Robocash specializes in offering a fully automated P2P lending platform. The platform allows to invest in short-term and long-term loans issued by affiliated lenders, with all loans protected by a buyback guarantee. This means if a loan is delayed for more than 30 days, the loan originator must buy back the debt, providing a level of security to investors. Robocash primarily deals with loans in the SME sector and offers various types of loans including business, single payment, car, mortgage, installment, and development loans.
Key numbers
Who can invest?
How it works
- Specialisation: P2P lending
- Maximal observed interest rate: 11.8%
- Average rate: 10.5%
- Minimum investment amount: โฌ10
- Average terms: 18 months
- Currencies supported: โฌ
- Foundation year: 2018
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Instruction:
Getting started with Robocash
First things first, you need to create an account. Once you’re in, youโll set up your profile and verify your identity. Youโll need to be at least 18 years old and have a bank account in the EU or Switzerland.
How to ัreate an account
Sign up: Visit the Robocash website and click on the “Sign Up” button. You’ll need to provide basic information like your name, email address, and a password.
Verify your identity: To invest in Robocash, youโll need to provide a valid government-issued ID and proof of address to comply with KYC regulations.
Set up your profile: Complete your profile by adding your bank account details. This account should be in your name and located within the EU or Switzerland.The investment process
When you invest in Robocash, you’re essentially buying claims on loans issued by loan originators. Hereโs how it works in practice:
Loan issuance: A borrower in Spain applies for a short-term loan through one of Robocash’s loan originators.
Investment allocation: Your โฌ1,000 is divided into smaller amounts and invested in multiple loans, including the loan from Spain. This diversification helps spread the risk.
Earnings: Over the next month, the borrower repays the loan with interest. Your share of the interest is credited to your Robocash account. If the borrower defaults, the buyback guarantee kicks in after 30 days, ensuring you still get your principal and accrued interest.Types of investments
Robocash offers various loans, including short-term, installment, and even buy-now-pay-later loans. Most loans on the platform range from 30 days to 3 years.
Short-term loans: Typically under 90 days, perfect if you want quick returns.
Installment loans: Longer duration, often up to 1 year, providing steady monthly income.
Buy-now-pay-later: Short-term loans for consumers making immediate purchases.Income options
To handle your earnings. You have four choices:
- Balance: Funds return to your balance after loans are closed.
- Reinvest full amount: Both principal and interest are reinvested, maximizing your compound interest.
- Reinvest principal amount: Only your principal is reinvested, and the interest goes to your balance.
- Payout: Withdraw both principal and interest once the loan term ends.
Is Robocash Illegal?
Robocash is not illegal; however, it operates in a regulatory gray area since itโs not fully licensed under financial services regulations. In December 2019, the SEC revoked Robocash’s registration for violating financing company regulations. For you as an investor, this means that Robocash doesn’t offer the same level of protection you might find with more heavily regulated financial institutions. Specifically, your investments arenโt covered by deposit insurance or compensation schemes that protect you in case the platform faces insolvency or financial trouble. Instead, youโll have to rely on Robocashโs internal safeguards, like the 30-day buyback guarantee, to reduce risks.
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