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Post by dmitry on Feb 20, 2017 6:46:42 GMT
Hello everyone! We’re glad to introduce you our new platform “Robocash” (robo.cash/), which gives you a unique opportunity to earn on investments into loans effectively. The main advantage of the platform is a guarantee of high interest income to 14% in case of the return repayment of investments. The majority of our loans for up to 1 month, therefore we provide a rapid turnover of the capital and high speed of investments management. Also we give an opportunity of automatic formation of the investment portfolio. These advantages will let you gain a higher income in comparison with the bank deposit and to be quicker than other investors, who invest money in P2P-sector.
International company
Robocash investment platform is united by one owner with the creditor companies and it is an indisputable advantage of the company. We have been successfully issuing loans in Spain, Russia and Kazakhstan more than 7 years. Today the group contains 5 companies numbering 750 staff. During this time more than 1,2 million loans have been issued and the number of the users who have undergone scoring is more than 2 million people.
We invite you to join us and to be practically convinced in good results.
We’re happy to answer all your questions.
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Post by dmitry on Feb 20, 2017 11:01:19 GMT
Thank you for your question. Right now we are open only for EU residents. In future, when brexit will take force we could change our T&C and add UK.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Feb 20, 2017 12:20:28 GMT
The calculator goes up to €100,000 investment, but you can only invest €10,000 euros per year (according to your FAQs).
Is that not a tad misleading?
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nick
Member of DD Central
Posts: 1,056
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Post by nick on Feb 20, 2017 17:34:05 GMT
Where is you platform based? Are you subject to any local financial regulation, and if so, who is the regulator?
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Post by buttchopf23 on Feb 20, 2017 17:56:59 GMT
They are based in Latvia, but Russian people stand behind it
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Post by sergeysedov on Feb 21, 2017 9:08:53 GMT
The calculator goes up to €100,000 investment, but you can only invest €10,000 euros per year (according to your FAQs). Is that not a tad misleading? Right now we put this limit of 10,000 EUR per year due to AML procedure. We need to understand the model and risks related with it and we will raise this limit in future for sure.
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Post by sergeysedov on Feb 21, 2017 9:12:36 GMT
Where is you platform based? Are you subject to any local financial regulation, and if so, who is the regulator? SIA ROBOCASH is the operator of ROBO.CASH Peer2Portfolio platform, incorporated in Latvia. The activity of the company does not require to obtain the license with the Financial and Capital Market Commission (hereinafter referred to as the FCMC). The representative of our company have met the representative of FCMC, who approved, that the license for such activities is not necessary at the moment, because there is not any acting normative act regulating such area of business. In connection with above mentioned, we would like to attract your attention to the following information: 1. The company ROBOCASH is not the credit or financial institution in accordance with the Credit Institution Law of Republic of Latvia, because it does not provide any of financial services indicated in part 4. of clause 1. of the Credit Institution Law; 2. The Company ROBOCASH is not the payment or electronic money institution in accordance with the Payment Services and Electronic Money Law of the Republic of Latvia, because it does not provide any of services indicated in part 1. of clause 1. of the Payment Services and Electronic Money Law, as well as does not emit the electronic money; 3. The company ROBOCASH does not: - issue consumer loans; - offer the loan agreements to the consumers and does not acquaint consumers with them; - conclude loan agreement with consumers on behalf of creditors; - help consumers in the process of concluding loan agreements (if the repayment of the loan is ensured by the real estate), that is why it is not necessary to obtain license with and/or register in the Consumer Rights Protection Centre (hereinafter referred to as the – CRPC).
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Post by sergeysedov on Feb 21, 2017 9:16:49 GMT
They are based in Latvia, but Russian people stand behind it Thats right, i'm the owner and founder of this platform and i'm from Russia. Our team built 4 lending companies in 3 countries(Russia, Kazakhstan, Spain). We are experienced in both online and offline lending(through branch chains in Russia and Kazakhstan) for more than 6 years.
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Post by dmitry on Feb 21, 2017 9:32:34 GMT
dmitry Are you intending to allow deposits in pound sterling or will UK investors have to use a foreign exchange and transfer service? We've started with EUR only account, we are going to add pound sterling account in next few month
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Post by dmitry on Feb 21, 2017 9:41:56 GMT
Thank you for your question. Right now we are open only for EU residents. In future, when brexit will take force we could change our T&C and add UK. Thanks for that but I guess you could or you could not but do you have any plan in place ? is it 50/50? If you don't change your T&Cs, what would be the exit plan for UK lenders ? There is a bank serving our platform involved, when brexit take force(or at least everything will be clear with that) we will get in touch with bank and find a way to serve our UK Investors. If we will be unable to serve them - we will let them know as soon as we have this information and we will pay all the invested money with all interest earned.
