Robocash Review Summary
Robocash is an easy-to-use P2P lending platform with a reliable buyback guarantee and stable return of up to 12% per year. The P2P lending site regularly reports about the performance of its portfolio, which improved our experience with Robocash. Our experience with Robocash has been excellent so far.
Key takeaways from our Robocash Review:
- Easy-to-use platform
- 30-day-buyback guarantee
- Backed by a profitable finance group
- Limited diversification
Robocash currently lists loans with an interest of up to 12%, which makes any investment in Robocash very attractive. Sign up now and start earning money.
Ready to invest in Robocash?
What is Robocash?
Robocash is a (peer-to-peer) P2P lending platform registered in Croatia. The platform's primary focus is to fund short-term loans secured by its 30-day buyback guarantee and an annual yield of up to 12%.
Robocash was founded in 2017, and since then, it has paid out more than €11 M to more than 28,000 investors. Is Robocash safe? Please find out more about this platform in our Robocash review.
Pros
- Reliable buyback guarantee
- Backed by a profitable finance group
- Secondary market
- Best performing platform in 2023
Cons
- Manual investments are not supported
- Limited diversification
- Website looks outdated
- Low loan availability
Do you prefer to watch a video? Here is all you need to know about Robocash.
Robocash in Numbers
The difference between Robocash and other P2P platforms is that you can invest in unsecured p2p loans from other markets.
You can invest in loans from Kazakhstan, Spain, Singapore, Sri Lanka, and the Philippines—additionally, Robocash funds loans only from the Robocash Group. The group has reached profits of around $28 M in 2021.
As you can see, the availability of loans is subject to market conditions. Robocash is funding many of its lending companies from its balance sheet. Not every lender under the Robocash Group lists its loans on the Robocash investment platform.
Most of the loan portfolio on the platform consists of loans from Singapore and Kazakhstan.
As part of our Robocash review, we have also recorded a podcast episode with the Chief of Operation in Kazakhstan, in which we covered the lending practices of Robocash in this market.
What's worth mentioning is that Robocash as a platform isn't as big as P2P marketplaces such as Mintos or PeerBerry, which also list short-term personal loans. This does not mean Robocash is not good enough; right the opposite.
The platform is very transparent, and so far, none of the investors have ever lost money on Robocash.
Are you wondering how Robocash compares to PeerBerry? Check out our comparison between Robocash and PeerBerry.
Robocash Referral Code
Many P2P lending platforms offer a sign-up bonus, special promos, or cashback for new investors. Robocash used to provide a 1% cashback bonus during the first 30 days after your registration.
As the company doesn't need to acquire additional investors, Robocash removed the bonus for new investors for the time being. Should the platform introduce a reward for our readers again, we will update this review to reflect the new terms.
There is no need to type in any Robocash Referral Code as the company paused the referral program.
Robocash's Loyalty Bonus
All investors of Robo.cash can earn up to 1.3% in addition to the current rate of 12%. You will receive 0.3%, 0.5%, 0.7%,1%, and 1.3% to the basic interest rate when your total portfolio balance reaches €5,000, €10,000, €15,000, €25,000, and €50,000 accordingly.
Get up to 13% interest on Robocash
New User Requirements
To be able to invest in Robocash, you'll need to meet the following requirements:
- Be over 18 years old
- Have a European bank account in your name
- Reside within Europe
If you don't have a bank account, we suggest opening a free Wise account, which is further explained in our Wise card review. Alternatively, you can also read or N26 review to learn how to use the N26 bank to transfer funds to Robocash.
If you don't have a bank account in euros, your deposit will be exchanged for euros at the current exchange rate. Please ensure you send your money from your EUR account for Robocash to accept.
🧾Does Robocash deduct taxes?
Robocash does not charge taxes on your profits. You can download account statements from your dashboard, which you may submit to the tax authorities where you are a tax resident when you file taxes.
Risk and Returns
When investing in P2P lending, you want to protect your investment. You need to evaluate the ratio between the risks and the returns to do this.
So, let's look at the risks and returns to see if Robocash is the right platform for you.
As with most P2P lending platforms that list microloans, Robocash also offers a buyback guarantee.
Please find out how much interest you will earn based on your deposits with our Robocash calculator.
