Robocash Group published the combined audited financial statements for the group, which owns the P2P platform Robo.cash and the lending companies integrated with the platform. The audit has been carried out by KPMG, covering the group’s results in 2017, 2018 and 2019. It also provides statements of financial position, profit or loss and other comprehensive income, statements of changes in equity and cash flows.
Read the Combined Financial Statements of the Robocash Group 2017-2019
The report covers the Robocash Group activities in Russia, Spain, Vietnam, Indonesia and Philippines. It inclusdes the Robo.cash P2P platform and it’s leagal entities: Robocash PTE LTD, AS Robocash Group, LLC MFO Zaymer and LLC Robofinance and their subsidiaries. All these entities are under common control or joint control of Sergey Sedov for the reporting period.
Operations in Kazakhstan were excluded from this report because Robocash Group does not control the entity.
The highlights of the report:
- $3.5M USD loans were provided in 2019, showing a 59% increase year-over-year;
- The issued principal gained 65% from that of 2018 and amounted to $303M USD;
- Last year, Robocash Group made a revenue of $132.1M USD, which is 62% higher than in 2018;
- Total comprehensive income amounted to $18.8M USD in 2019, gaining 111% from $8.9M USD in the previous year.
- Meanwhile, the volume of retained earnings accumulated to $28.1M USD with a 51% growth year-over-year.
Robo.cash: Covid Impact Update
Over the last few months, Robocash Group has kept stable interest income without significant interruptions in its operations. The Group expects that results in Q4 2020 will grow further and add considerably to the bottom line of combined financials.
The Group plans to launch an online bank project in the Philippines being the largest investment of the group in Q4 2020.
What do you think of Robo.cash?
After closing my position last year, Robo.cash opened new markets, published financial reports and engaged in better communication with investors. I’m considering reopening my account. What is your personal opinion on the future of the platform? Will you decide to invest or avoid it? Why? It will be very interesting to learn your opinion on this topic.
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