2021, the total sum has reached 1 bn USD.

In Q4 2020, the group observed a particularly rapid growth rate – in this period, it granted 37.5% more loans to borrowers compared to the previous quarter. In the first months of 2021, the growth has continued. If the group maintains the pace, the amount of issued loans in Q1 this year may rise by another 20%.

“Our statistics confirm that there is an increasing demand for alternative lending among the population. In the markets of our operation, many people still lack access to traditional financial services. For example, in Russia, Kazakhstan and Spain, the share of the underserved population varies from 44% to 53%. In Southeast Asia, around 75% of adults are either underbanked or don’t have a bank account, and in India 54% do not have full access to finance. The pandemic resulted in the underconsumption and further restrictions introduced by traditional banks, so people started using non-bank loans more frequently. We are glad to be able to partially satisfy their needs and contribute to the development of financial inclusion across our footprint,” – said Sergey Sedov, CEO of Robocash Group.

In 2021, the group plans to double the yearly disbursement volumes by expanding its product line and developing the existing services.

Business World

Robocash Group earned 24 mln USD in 2020, showing 50% growth YoY

Mar 4, 2021 by Neel Achary 0 Comments #CEO of Robocash Group, #fintech holding Robocash Group, #Sergey Sedov

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.

Business World

Robocash Group launches Buy Now, Pay Later in the Philippines

Dec 22, 2020 by Neel Achary 0 Comments #Chief Executive Officer of Robocash Group, #commerce market in the Philippines, #P2P lending platform in Europe, #pay later, #Sergey Sedov

An international fintech holding Robocash Group has expanded the product line with the launch of its first Buy Now Pay Later service UnaPay in the Philippines.

UnaPay in the PhilippinesApart from the new product, Robocash Group has been providing micro-consumer lending services with a focus on Asia and operating its own P2P lending platform in Europe. The Buy Now, Pay Later will open new opportunities for the group’s customers, offering installment plans for online and offline shoppers in the Philippines.
With UnaPay, users can make purchases on the Lazada e-commerce platform with up to 12 installments due every two weeks. The customers can apply for a virtual credit amount of up to PHP 30,000. Having inherited the ease-of-use and full automation from the existing products of the group, UnaPay provides Filipinos with fast and convenient access to finance. The approval process takes 5 minutes, while the funds are credited to the customers’ Lazada e-wallet within 24 hours. Moving forward, UnaPay plans to increase the number of active merchants, which is expected to reach several hundred by the end of 2021.

Sergey Sedov, Chief Executive Officer of Robocash Group, commented: “We see a big potential in the new product, as there is a high demand for alternative financial services among Filipinos. More than 50 mln people remain unbanked, but many of them need additional funds. For example, our recent survey showed that over 50% of Filipinos borrowed money from family or friends in 2020. At the same time, the Philippines has a significant share of the smartphone (64%) and Internet (70%) users. It means that most of the population has an opportunity to access financial services online to meet their immediate spending needs.”

Although the e-commerce market in the Philippines is at the emerging stage now, it is one of the fastest-growing in Southeast Asia. Between 2015 and 2019 it increased at a CAGR of 26.4%. By 2023, it is expected to reach 7 bn USD.