Robocash's Buyback Guarantee
The buyback guarantee on Robocash is different from many other P2P lending platforms. While platforms like Esketit and PeerBerry offer a 60-day buyback guarantee, Robocash's period is only 30 days.
You don't have to wait two months until the buyback guarantee gets activated to receive your money back.
Another benefit of this feature is that the loan originator pays back the outstanding amount and the interest for the delayed period.
This is exceptional - most loan originators on Mintos don't fork out for both.
This means your money on Robocash is continuously earning interest, even though the borrower is late with its payments.
Robocash Interest Rates
Robocash has also recently updated its product line. The P2P platform now offers interest rates dependent on your investment's loan period.
As of right now, Robocash has increased the interest rates by up to 12% per year.
Is Robocash Safe?
Many P2P investors ask whether their investment on a specific platform is safe.
In 2020, several seemingly legitimate platforms ceased their operations. Investors lost millions of euros. In 2023 there are still scams that you should avoid.
There is no guarantee that this cannot happen with any platform.
However, you can increase the chances of making the right investment decision by conducting due diligence about the platform you plan to invest on.
Let's have a look at our background check of Robocash.
Who Runs the Company?
Sergey Sedov founded the Robocash investment platform. His role as the CEO of the Robocash Group has been recently replaced by Natalya Ischenko, who was promoted from COO.
Natalya has 20 years of experience in the banking and auditing sector.
Ready to get personal with Robocash? Watch our latest P2P talk to understand the Robocash Group better.
Who is the Company's Legal Owner?
Sergey Sedov is the legal owner of seven companies within the Robocash Group, including the Robocash Investment Robot, where you can invest in consumer loans from Robocash's loan originators.
Are There Any Suspicious Terms and Conditions?
We always read through the terms and conditions to decrease the chance of fraudulent behaviors. We look mainly at the following clauses:
- Are the user's funds segregated from the company's funds?
- Does the platform inform the users about changes in T&C in advance?
- Are there any other T&C worth mentioning
Let's look at what we found in Robocash's T&C.
Clause 4.9 - Storage of Your Funds
In section 4.9, Robocash informs you that all your funds are in a bank account separate from Robocash's property. It's also worth noting that you won't earn any interest if you do not invest your funds.
This clause gives you good legal ground if the platform decides to disable withdrawals or introduce limits to withdrawing and depositing funds. However, a dedicated IBAN account like you get on EstateGuru would increase the safety of your funds even more.
Robocash processes your deposits and withdrawals using the 3 S Money payment provider. It's important to note that while Robocash has ties to its operations in Russia, investors' funds don't transact through this country as they are directly transferred to Robocash's headquarters in Singapore.
Clause 14.5 - Amendments
In section 14.5, you learn that Robocash reserves the right to change T&C with prior notice of 60 days.
This is excellent news, as many P2P platforms don't notify users before changing the terms and conditions.
Do Investors Have Access to Individual Loan Agreements?
While most investors ignore the assignment agreements, it gives you excellent legal ground in the worst-case scenario, where the platform goes out of business.
You can download all assignment agreements under My Investments → Investment number. All agreements are available as Microsoft Word Documents rather than PDF files.
Robocash also allows you to download the entire loan book.
Potential Red Flags
We are currently not aware of any red flags.
Learn more about possible red flags in our guide about how to avoid investing in P2P lending scams.
What's our opinion of Robocash?
Our background check of Robocash's management and terms and conditions did not yield many suspicions, which increased our trust in Robocash's investment platform.
We joined Robocash first in 2018 and invested money to test the platform. We were pretty happy with the performance and increased our stake significantly in 2021.
While we encountered some cash drag back in 2019, this issue has been resolved, and there are no reports of investors facing any cash drag in the past two years.
Our portfolio on Robocash is currently more than €15,000, with an annual yield of 11.72%. Please learn more about our exposure on Robocash on our P2P lending portfolio page.
We believe that Robocash is a legit platform. The platform regularly shares the consolidated audited annual report for the Robocash Group, highlighting their lending business's impressive performance and growth in various markets.
Here is a sneak peek into our portfolio on Robocash. We have been investing in the platform without any problems since 2018.
