Robocash had its first anniversary on February 21st. I knew that I was one of the first five investors, but I could not remember if I really invested on the launch day. A glimpse on my account statement revealed that I funded my account on the first day, but my first investment was one day later. I guess this delay was caused due to my greed as I waited for the 17 percenters, which were announced but never showed up. So I decided one day later to go with the 14 percenters, which is a great interest rate for lenders.
A lot has happened during the first year
Checking my account value showed me 1’144.40 Euro (although 1’360 were invested and 84.4 accrued interest). As I did not change a thing after my deposit of EUR 1’000, the yield calculation is really easy this time 1’144.40 / 1000 = 14.44%, so I do not need to calculate XIRR today ;). I find this yield very interesting, as if I assume that 14% is the monthly yield and I take compounding interest in to account, I could possibly go as high as 14.93% (theoretically). No lamenting, 14.44 percent is great (although I cannot factor the risk), even more as I had no business to do the whole year at all. I just asked myself where the difference comes from. It is explainable with a cash drag which occured somewhere down the road. I just let the money there and just checked irregularly if it was reinvest. There was a period of about 2 weeks were nothing was invested at all plus some weeks where I had some cash leftover on my account. As I see now this cost me 0.49 percent in yield (ok, this is not accurate as robocash loans have durations of less then 30 days – if no buyback event occurs – so my theoretical yield could be slightly higher then 14.93%. But hey, I let this be, as my actual real world yield is sensational with 14.44 percent ;)).
Robocash did improve their settings, but the surface looks not very different, which is nice I think.
The story of 10k Euro max investment
The deposit limit has been set to 10k Euro per investor. Pay in more was refused. Now it looks like this is a yearly limit, so every investor should be able to double his stake after one year of investing. So the max amount is now 20k, if you invested 10k for one year. Your remaining deposit limit is shown if you click add funds in your dashboard. In my case the number is not correct though… But you should be able to double your holding.
If there comes more money from exsting investors, could this lead to loan shortages? Theoretically yes, but practically I doubt it. If we look at the numbers: 1’800 investors invested 3 milions of Euros, equals 1’667 Euro per investor. Further I believe the 3 milion investments content reinvestments made. So my guess is that the average investment amount is lower. So I conclude that existing investors topping up their account will have limited impact on loan supply. But in the end, I do not know it 😉
Robocash yielded greatly without me intervening once. This is passive investing at its best. No surprise I had robocash in my top 10 on a top seed.. Let us hope that the loan supply will be increased so that all investors get their funds invested. Further I hope that the first thousand investors will get some special promo as it was promised to us.