Singapore-based fintech firm Robocash Group, which operates a buy-now-pay-later (BNPL) service in the Philippines, has rebranded to UnaFinancial, highlighting the shift of its focus from alternative lending to building a broader financial ecosystem.
In 2021, Robocash launched UnaCash, a BNPL service in the Philippines. It is a people-centric installment solution that enables the purchase of merchandise from its partners online.
With the rebranding, the group, known for its focus on alternative lending, is now expanding its horizons to build a comprehensive financial ecosystem that caters to the varied spending, borrowing, and investment requirements of its global clientele.
Since its inception in 2015, Robocash Group cemented its place as a formidable entity in the Asian markets, boasting over $1 billion in financing. The group also saw an impressive 61% year-on-year growth in 2022, with loans amounting to $420 million being issued.
Historically, the group’s primary endeavor was to cater to the financial needs of the unbanked population in emerging markets. However, with societal digitalization in full swing, coupled with the transformation in consumer profiles and preferences, the group has felt a need to pivot.
“In order to cater to customers’ evolving needs and reach a broader audience, UnaFinancial is set to diversify its product line. It will introduce new credit solutions, such as BNPL, credit lines and credit cards, transaction opportunities and digital investment services,” said Natalia Ishchenko, CEO of UnaFinancial.
The group is now expanding its operations into new markets in Central Asia, Latin America, and the Middle East.
In the Philippines, Robocash’s UnaPay allows users to make purchases on the Lazada e-commerce platform with up to 12 installments due every two weeks. The customers can apply for a virtual credit amount of up to P30,000.
Having inherited the ease-of-use and full automation from the existing products of the group, UnaPay provides Filipinos with fast and convenient access to finance. The approval process takes 5 minutes, while the funds are credited to the customers’ Lazada e-wallet within 24 hours.