Launches lLoans from Sri Lanka

  • Lending
  • 16.03.2022 12:40 pm

The European investment platform introduces new commercial loans, which will be provided by the company of Robocash Group in Sri Lanka. Now platform users will be able to invest in loans for a period of 3 years at 12.5% with monthly interest payments. 

Robocash Group company Rapidlend (PVT) LTD in Sri Lanka started its work in 2021. It provides instant access to payday loans to employed individuals and selected professionals. At the end of February, the amount of issued loans in Sri Lanka reached 708,000 EUR. 

The company will be adding loans to as part of a partnership with RC Riga, a special purpose vehicle that provides funding to Robocash Group companies. Funds received from platform investors will be used to develop business in Sri Lanka. 

Loans from Sri Lanka will be placed in euros and issued for a period of 3 years. The standard interest rate on them will be 12.5% per annum. The new loans, like all other products, will be covered by a 100% buyback guarantee.

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