Category Archives: News

Sofcom Joins Viventor p2p lending marketplace

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Viventor announce another partnership with an established lender – Sofia Commerce Pawnshops (SofCom) from Bulgaria.

Founded in 1993, Sofia Commerce Pawnshops is the biggest pawnbroking lender in Bulgaria. It currently operates 130 pawnshops and has expanded to Macedonia. Sofcom is the only pawnshop chain that has been listed on Bulgarian Stock Exchange (BSE Code: 6SOA).

In addition to the traditional pawnshop business model, Sofia Commerce Pawnshops has developed a unique digital pawnshop which allows their costumers to gain access to funds under 24 hours without leaving their home.

Over the years, Sofcom has maintained stable profitability with profit per share of BGN 42.7 in 2016 and BGN 55.4 in 2015. Due to their large reserves and undivided profit, their current D/E ratio is at astonishing 5.5% (Q4,2017). To learn more, you can find their financial statements in our Loan Originator section.

Sofia Commerce Pawnshops loans on Viventor marketplace

  • 250-2500 EUR in size
  • 7-30 days in duration
  • 7%-10% projected annual return
  • 60 day Buyback guarantee

Sofcom will offer its pawnbroking loans from Bulgaria secured by borrowers’ personal assets. Operating at low LTV ratios, underlying collateral provides liquidity in case of borrower not being able to repay the loan.

The company will maintain 5% skin in the game stake in every single loan and start by offering an introductory projected return of around 10%p.a.

Mogo has expanded its cashback campaign on Mintos p2p lending marketplace

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Mintos have great news for the investors who have been enjoying Mogo’s cashback campaign! From April 5, 2018, until April 16, 2018, Mogo has expanded its cashback campaign and now offers you the opportunity to earn a cashback of up to 5% if you invest in its loans with a maturity of one year or more.

You will now get a cashback of:

– 1% for investing in Mogo loans with a maturity of 12 to 23 months;

– 2% for investing in Mogo loans with a maturity of 24 to 35 months;

– 3% for investing in Mogo loans with a maturity of 36 to 47 months;

– 4% for investing in Mogo loans with a maturity of 48 to 59 months;

– 5% for investing in Mogo loans with a maturity of 60 months or more.

If you have already invested in Mogo’s cashback campaign, your account will be automatically updated.

If you haven’t participated in Mogo’s campaign, then make sure you enrol in the campaign first before you make your investments.

Only investments made on the primary market qualify for this campaign.

 

For other bonuses visit our Cash-back & Bonuses page.

Debifo tripled the number of its clients in 2017

In 2017, the invoice financing company Debifo earned even more trust from both clients and investors – the company improved all key performance indicators and attracted new clients, thus becoming the largest non-bank invoice financer in Lithuania by the number of clients.

The number of Debifo clients grew from 50 in 2016 to 153 last year. According to Justas Šaltinis, Director of Debifo, active adaptation of services to the needs of small and medium-sized business could be pointed out among the key reasons for this growth.

“Last year, flexibility, transparent price and speed were our key priorities. We approve financing within three days; however, there have been cases when we have approved financing on the same day.

“Our ability to quickly approve financing is particularly appreciated by small companies with the turnover of up to EUR 1 million, yet there has been an increasing interest from larger medium-sized companies,” says Mr Šaltinis.

In total last year, Debifo financed invoices for almost a triple amount than in 2016. The value of invoices financed last year accounted for EUR 20.5 million. The average amount of Debifo financed invoice reached EUR 3500.

Last year, Debifo managed to expand the circle of its clients, attracting much more clients oriented to export markets – in 2017, they accounted for 32 percent of clients, whereas in 2016 – as few as 1 percent. The majority of Debifo clients are from wholesale trade, logistics, medicine, construction and other sectors.

Last year, the company also succeeded in gaining investors’ trust. It signed a financing agreement with the UK investment fund Advance Global Capital (AGC), reached 4500 investors on the peer-to-peer lending Mintos marketplace. At the end of the year, Debifo controlled an active portfolio of EUR 3 million.

