As always, I would like everyone to know that this is an 100% impartial and unbiased review of RoboCash.
What Is RoboCash?
Based in Latvia, RoboCash is a peer-to-peer lending investment platform that you can invest in pre-funded, very short-term personal loans. The platform was founded in February 2017 and although it’s a young platform by itself, it represents a group of companies with more than 9 years (as of Aug 2019) of experience that issue microloans in Spain, Russia and Kazakhstan, the Philippines, Indonesia and Vietnam. The group has been profitable for a while, which is always a good thing and it can provide a higher level of stability. RoboCash does not have manual investing at all which is good for people who don’t want to search for investment opportunities manually. All loans are listed in EUR and you can start by investing with as little as 10 EUR.
Rates – RoboCash Vs Mintos Vs Swaper
Starting from March 20th 2020, rates on RoboCash are at a fixed 14% for all loans. Also many platforms have increased their returns this period. Mintos has much higher rates than that, Lendermarket also increased their rates from 12 to 14% and they also offer a 2% cashback on top of that. Lendermarket is a great option right now and I believe it is better than RoboCash. She why in my review.
Loan liquidity
RoboCash offers a large number of loans as you can see on the picture above so, it would be unlikely for you to experience cash drag.
Buyback Guarantee
All loans on RoboCash come with a buyback guarantee. RoboCash will buy back loans in full with accrued interest for the period you held the loan if a borrower is over 30 days late. I like the fact that the Buyback Guarantee gets activated only after 30 days since if you want to withdraw your portfolio you will not have to wait for a long period of time since most of the loans are short-term. Most platforms offer a 60-day buyback guarantee so RoboCash has an advantage there.
Auto-invest
RoboCash ONLY gives the option of auto-investing. Manual investing is not possible. This is good for people who don’t want to spend any time managing their investments.
Risks
Since all loans on RoboCash come with Buyback Guarantee the risk is whether the group will be able to fulfill their promise to you although it has been profitable for a while so I wouldn’t expect that to be an issue. For more information about the risks from peer-to-peer lending activities please check the “What Is Peer-to-Peer Lending” article.
Secondary Market
There is no Secondary Market on RoboCash, however, most of the loans are for a very short period of time so if you want to withdraw your funds from the platform you will have to turn auto-invest off and wait for the loans to be paid back or the 30-day buyback guarantee to kick in.
RoboCash Sign Up Process
The sign up process is pretty simple. You can click here and go through the steps on their website. You don’t have to upload any documents until the moment you wish to make a withdraw. The entire process is very simple and it shouldn’t take more than a couple of minutes.
RoboCash Competitors
You might also want to check platforms check platforms like Swaper, Lendermarket, Mintos, Grupeer, Lenndy, PeerBerry, Viventor, FastInvest, ViaInvest, Iuvo and DoFinance. Also, if you want to try something riskier, you can try Bondora (Although their new Go&Grow plan is less risky and has immediate liquidity). I will be reviewing them separately as I invest in some of them. You can click here to check platform reviews.
RoboCash Review – Conclusion
It is very easy to invest with Robocash. If you are looking for an 100% automated platform with solid yields coved with buyback guarantee then RoboCash is a great option for you. The only drawbacks on the platform are the absence of a secondary market and the restriction that you cannot invest manually. You can also check their website here.
For a very similar but in my opinion a better p2p lending platform overall, I would suggest Lendermarket.
If you would like to start investing in RoboCash I would appreciate it if you could use my referral link.
If you would like to add something about RoboCash please leave your comments below.
Until Next Time,
Peter
P2P Income 