One year Robocash with 14.44% yield

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.

Join the P2PHeroletter

A lot has happened during the first year

Checking my account value showed me 1’144.40 Eurorobocash robot (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 😉

Conclusion

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.

Robocash – an update after more then 4 months

In February 2017 the www.robo.cash platform was launched. I joined robocash when they started and can consider myself in the midst of the first five investors. A lot has happened during the last months. Robocash was able to announce that more then 1  million Euro of investors money has been raised so far and more then 2 millions of loans were financed. This means that a lot of investors reinvest their capital and interest. In the meantime robocash counts more then 500 investors, what gives an average investment per investor from approximately 2’000 Euros.  Further the platform joined the Lavtivan Alternative Financial Services Association. Mintos, Twino, Viventor and many more are also members. The goal of the association is mainly to further develop the p2p lending industry, of course there are other goals as well.


10’000 Euro Limit

The above average investment might seem somewhat low, but we should put this amount into relation. Firstly, the platform is still young and operative for not much more then 4 months, so I guess some investors just went in with lower amounts for testing purposes, which is perfectly fine. Secondly the platform itself imposed a limit of EUR 10k per Investor. This means you cannot deposit more then 10k, but can invest more then 10k, as you can reinvest your interest. Interest is excluded from this rule, but you can’t deposit one Euro more then 10k, the 1 Euro would be returned. Example: You deposit 10k and after one month you got 120 Euro interest, now you can invest 10’120.- but not pay in any more. The platform justifies this as they still want to gain experience before lifting the limit. I like this decision as I guess other platforms would have just collected what would have been available without knowing if they really need so much capital. This might result in investors funds sitting on the account without beeing invested. I guess the wanted to prevent such a situation, which is favorable for investors. These are just assumptions in the end, but I believe they are true. What I definetly can say is that robocash considered lifting the limitation in May and June, but to date it still persists at 10k.

Loyaltyscheme for the first 1k investors

During launch robocash had announced that the first 1k investors will be added to a loyalty scheme. Terms have yet to be defined but these investors should get more then 14 percent interest on their investments. No worries, there is still time to be one of the first thousand, as per yesterday (28th June) evening 19.00 o’clock there were 514 investors registered. So you can still be part of the loyalty scheme register here directly (click on start investing).

Bugs are good and they want to get better

As anticipated I spotted some bugs here and there and sent them to the support. Sometimes I got a little bonus interest on some loans for helping to spot the bugs, so from that perspective bugs were good for me 😉 Further this showed me that the platform wanted to learn and get better. All my suggestions were considered and if useful implemented. You can also see that the cockpit was revised and that there are new functionalities added.

Fazit

I have a positive attitude towards robocash. My funds alwazs were invested completely, without my intervention (what is anyway not possible). I can’t report that from all other platforms……. Let’s see what the future brings, I am excited.

Robocash – my experiences with this new p2p platform (with buyback)

The wave of new p2p platforms doesn’t seem to tear off. After exploring Grupeer I have found a brand new p2p lending service: Robocash. The platform advertises it’s buyback loans with 17% yield (in Euro of course). I couldn’t let this opportunity slip 😉 Therefor I opened an investor account, and look at this, I am within the first 5 investors ;). The registration process was quick and easy. During the sign up procedure you are asked to upload an identity document and you are promised to be verified within one business day (but you can send the money on it’s journey before you are verified). I was lucky and got verified one hour after signing up. My money was credited to my account on the next working day.

Who stands behind Robocash?

Robocash is part of the russian Loan Originator Zaymer, which was founded six years ago by Sergey Sedov. Zaymer is operating its services in Kazakhstan, Russia and Spain. The Robocash platform is located in Riga, Lavia, but is operated out of Russia. Therefor we must be aware of the time difference and local holidays when contacting the support team.

Which types of loans are offered?

For the most part short term payday loans are offered, which are secured with buyback. Buyback intervenes when a loan is overdue for 30 days and covers the principal as well as the accrued interest.

Only autoinvest available

There is no possiblity to invest manually at robocash, you can only use the autoinvest. You can configure several autoinvests (portfolios) which can operate parallel to each other. At the right hand side you can see my settings. You can set the interest rate, define the max portfolio value and choose the maximal weight of a loan in your portfolio.

 

Conclusion

The people behind Robocash put in a big effort to provide a functioning platform. In my opinion they are succeeding in this aspect, as I did not notice any big shortcomings . This really surprised me considering this is a very new platform. It looks like there was time taken to correct errors before launch. What bothers me is that there are 16 percent loans advertised and then there are none of these available. At the moment there are 14%ers “only”, which is not surprising, as we don’t get more at other platforms. In my opinion it would have been better to advertise with 14% then to  disappoint the investors. But I will get over it 😉 Clarification: Robocash is not a p2p platform in the classic sense. The investors are funding the loan originator Zaymer which offers more loans through his balance sheet.