Inditrade Capital and Robocash Group sign MoU to join efforts in India

The Indian financial company Inditrade Capital and Robocash Group announced the conclusion of a Memorandum of Understanding (MoU) to establish an independent NBFC business “Inditrade-Robocash” that will provide short-term consumer lending in India.

Last week, the Indian financial company Inditrade Capital and the international holding Robocash Group signed the MoU to work together in the lending market in India and launch an independent non-banking financial company “Inditrade-Robocash”. The company will provide personal financing and issue short-term loans to individuals ranging between USD 140 to USD 705 (INR 10,000 to INR 50,000).

Both companies have a longstanding expertise in the alternative lending market facilitating financial inclusion mainly focusing on the population underserved by banks. The new company Inditrade-Robocash will work predominantly online and imply automated scoring and lending processes. According to estimates, the potential of the market is over USD 7 billion (INR 50,000 crore). The company expects to become a leader in its segment in the period of 3-5 years.

Making the announcement, Mr. Sudip Bandyopadhyay, Group Chairman of Inditrade Group of Companies said, “Our focus as always is on Financing Progress by servicing underserved segments of the Indian population through inclusive and organized financing. Our partnership with Robocash Group 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. The expertise of Robocash in this sector proved by the dynamics in the emerging markets like Russia, Kazakhstan, the Philippines, Indonesia and Vietnam supported by back-end AI technologies coupled with our understanding of the Indian market make us ideal partners to service this segment”.

Speaking about the forthcoming expansion and partnership with Inditrade, Mr. Sergey Sedov, CEO of Robocash Group 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 market and also lending experience is the ideal partner to navigate Inditrade-Robocash in becoming the preferred partner for short-term loans to the salaried and self employed Indians.”

According to the terms of the Memorandum, Inditrade (including its subsidiaries/ associates) will hold 50.1 percent and Robocash Pte Ltd incorporated within the Robocash Group company will hold 49.9 percent in Inditrade-Robocash, the independent NBFC dedicated for the business. Inditrade and Robocash will invest in the company in proportion to their shareholding.

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Notes for Editors:
Robocash Group is an international financial group operating in the segments of consumer alternative lending and marketplace funding in Europe and Asia. The company develops robotic financial solutions represented by lending services in Russia, Kazakhstan, Spain, the Philippines, Indonesia and Vietnam and Latvia-based p2p investment platform operating across the EU and Switzerland. The group develops products completely in-house with implementation of artificial intelligence, machine learning and data-driven technologies providing precise and comprehensive risk management that proved their efficiency for this business.
https://robo.cash/about

Inditrade holds 25 years of experience in the Indian markets and also small lending experience providing products in Micro Finance, Agri Commodity Finance, and SME/ MSME finance business that brings in significant domain knowledge and terrain experience to the business. Inditrade is predominantly into areas of servicing unserviced and underserved 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.
http://www.inditrade.com/

Robocash Group
Duntes iela 23A, Riga, Latvia

Presscontact:
Olga Davydova
Head of Media Relations
E-Mail: pr@robo.cash
Tel.: +371 67 660 860

This release was published on openPR.