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.
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.