14% for short-term, secured loans is great
The loans volume is currently large enough to prevent the past cash drags
Complete and useful, excepted for the missing XIRR
Robo.cash offers standard buyback terms
The platform could be more polished
English, German, Spanish, Latvian, Russian
Overview of Robo.cash
Robo.cash offers secure, short-term loans with an interest rate of 14%. It took me a while to discover it, and for some reason I initially wasn’t very compelled to invest money there. Maybe the ‘robo’ part reminded me of scams like binary options robot ? Well, anyway, I ended up registering with them and don’t regret it.
Registration process & account funding
Registration is quick and easy, requiring you to only supply very basic informations. Although the only way to fund your account is via a SEPA transfer, it should meet the need of most investors.
Robo.cash currently offers a 14% interest rate for very short-term loans (1 month). As of this writing, it’s probably the best offer in the market for such a short duration ! In October – November 2017, the platform struggled to invest all my funds. Now this cash drag seems to be over, apart from some uninvested cash from time to time. They extended their loan offer in Russia, which greatly increased the available volume.
The buyback guarantee triggers after a delay longer than 30 days. This is standard for most P2P companies.
There’s no secondary market. However, as Robo.cash loans are very short-term it’s not an actual drawback.
It’s not possible to invest manually; use of auto-invest is mandatory.
While the initial auto-invest screen had several rather confusing labels, it’s been redesigned. It is now easier to understand, although there’s still room for improvement.
The website is globally easy to use, but the interface is far from being as streamlined as most competitors.
One minor annoyance is that if you ever want to see a loan agreement, it isn’t displayed in your browser but downloaded as a Word document. Also, the English version isn’t as well translated as some competitors, but is obviously legible enough. Finally, I regret the lack of a FAQ once you’re logged in; it’s actually available from the home page.
It’s rather complete, although no XIRR is currently provided. You can see the amount of interests accrued, the average interest rate.
Because of the cash drag when I started investing in Robo.cash, my current XIRR is currently 12.50%. However as I mentioned earlier the situation has greatly improved and the XIRR is climbing steadily !
Now that they increased the loans volume, Robo.cash is a serious competitor to Swaper thanks to a very high interest rate. I can only hope that it will stay at the current level !
(last update : June 12th, 2018)