Robocash Group, a Singapore-headquartered B2C alternative lending company, has said that it is planning to raise US$5 million via bond placement from Kilde, a global private debt investment platform.
“The proceeds from the issuance will help us to accelerate the business development. In 2021, we intend to increase the number of issued loans scaling our current products, as well as access new markets and expand the product range,” said Sergey Sedov, CEO of Robocash Group.
“In the near future, 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. Working with an expert team from Kilde was easy, and we hope to have a long-term partnership with them,” he added.
Robocash Group was launched in 2013. Since then, it has been delivering alternative lending services in Asia and Europe. Currently, the company also focuses on the development of software for online banking.
In 2021, it claims to have crossed the milestone of US$1 billion worth of issued loans and now aims to increase the growth pace.
Most recently, the company introduced “buy now, pay later” and “salary loan” services in the Philippines.
This bond private placement will be the first for Robocash Group in Singapore. After this initial step, the company has said that it may consider another issuance in a larger amount.
“We are delighted to partner up with such a strong player in the digital lending space. Robocash Group’s team provided full cooperation in undergoing the due diligence and credit risk assessment, which enabled us to secure attractive terms for the investors,” Radek Jezbera, co-founder of Kilde, added.
Image Credit: Robocash Group Facebook
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