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To launch Inditrade-Robocash, a personal small loan financing company Loans to range between INR 10,000 to INR 50,000 for short duration

Macros and Capital Markets | NA

Mumbai, December 04, 2018: Inditrade (erstwhile JRG) (BSE: 532745) and RobocashPte Ltd., an established player in the area of “Pay Day Loans” today announced the signing of a MoU to launch a new and independent NBFC business “Inditrade-Robocash” in the Indian market. The company will provide small loans to individuals ranging between INR10,000 to INR 50,000 for a short duration.

 

Making the announcement today, Mr. Sudip Bandyopadhyay, Group Chairman of Inditrade Group of Companies said, “Our focus as always is on Financing Progress by servicing un-serviced/ under-serviced segments of the Indian population through inclusive and organized financing. Our partnership with Robocash enables us to serve a large part of Indian population which is salaried or self employed with low earnings and in need of finance for a short duration. Robocash’s expertise in large emerging markets like Russia, Kazakhstan, Philippines, Indonesia and Vietnam with ‘Pay Day Loans’ and AI supported technology back-end coupled with our understanding of the Indian market make us ideal partners to service this segment”.

 

Speaking on their foray into the Indian market and partnership with Inditrade, Mr. Sergey Sedov, CEO of Robocash said, “India has one of the largest salaried and self-employed populations in the world. However, while it is a relatively untapped and lucrative market, it is also quite challenging. Inditrade with its 25 years of experience in the Indian markets and also lending experience is the ideal partner to navigate Inditrade-Robocash in becoming the preferred partner for short-duration loans to the salaried and self employed Indians.”

 

Inditrade and Robocash will invest in the company in proportion to their shareholding. The company will raise funds through capital infusion, tier 2 capital and loans from external sources.

 

The offerings of Inditrade-Robocash will be predominantly online with minimum physical interaction. According to estimates, the market size is more than INR 50,000 crore.  The company aims to be a leader in this segment within a period of 3 to 5 years.

 

About Inditrade

Inditrade with its 25 years of experience in the Indian markets and also small lending experience through its Micro Finance, Agri Commodity Finance, and SME/ MSME finance business brings in significant domain knowledge and terrain experience to the business.  

 

Inditrade Management as well as Board consisting of eminent industry professionals with deep domain knowledge also should add great value to this partnership.

 

Inditrade is predominantly into areas of servicing un-serviced/ under-serviced segments of the population.  Its other businesses including the soon to be launched Affordable Housing Loans are structured on the same theme of impact lending.

 

About Robocash

Robocash is an established player in the area of Pay Day Loans and installment loans. They operate in seven countries at present with leadership position in Russia, Kazakhstan and the Philippines. They also have a large presence in Spain, Indonesia and Vietnam and own a p2p investment platform operating across the European Union and Switzerland. Robocash has the technology and AI Engine for Risk Management that proved their efficiency for this business.  

 

For more information, please contact:

Anand Mahesh Talari, Mavcomm Consulting, +919870716285, anand@mavcommgroup.com


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