Singaporean alternative lender Robocash plans to raise $5m via bond issuance

International fintech firm Robocash Group said it’s preparing for a US$5 million bond placement with private debt investment platform Kilde in Singapore.

Robocash founder and CEO Sergey Sedov / Photo credit: Robocash Group

Also based in Singapore, Robocash offers alternative lending services in Asia and Europe. After it started building products for consumer lending and marketplace funding in 2013, the company said it’s now focused on software development for online banking.

Robocash said it will use the new capital to support its growth while it considers another issuance for a larger amount.

“In 2021, we intend to increase the amount of issued loans by scaling our current products, as well as access new markets and expand the product range,” said Sergey Sedov, CEO of Robocash Group. “We are preparing to start an online lending service in Sri-Lanka, and by the end of 2021, we aim to launch our first online bank in Southeast Asia.”

Robocash said it has also been “growing rapidly” since its establishment, increasing its profits every year to reach US$24 million last year.

The company shared that this year, it has crossed US$1 billion worth of issued loans to more than 14 million customers and that it aims to increase its growth rate further.

Correction (May 28, 2021 20:10pm SGT): The article had incorrectly attributed the quote to Radek Jezbera, CEO of Kilde earlier.