Are you ready to earn passive income on the best-performing platform in 2023?
Robocash's Usability
Robocash is very easy to navigate, and even if you are starting out with P2P lending, you won't have a problem getting around.
Auto Invest
Robocash doesn't allow you to invest manually.
You must deposit your money and set up your Auto Invest before investing in loans.
The minimum investment amount per loan is only €1, which makes it much easier to diversify your portfolio than on platforms like Reinvest24 or Heavy Finance, where the minimum investment is €100 per project.
What you should keep in mind, however, is the availability of loans from individual lenders.
You can define which loans you prefer to invest in your portfolio settings.
Robocash's Auto Invest allows you to define your:
- portfolio size
- minimum and maximum investment amount
- interest rate
- investment period
- loan originator
Our Robocash Auto Invest portfolio allows us to invest in all lending companies that list loans with a loan duration of up to 400 days. We are currently only invested in loans from Singapore. We have also extended our investment term to increase the return of our portfolio on Robocash.
Commercial Loans From Singapore
Experienced investors have likely noticed that Robocash's loans from Singapore are never delayed. The reason for this is the loan type. By investing in Robocash's commercial loans in Singapore, you are investing in Robocash's development in South East Asia. You are lending money directly to Robocash instead of funding borrowers' loans. The cash is partially used to support Robocash's loan book in India and Vietnam and the development of the digital bank in the Philippines.
Liquidity
Liquidity is another factor you probably don't think about, but it's essential.
We never know when there will be a financial downturn or other investment opportunities you're interested in, but we know that you'll want quick access to your capital when these times occur.
Robocash offers a secondary market for all its investments, meaning you can sell your investments and exit the platform within a few days.
Investing on P2P marketplaces or P2P lending site that fund short-term loans make your investments more accessible.
Robocash managed to fulfill the obligation, and there are no reports of investors who had terrible experiences with Robocash's liquidity. You don't need to pay attention to pending payments, suspended lenders, or funds in recovery.
Robocash was also one of the platforms that did not struggle during the COVID-19 outbreak in 2020. The group made over $20 M in profits last year while fulfilling all obligations toward investors. In 2021, the finance group made a profit of $28 M. Even in 2022, the platform still manages to fulfill its commitment to investors despite the economic challenges caused by the conflict in Ukraine.
Robocash's Customer Support
The customer support is quite responsive.
Any queries we've had have been answered within 48 hours. You can get in touch with them via email (support@robo.cash) or give them a call at +385 1344-58-18. You can also fill out their contact form; the team will get back to you as soon as possible.
Even though Robocash is a small P2P platform registered in Croatia, the platform does provide decent support most of the time.
The best way to connect is to use Robocash's Live Chat function directly on the website.
While the loan availability on Robocash is relatively low, it is still one of the market's most reliable P2P lending platforms.
Robocash Alternatives
Robocash is a reliable platform, but investing in June 2023 can be challenging due to the low availability of loans. If you are considering financing a larger amount of money, it's impossible now. Instead, you can explore some Robocash alternatives where you won't suffer from cash drag.
Esketit
If you appreciate the reliability of Robocash, you should look into Esketit, which offers up to 12% interest and a reliable buyback guarantee.
The platform funds loans only from lenders founded by the owners of Esketit, which decreases the risk as the management has complete control over the risk management. Esketit is one of the most popular platforms in June 2023, with better loan availability than Robocash. Learn more about how the platform works in our Esketit review.
Income Marketplace
Income Marketplace is a platform that enables multiple lenders to fund their loans. This increases your diversification which can lower your concentration risk.
Additionally, Income Marketplace lists loans with an interest of up to 15%, higher than what you will earn on Robocash. All the loans are backed by a buyback guarantee, and specific lenders also pledge the loan book as collateral which further decreases your risk.
Learn more about how to earn passive income in our Income Marketplace review.
LANDE
LANDE might be a good fit for you if you want to diversify your investments across various loan types. The platform has an excellent track record in funding agricultural loans from Latvia.
Crops, insurance, and other types of collateral back all your investments. Instead of funding payday loans on Robocash, you are financing loans to farmers who use the money to produce food. Learn more about how to earn a sustainable income of up to 11% per year in our LANDE review.