“Conclusion of an agreement with AGC, which is one of the key players in the non-bank factoring market, is an important step in guaranteeing uninterrupted financing from a reliable partner as well as proof that we have been gaining more trust and recognition in the international market,” notes Mr. Šaltinis.

Last year, Debifo was also recognised as the TOP Company in the assessment of business credibility implemented by Rekvizitai.lt. This recognition, achieved by as few as 5 per cent of the most credible and economically stable companies, is highly significant for innovative and ambitious business. The award of the TOP Company is not the first achievement of Debifo. In 2016, Debifo won the award of the financial service of the year in the Service of the Year competition organised by the Lithuanian Business Confederation (LBC). The company has also been mentioned among 5 most promising financial sector start-ups in the prestigious business publication Forbes.

Source: Mintos.com

Aasa signs the Diversity Charter

Aasa, an international fintech company, has signed the Diversity Charter in its Polish, Estonian and Swedish affiliates. In this way, the company committed itself to promoting cultural, ethnic and social diversity in its work environment.

The Diversity Charter is an initiative promoted by the European Commission at the pan-European level. It constitutes a commitment of organizations to counteract discrimination and, at the same time, take action aimed at creating inclusive jobs open to diversity. Signing the Charter has also a broader dimension as its Signatories work for social cohesion and equality.

Aasa, a fintech company specializing in the provision of instalment loans for individual clients and small businesses, joined the group of such companies. Aasa has recently signed the Diversity Charter in Poland, Sweden and Estonia. This is another initiative of the company, implemented as part of corporate social responsibility (CSR) and sustainable development projects.

This way, Aasa committed itself to protecting employees against discrimination based on nationality, race, sex, health, religion, beliefs, political views, psychosexual orientation or marital status. To this end, the company will implement the principles of diversity management and the policy of equal treatment.

“Signing the Diversity Charter is an expression of our values. Our biggest advantage is the fact that we are an international and a very diversified team whose members support and respect each other on a daily basis. With this thought in mind, we can better understand the needs of a contemporary and increasingly diversified society,” says Ovais Siddiqui, President of the Management Board of Aasa Polska.

“We cordially congratulate Aasa on the implementation of provisions of the Diversity Charter wherever it is possible. We encourage all signatories of the Charter, many of which operate in many European markets, to take such broad measures. Unfortunately, this is not a common approach, which is a pity. The coherence of a company’s corporate policies is a good testimony. Above all, however, it highlights the importance of certain values for the organization such as the attitude of respect and openness towards other people. Due to close cooperation with the European Commission, we know that soon also Romania will have its Diversity Charter and I am sure that Aasa will be one of its first signatories,” says Marzena Strzelczak, Director of the Responsible Business Forum.

Aasa employs in its international branches people from Poland, Sweden, Estonia, Finland, Czech Republic, Kazakhstan, Romania, Ukraine and Great Britain. According to the results of the Top Employers survey, conducted by Aon Hewitt in July 2017, as many as 83% of the company’s employees say that diversity is its strongest advantage.

This is confirmed by their statements in the “Aasa Family Movie”, which shows their experience related to work at Aasa. They believe that the company is driven by values such as diversity, teamwork, trust and development opportunities. In their opinion, it is these values that create a friendly working atmosphere and contribute to the development of the organization.

The Polish branch of Aasa Polska also carries out other numerous activities in the field of corporate social responsibility (CSR). Since June 2017, it has run a nationwide social campaign Aasy Net, whose aim is to counteract digital exclusion of mature people with the support of younger generations. So far more than 30,000 people have benefited from free educational materials made available as part of the campaign. Last November, Aasa Polska joined the group of strategic partners of the Responsible Business Forum — a platform associating over 150 companies and organizations from various industries and regions of Poland, which supports companies in CSR activities and enables the exchange of their experiences in this field.

Source: Mintos.com

Varks.am attracts long-term capital that will provide additional security for Mintos investors

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Varks.am shareholders have decided to increase the registered share capital of Varks.am from AMD 455 to AMD 600 million (the equivalent of approximately EUR 1 million).  The increase of share capital will result in larger equity and raise the financial stability of the company. Share capital changes will be registered in the following weeks.

