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.
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”.
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.”
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
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.
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.
Management as well as Board consisting of eminent industry professionals with
deep domain knowledge also should add great value to this partnership.
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.
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.
information, please contact:
Talari, Mavcomm Consulting, +919870716285, email@example.com