Through Robocash, you can invest mostly in very short-term (one month) personal loans, yielding 12% annually. They also offer longer-term loans with a duration of one year, which don’t pay interests monthly.
My opinion on Robocash
After Robocash decreased their interest rates from 14% to 12%, it lost much of its interest. Indeed, many competitors offer higher returns, and often have a much better ergonomics. However, this platform may still appeal to very short-term investors.
Robocash’s pros & cons
- Great interest rates for short-term loans
- Interest rates on medium or longer-term loans aren’t really competitive anymore
- The ergonomics and translations could be improved
- Long-term loans don’t yield interests monthly
Overview of Robocash’s loans
All loans are in Euro. Robocash currently offers a 12% interest rate for very short-term loans (1 month). Since July 2018, they also offer longer-term loans; their duration is up to one year, yielding the same interest rate. Unfortunately, interests for these loans aren’t reimbursed monthly; they get paid back at the loan’s maturity date, at the same time as the principal.
Until November 2018, Robocash’s interest rates used to be 14% annually; lowering them to 12% brought them to the same level as their main competitor Swaper.
In October – November 2017, the platform struggled to invest all my funds; later, in most of 2018, I usually had around 10% of my portfolio which didn’t get invested. In 2019, after they expanded their business in several Asian countries, the loans supply seems to be large enough, and I don’t have idle funds anymore.
There are currently 5 originators available on Robocash; the website provides details about each of them, including the loan agreement.
There used to be more originators, but two of them were removed in 2019. Moreover, in late 2019, the Philippines originator Robocash Finance Corp. was barred from operating, due to a license problem.
The buyback guarantee triggers after a reimbursement is delayed for longer than 30 days. It covers both principal and accrued interests.
Before the introduction of longer-term loans, Robocash didn’t feature a secondary market. Due to the very short loans duration, it wasn’t really a drawback. Now that the platform provides loans longer than one month, it’s possible to sell them on the secondary market.
It’s quite hard to find out how to sell the loans. From the investments list, the loans that can be sold have a checkbox on their left; the chosen color makes it nearly invisible. On the following screenshot, the two first loans are not checked yet, while I selected the two next loans.
Selling your loans on the secondary market is free, and the loans are always sold at face value.
Manual investing at Robocash
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.
It’s possible to configure the auto-invest to buy loans from the secondary market, a feature that most competitors don’t provide.
Website’s ease of use
Robocash’s registration process
Registration is quick and relatively easy, although once again the translations for several labels are a bit weird.
Account funding and funds withdrawal
Although the only way to fund your account is via a SEPA transfer, it should meet the need of most investors.
Website’s design and ergonomics
Robocash‘s 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.
Available languages & translations quality
The quality of the English translation could be greatly improved.
The reporting is rather complete; investors have access to the investments list, the transactions report, as well as several statistics about their portfolio.
The website features a rather expansive FAQ (Frequently Asked Questions) available; in spite of the sometimes weird translation, it’s quite useful.
There’s a contact form available on the website; in addition to this, it’s possible to get in touch with Robocash by e-mail or phone.
Communication from the platform
Apart from notification when transferred money reaches your investor’s account, the platform doesn’t communicate much.
Actual performance of my Robocash portfolio
At the end of December 2019, the XIRR for my Robocash portfolio was 12,02%.
The computed performance is slightly under-evaluated because of the long-term loans which don't yield any interest until the maturity date. Even so, it's rather low for individual loans.
Don't hesitate to read my most recent crowdlending portfolio review for detailed platforms performance comparison as well as historical performance.
Portfolio creation date
I created my Robocash portfolio in September 2017.
Robocash's main competitors
For a detailed comparison of the different p2p-lending marketplaces, check out this article.
Robocash's facts & figures
Number of investors
Loans amount financed
As of January 2020
Who can invest at Robocash
Any person age of 18, who has a bank account in one of the European Union countries, can become an investor on Robocash.
Please note that this review may contain affiliate links. It means that I will earn a commission if you decide to invest after clicking through the link – at no additional cost to you, of course -. Please understand that I have experienced all of these companies, and I recommend them because they are helpful and useful, not because of the commissions I make if you decide to invest through my links.