In addition, Varks.am concluded a subordinated loan agreement amounting to EUR 1.5 million. The subordinated loan agreement will stay in place to ensure at least a 15% Equity ratio for Varks.am, ensuring a stable and balanced growth of the company. This confirms Varks.am shareholders long-term commitment and provides extra security for investors on Mintos investing in the company’s short-term loans.

In addition, Varks.am is expanding its operations in Armenia. The company has opened two new branches in 2018 and a further four branches are planned to be opened during the next five months ensuring a wider presence across Armenia. The expansion will allow the company to cover Yerevan as well as most of the largest regional cities in Armenia.

According to customer feedback clients of Varks.am appreciate its wide network coverage through its branches. This is because Varks.am is located near them, serves clients very quickly and effectively and the lending conditions are very convenient for customers. This ensures a high level of customer satisfaction and a growing number of repeat clients.

Varks.am joined Mintos in February 2018 and offers its Armenia-issued short-term loans with an average repayment period of 30 days. Since its launch, more than EUR 10 million has been invested into its loans by investors. As of February 28, 2018, the company had a net loan portfolio of more than EUR 10.8 million. Currently, Varks.am issued short-term loans with a duration up to 30 days are offered to investors on Mintos with attractive rates of up to 14%. This provides a premium fee for high liquidity investments.

Kuky.pl from Poland joins Mintos p2p lending marketplace and offers short-term investment opportunities

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Mintos have a new addition to the loan originators family! Kuki.pl has just launched on the marketplace and offers you the opportunity to invest in its short-term consumer loans issued in Poland. The company is one of the fastest growing online short-term lenders in Poland and now lists its loans on Mintos in EUR and PLN for investment.

Established in 2017 Kuki.pl is a non-bank financial institution located in Warsaw, Poland and has its headquarters in Riga, Latvia. The company is made up of a team of 23 employees and is led by a strong management team which has up to 10 years experience in the online short-term consumer crediting market. Kuki.pl values its relationship with its customers above all else and aims to give the most convenient and fastest service. It achieves this through innovation, as it deploys the latest technologies to ensure instant consumer identification and scoring.

“We are excited to begin this collaboration with Mintos and share our strong performing portfolio with investors on the marketplace. We believe Mintos will allow Kuki.pl to grow at an even faster rate and allow us to reach a larger customer base in Poland, which is our goal,” says Toms Jurjevs, Group CEO.

The average Poland-issued short-term loan from Kuki.pl is around EUR 420 and PLN 1 760. The average repayment period is 30 days. You can expect an annual return rate of up to 13.1%.

Kuki.pl will keep 10% of each loan on its balance sheet to maintain its skin in the game. The company guarantees all of its loans that are delinquent for 60 days will be secured with a buyback guarantee. Kuki.pl and Bino.lv both belong to the same group.

Kuki.pl’s data-driven approach has enabled it to build a well-performing portfolio relatively quickly. Since its inception until March, 2018, it has originated more than 36 700 loans worth more than EUR 12.3 million. As of February 28, 2018, the company had a net loan portfolio of around EUR 4.2 million.

 

Credissimo, Award-winning loan originator from Bulgaria, has launched on Mintos p2p lending marketplace

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There are now even more investment opportunities on Mintos as the leader in the online lending market in Bulgaria, Credissimo has launched on the marketplace. The company offers you the chance to invest in its consumer loans with great net annual return rates of up to 12%.

Credissimo is a European fintech group founded in 2007 that utilises innovative proprietary technology to provide instant online consumer loans, e-commerce financing and bill payment services. The company is one of the fastest-growing non-bank finance providers in Central and Eastern Europe and it was the first loan originator in Bulgaria to offer full online credit and approval within minutes.

Since its inception, Credissimo has shown it is dedicated to innovation. It was the first company in the world to launch a fully-automated chat for crediting on Facebook Messenger. In May 2017, it was the first lending company to accept Bitcoin from customers to repay their loans. To date, Credissimo has processed over one million credit applications and has a current net loan portfolio of EUR 15 million.

