car loan – Passive income

New investment opportunity on Mintos p2p lending marketplace: Mogo’s Moldova-issued car loans

Mogo, the largest non-bank car loan financer in the Baltics, has yet again increased its offering to investors on Mintos! The company has added its car loans from Moldova for investment with expected net annual returns of up to 14% – so don’t miss out!

In terms of loans funded, Mogo is one of the largest loan originators on Mintos. The company was established in 2012 in Latvia and joined Mintos in March 2015 and it currently offers investment opportunities in Bulgaria, Estonia, Latvia, Lithuania, Poland, Romania and now Moldova. The company began issuing loans in Moldova from September 2017. To date, Mogo Moldova has issued 903 loans worth EUR 3.8 million loans in the country. Mogo prides itself on its fast service and open communication, which fosters long-term relationships with its customers, and as a result, it has attracted 821 active clients in Moldova already.

“We have had a very long-standing and fruitful cooperation with Mintos at the Mogo Group level so having also Mogo Moldova on the marketplace is a logical step. We believe this will allow us to increase our operations in Moldova and better serve our clients, whilst also give investors on Mintos more investment opportunities,” says Maris Kreics, Chief Financial Officer.

The average Moldova-issued car loan from Mogo is EUR 4 300, with an average repayment period of 53 months. You can expect net annual returns of up to 14%.

To maintain its skin in the game, Mogo will keep 5% of each loan. All Moldova-issued car 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 by Mogo. Some of the equity investors in Mogo and Mintos overlap.

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 is first on Mintos P2P marketplace to offer investments in GBP

By MPI27th November 2017News, Peer-to-Peer Lendingcar loan, GBP, invest, Mintos, Mogo, peer-to-peer lending, Poland

Great news for investors looking to invest in British pounds (GBP)! Non-bank car loan provider Mogo now lists its loans issued in Poland in GBP on the Mintos marketplace. GBP is the eighth currency investors can invest in through Mintos.

“Seeing the rapidly growing number of investors from the United Kingdom and the high demand for loans listed for investment in GBP on Mintos, we decided to list our loans from Poland also in GBP. We are sure this move will be beneficial for investors on Mintos and our business, as well,” says Māris Kreics, CFO of Mogo Finance.

Mogo loans available on the Mintos marketplace for investment in GBP will be the same as Poland-issued loans already listed on Mintos in PLN. Loans will range from GBP 254 to GBP 7 350, with a repayment deadline of 6 to 48 months. The annual net return to investors will range from 8.5% to 13%. Mogo will offer a buyback guarantee for loans that are delinquent for more than 60 days. The loan originator will retain at least 5% of each loan placed on the Mintos platform on its balance sheet as its skin in the game.

Mogo is one of the top loan originators on the Mintos marketplace. The company joined Mintos in March 2015, and has since funded car loans worth EUR 75 million through the marketplace. To date, the average net annual return offered for Mogo loans has been above 12%.

With a total of more than EUR 300 million in loans originated since the company was founded in 2012, Mogo Group is the largest non-bank car loan provider in the region, with operations in Latvia, Lithuania, Estonia, Georgia, Poland, Bulgaria, Romania, Armenia and Moldova.

The aggregate net loan portfolio of Mogo Group is more than EUR 90 million. Mogo Group has demonstrated consistent profitability. Last year, it generated EUR 6 million in net profit, and projects a net profit of EUR 10 million for 2017.

Investing in GBP on Mintos

There are two ways to invest in GBP loans on Mintos: by transferring GBP directly to your investor’s account on Mintos or by converting your currency into GBP on the Mintos marketplace.