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Post by buttchopf23 on Feb 21, 2017 9:56:18 GMT
They are based in Latvia, but Russian people stand behind it Thats right, i'm the owner and founder of this platform and i'm from Russia. Our team built 4 lending companies in 3 countries(Russia, Kazakhstan, Spain). We are experienced in both online and offline lending(through branch chains in Russia and Kazakhstan) for more than 6 years. I read that in your about us. It is indeed great that you as owner are answering questions here. Appreciated.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355
Likes: 209
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Post by Neil_P2PBlog on Feb 21, 2017 12:13:59 GMT
Where is you platform based? Are you subject to any local financial regulation, and if so, who is the regulator? SIA ROBOCASH is the operator of ROBO.CASH Peer2Portfolio platform, incorporated in Latvia. The activity of the company does not require to obtain the license with the Financial and Capital Market Commission (hereinafter referred to as the FCMC). The representative of our company have met the representative of FCMC, who approved, that the license for such activities is not necessary at the moment, because there is not any acting normative act regulating such area of business. In connection with above mentioned, we would like to attract your attention to the following information: 1. The company ROBOCASH is not the credit or financial institution in accordance with the Credit Institution Law of Republic of Latvia, because it does not provide any of financial services indicated in part 4. of clause 1. of the Credit Institution Law; 2. The Company ROBOCASH is not the payment or electronic money institution in accordance with the Payment Services and Electronic Money Law of the Republic of Latvia, because it does not provide any of services indicated in part 1. of clause 1. of the Payment Services and Electronic Money Law, as well as does not emit the electronic money; 3. The company ROBOCASH does not: - issue consumer loans; - offer the loan agreements to the consumers and does not acquaint consumers with them; - conclude loan agreement with consumers on behalf of creditors; - help consumers in the process of concluding loan agreements (if the repayment of the loan is ensured by the real estate), that is why it is not necessary to obtain license with and/or register in the Consumer Rights Protection Centre (hereinafter referred to as the – CRPC). There could be negative implications for some tax payers (at least in the UK) if you are not authorised by an equivalent of the FCA. We may not be able to claim tax relief on bad debt (https://p2pblog.co.uk/eu-platforms-uk-tax/#How_Does_HMRC_Tax_P2P_Income)
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Post by Deleted on Feb 21, 2017 18:16:56 GMT
1. When you've completed registration, you don't get automated acknowledgement of successfully being registered.
2. You might want to allow uploading PDF copies of documents for verification, rather than just image files.
3. T&C 2.1.4 "The User has a current account opened in the name of the User with a credit establishment registered in
Latvia, branch of a foreign credit establishment in Latvia or any other EU credit establishment;"
So does that mean you won't take money if sent via TransferWise or likes of them?
4. T&C 6.13. "The User agrees that the Lender has the right unilaterally to extend the Loan repayment period without prior coordination with the User. The procedure of the repayment period extension foresees payment of the calculated Interest by the Borrower and/or the payment by the Borrower of the fee for the Loan repayment period extension."
How many extensions are you guys planning to give before the buy back kicks in ? One of your competitor, Twino, for instance, allows maximum of 6 extensions. (1 extension = 1 month)
5. T&C 7.1.4. "immediately, but no later than within 3 (three) business days, to notify ROBOCASH in writing of any changes to the User’s first name, last name, e-mail address, User’s bank account or other information
provided on the Website of ROBOCASH;"
Surely, I should be able to tell you guys about it, only when I need to, aka, withdrawal time?
6. T&C 10.2.3. "ROBOCASH is fully released from liability towards the User for any losses that the User has or might suffer as a result of using the Website of ROBOCASH or purchase the Claim, including:
10.2.3.5.due to the illicit conduct of the Borrower and due to Borrower infringing the Loan Agreement;"
why would Robocash be released from liability towards user (investor) when it provides buyback guarantee?
7. T&C 10.2.4. "ROBOCASH does not have the duty to pay for the Claim or any other payments under the Assignment Agreement to the User before the Lender has received corresponding payment from the relevant Borrower."
Shouldn't buyback guarantee mean Robocash has a duty to pay to investor, even when they don't receive payment from borrowers?
8. 13.4. "In case of insolvency, ROBOCASH undertakes all reasonable actions to ensure that the competent third party takes over in full the administration and serviсing of the Claims available on the Website of
ROBOCASH. ROBOCASH shall inform all Users about it"
Has a third party been nominated? Who will be acting as an administrator? Who will be responsible for payments towards administrator ?
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Post by wiseclerk on Mar 13, 2017 14:48:01 GMT
I think he means the number of loans not the value
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