“We are very excited to be part of the Mintos marketplace. Bulgaria’s online finance market is growing rapidly, but there is still a lot of room for further expansion in the country and abroad. Currently, we are rolling out products to new European and Latin American markets as part of our long-term expansionary goals. With our efficient business model and cutting-edge technology solutions, we are confident in our future international success. Our competitive advantage is encoded in our business know-how that we have developed from more than 10 years of experience. In addition, we will continue to foster innovation by expanding our presence in the cryptocurrency world with our new project – Nexo, the world’s first instant crypto overdrafts. ” says Sokol Iankov, CEO and Co-founder of Credissimo.

Bulgaria-issued loans from Credissimo on Mintos range from EUR 100 to 1 000. The repayment period ranges from 30 days to 24 months. You can expect a yearly net return of up to 12%.

To align its interest with those of investors the company will keep 5% of each loan placed on Mintos on its balance sheet. All Credissimo loans are secured with a buyback guarantee and will be repurchased if the loan is delinquent for more than 60 days.

Credissimo has operations in five European countries – Bulgaria, Macedonia, Poland, Romania and Spain – and is a market leader in the online consumer lending industry in two of them. The group has distributed more than EUR 100 million worth of loans since its inception. Credissimo adheres to the highest regulatory requirements and is strictly supervised by multiple European Banking and Financial Services Regulators including the National Bank of Bulgaria.

The socio-demographic profile of Credissimo’s customers is 55% male and 45% female. Its customers are aged between 21 to 45 years, and the highest percentage (35%) of borrowers are between 27 to 38 years old. The company’s customers are people who live in big cities, use the internet every day (mostly accessed from mobile devices), are well educated and the majority have a university degree.

At the 2018 annual business awards by Forbes magazine, Credissimo received the “Financial Sector Innovations” and “Quality of Services” awards. These acknowledgements are a result of Credissimo’s drive to be a leader in innovation whilst maintaining the highest level of customer satisfaction.

You can earn a cashback up to 4% on selected GetBucks loans on Mintos p2p lending marketplace

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GetBucks is the most recent loan originator to offer cashback for long-term investments on Mintos peer-to-peer lending marketplace! You can now earn a cashback of up to 4% for investing in GetBucks loans with a maturity of one year or more. You can get a cashback of:

  • – 1% for investing in GetBucks loans with a maturity of 12 to 23 months;
  • – 2% for investing in GetBucks loans with a maturity of 24 to 35 months;
  • – 3% for investing in GetBucks loans with a maturity of 36 to 47 months;
  • – 4% for investing in GetBucks loans with a maturity of 48 months or more.

This offer is only for a limited time, you have until April 13, 2018, to participate in the GetBucks cashback campaign. The company offers to invest in loans issued in Poland, Botswana, Kenya, and Zambia.

If you want to receive the cashback on your investments, you need to be enrolled in the campaign before making the investment. Only investments made on the Mintos primary market qualify.

GetBucks was the first loan originator on Mintos to offer investment opportunities in Africa. The company joined Mintos in June 2017, and investors have since funded more than EUR 4.9 million worth of GetBucks loans on Mintos. The average weighted net return for investors has been 10.5%. GetBucks offers personal and short-term loans from Botswana, Kenya, Poland and Zambia in euro (EUR) on the Mintos marketplace.

GetBucks is the leading fintech company in Africa, with a net loan portfolio in excess of EUR 92 million. Since its inception, the company has disbursed more than EUR 380 million in loans. GetBucks is part of the Luxembourg-registered, Frankfurt-listed MyBucks Group, which was awarded the “Best EU Financial Inclusion Company” in the 2017 edition of the European fintech Awards.

Speakers from GetBucks will be joining Mintos on March 22, 2018, for a webinar where the CEO and Corporate Finance Executive of MyBucks will reveal the latest financial data for the MyBucks Group, showcase the immense investment opportunities available in Africa and also reveal the future plans for the company and group. Be sure to stay tuned for upcoming information on the webinar.

