According to the audited financial statements, Robocash Group revenue in FY2019 amounted to US$ 132.1 million with a 62.5% increase year-over-year (2018 – US$ 81.3 million, 2017 – US$ 39.8 million). At the same time, total comprehensive income grew at 111.7% year-over-year hitting US$ 18.8 million (2018 – US$ 8.9 million, 2017 – US$ 6.1 million).
The international fintech holding Robocash Group delivering micro consumer lending services in Europe and Asia today announces its combined audited financial statements for the full years ended 31 December 2019, 2018, and 2017.
Audited by KPMG, financial highlights for the year ended December 31, 2019, reflect strong growth in the company’s core business and its ability to capitalize on the rapid digital penetration across the footprint (all comparisons to the year ended December 31, 2018):
- Revenue increased by 62.5% YoY, from US$ 81.3 million to US$ 132.1 million.
- Total comprehensive income grew at 111.7% YoY hitting US$ 18.8 million.
- Retained earnings amounted to US$ 28.1 million, up 51.2% YoY.
- Total assets comprised US$ 60.3 million, up 116.8% YoY.
- Total equity equaled US$ 37.8 million, up 102.0% YoY.
Operating performance highlights for the same period confirm the demand for the group financial services created to benefit the underbanked and underserved segments of the tech-savvy generations:
- The number of registered customers grew to 4.2 million, up 105.9% YoY.
- The number of provided loans amounted to 3.3 million, up 45.8% YoY.
- Disbursed principle increased by 66.5% YoY, from US$ 183.5 million to US$ 305.5 million.
Sergey Sedov, Founder & CEO of Robocash Group, commented on the results: “In line with our restructuring plan and strategic roadmap in the Asian region, our objective in 2019 was to bring the companies of the group under the umbrella of the Singaporean entity Robocash PTE Ltd. Meanwhile, we also improved our financial position and accelerated expansion across both mature and new markets. At the time of publishing the results, the group is preparing a neobank launch in the Philippines, a completely new product in the portfolio. Leveraging on the rapid smartphone adoption, which has facilitated the success of our first fintech services, we are eager to provide customers with a premium level of access to finance. Another strategic goal this year is an initial public offering on the Australian Securities Exchange (ASX) at the end of 2020. Almost half of the amount that will be attracted will be used for the development of the online bank, while another part will support our companies in the Asian markets.”
The audited financial statements can be found at: