Robocash has suspended the position of latest loans from UnaPay on its peer-to-peer lending platform.
All UnaPay loans shall be closed by the top of February 2024, and the platform has advised traders that they may obtain the principal and accrued curiosity on these loans “in a well timed method”.
UnaPay is a mortgage originator primarily based within the Philippines which offers purchase now, pay later (BNPL) merchandise and credit score line loans. It launched in 2020 below the Digido Finance model.
It offers client loans to the worth of €820 (£703) with a maturity interval of as much as 12 months.
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Since 2021, UnaPay loans have been out there to traders on the Robocash platform. Nevertheless, the Croatia-based P2P lender stated that since then, the product has undergone quite a few adjustments and now operates below the UnaCash model.
UnaCash doesn’t at present seem on the platform, however Robocash advised traders that this may increasingly change sooner or later, because the product develops additional.
Robocash famous that UnaPay’s share within the platform’s portfolio is 0.2 per cent, stating that “its suspension could have no influence on general mortgage volumes.”
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UnaFinancial – Robocash’s father or mother firm – is constant to broaden its BNPL presence within the Philippines.
“In 2023, the holding launched point-of-sales loans and is now engaged on portfolio improvement,” stated a Robocash spokesperson.
“With the service increasing, we are going to have a look at integrating it on the platform.”
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