FAQ

When will I receive my cashback?

The cashback will be transferred to your Investor’s Account on Mintos within six working days from the day you make the investment.

What will happen if the loan originator will re-buy my long-term investment?

Sometimes loan originators re-buy the loans before their maturity. If this happens, you will get to keep your cashback.

Do I need to enrol each time I make a new investment?

No. To participate in the campaign, you need to enrol only once. All investments made after that will qualify for cashback.

Do investments made prior to enrolling in the campaign, qualify for cashback too?

No. Only new investments made after you have enrolled in the campaign on your Investor’s Account qualify for a cashback.

Why would I want to invest in long-term loans?

Investing long-term has many benefits. The returns offered for these loans generally are higher than returns offered on short-term loans. You get to lock-in these higher return rates for a longer period of time, thus avoiding any cash drag effect. Including longer-term loans in your investment portfolio also means better diversification in terms of loan types and borrower profiles.

 

For other bonuses visit our Cash-back & Bonuses page.

Mogo now offers investment opportunities in its personal loans on Mintos p2p lending marketplace

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Opportunities for investment in Mogo loans has grown as the non-bank car loan provider now offers Latvia-issued unsecured personal loans for investment for the first time on Mintos. These loans are in addition to the car loans currently available from the loan originator from Bulgaria, Estonia, Latvia, Lithuania, Poland and Romania.

Mogo was established in 2012 in Latvia and is the largest non-bank car loan provider in the region. As of October 2017, Mogo also began issuing personal loans to residents of Latvia and as of February 28, 2018, has distributed EUR 1.8 million worth of loans to customers. Outside of Latvia, the company also has operations in Albania, Armenia, Bulgaria, Estonia, Georgia, Lithuania, Moldova, Poland and Romania. Mogo prides itself on its fast customer service and open communication, which fosters long-term relationships with its customers. As a result, it has more than 40 000 clients worldwide.

The average Latvia-issued personal loan on Mintos from Mogo is EUR 400. The average repayment term is 24 months and borrowers repay the loan in monthly instalments. You can expect an average annual net return of up to 14%.

To maintain its skin in the game, Mogo will keep 5% of each loan on its balance sheet. All Latvia-issued personal loans from the company are secured with a buyback guarantee meaning all loans that are delinquent for 60 days or more will be bought back.

Latvia is the company’s largest and most profitable market. As of December 31, 2017, Mogo Latvia’s net loan portfolio reached EUR 30.6 million, a 22% increase compared to December 31, 2016. In 2017, turnover for the company amounted to EUR 13.7 million. Since its inception, Mogo Latvia has originated more than 33 thousand loans worth EUR 86 million.

The typical borrower for Mogo is aged between 26 to 35 years. They are usually taking the loan to cover unexpected costs such as paying for repair work in the home. Feedback from customers has shown they appreciate the convenience and quick process of applying for a loan from Mogo.

As of December 31, 2017, Mogo Group’s net loan portfolio was more than EUR 100 million, a more than 50% increase compared to December 31, 2016. In 2017, turnover for the company amounted to EUR 40 million. Since its inception, Mogo Group has originated more than 91 thousand loans worth EUR 250 million.

Mogo joined the marketplace in 2015 and investors have invested more than EUR 105 million in its loans. In terms of total amount funded, Mogo is one of the top loan originators. The company currently offers car and personal loans in three currencies: Euro, British pound and Polish zloty.

Viventor Cashback Campaign

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Investing with Viventor just got even better. Viventor have launched a Cashback Campaign that will allow everyone who registers from 1st of March 2018 to 30th of April 2018 and fulfills the requirements to get a 10 € bonus added to their virtual investor account.

How does it work?

To get started, register as an investor by clicking on THIS LINK.
Remember, the deadline for registration is 30th of April 2018, whereas the Campaign expires on 1st of June 2018.

  • Submit your application and wait for your account to be verified and activated.
  • Invest at least 500 € for the minimum period of 30 days.
  • Afterwards, 10 € bonus will be added to your account automatically.

 

For other bonuses visit our Cash-back & Bonuses page.

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