The European Р2Р platform Robo.cash has been recently joined by a new loan originator LLP Z-FINANCE which provides short-term private lending in Kazakhstan.
For the users of the platform, it means more opportunities to invest in short-term loans listed in euro with a repayment period up to 30 days and an expected interest rate up to 12% per annum.
LLP Z-FINANCE has been operating in Kazakhstan since July 2018 providing private lending in cash through an offline network of 102 sales branches. The main product is short-term loans up to EUR 470. The company is going to launch an online lending service in the country by the end of 2018. For the time of its work, Z-FINANCE has issued over 55 thousand loans amounted to EUR 3 million in total. Both the lending company Z-FINANCE and the platform Robo.cash operate within the financial holding Robocash Group represented today in 7 countries of Europe and Asia.
“Originally, Kazakhstan is the second country in the group’s footprint and it’s the second largest market which share comprises about 30% within the portfolio of the financial group according to the results of nine months in 2018. By that moment, Robo.cash has been successfully providing loans from our other loan originator in Kazakhstan already. The launch of Z-FINANCE has allowed us to enhance our offer for customers. Previously, we were more focused on the younger generations in the age of up to 30 years. Now, thanks to a wide-spread offline net we are able to tap a mature audience and support financial inclusion in the local market,” — commented Sergey Sedov, Chief Executive Officer of Robocash Group.
The average loan size issued by Z-FINANCE is equivalent to EUR 60. The repayment period is 30 days. Investors of Robo.cash can expect net annual returns of up to 12%. All loans are provided with a buyback guarantee from Z-FINANCE.
Contributed | what does this mean?