Tag Archives: consumer loans

IuteCredit now offers loans from Kosovo for investment on Mintos p2p marketplace

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IuteCredit has yet again expanded its investment offering on Mintos by placing its consumer loans issued in Kosovo on the marketplace. This is in addition to the loans that were already available for investment from IuteCredit in Albania and Moldova.

IuteCredit Group was founded in 2008 and operates in Moldova, Albania, Macedonia and Kosovo. The Group has a net loan portfolio of EUR 30 million and has helped more than 200 000 customers. It aims to create the extraordinary experience in personal finance, by exceeding customer´s expectations.

The average Kosovo-issued loan on Mintos from IuteCredit will be EUR 400 with a repayment period of 8 months. The expected return for investors will be up to 11%. As Kosovo has adopted the Euro (EUR) as its official currency,  the loans by IuteCredit are offered in its local currency on the marketplace.

To align its interests with those of investors, IuteCredit will retain 10% of each loan placed on Mintos on its balance sheet. All Kosovo-issued loans from IuteCredit will come with a buyback guarantee and the company will undertake the obligations of repurchasing delinquent loans.

IuteCredit started its operations in Kosovo in November of 2017 and is regulated by the central bank of Kosovo. It is currently one of the alternative finance market leaders in the country. Since its inception, more than 8 000 loans have been issued in Kosovo worth more than EUR 3.5 million. As at the end of August 2018 its net loan portfolio in the country is EUR 2.2 million.

The Republic of Kosovo is Europe’s youngest country as it declared its independence from Serbia on February 17, 2008. According to the World Bank, during 2009 to 2017 real GDP grew on average by 3.5% each year. According to Investment Climate Statements for 2017, in 2016, the country ratified a strategic investment law. This was in order to ease market access for investors in key sectors.

To obtain exposure to IuteCredit Kosovo loans, investors will be able to invest in loans issued by Mintos Finance to IuteCredit Kosovo, where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to IuteCredit Kosovo will be pegged to a respective loan issued by IuteCredit Kosovo to the final borrower. Mintos Finance is a Mintos group company.

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First loan originator from Macedonia TIGO Finance launches on Mintos

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TIGO Finance from Macedonia launches on Mintos peer-to-peer lending marketplace. With this addition, investors now have the chance to invest in its consumer loans from Macedonia and earn net returns of up to 10%.

TIGO Finance is a financial company that applies innovative and modern technology to offer quick and easy micro-financing solutions to individuals. The company is fully licenced and operates in accordance with the Macedonian Law on Financial Companies since December 2017 when the first loans were issued.

Although TIGO’s focus is online lending, the company has opened five branches in Macedonia, located strategically in key demographic areas. The firm plans to open further branches in the next quarter so it is more accessible to its clients.

On Mintos, TIGO is planning to offer its short-term and personal instalment loans for investment. Macedonia-issued short-term loans from the company range from EUR 35 to 325 with a maturity of up to 30 days. The company’s instalment loans have a maturity of up to 24 months and the loan amounts are up to EUR 1 000.

“TIGO finance is pleased to join the Mintos marketplace, a unique place where the movement of capital is free and efficient. Given our advanced IT infrastructure, which allows us to obtain maximum efficiency and customer focus in operations, our partnership with Mintos will strengthen our position in the Macedonian market. This will help us to get one step closer to our goal of becoming the most well-known brand in the micro-financing industry,” says Filip Dimitrovski, Country manager of TIGO Finance in Macedonia.

From January 2018 up until the end of August 2018, the total amount of issued loans by TIGO Finance has reached EUR 1.43 million, with First Payment Default (FPD) levels lower than 10%  over the same period. At the end of August, the company’s net loan book amounted to EUR 600 000. The company is continuously looking for opportunities to innovate and increase its ability to satisfy its customers’ needs and expectations.

TIGO Finance’s target market largely consists of clients who often have limited access to banking services. Borrowers can receive a loan in minutes, as the company applies an automated and flexible system to check its customers’ creditworthiness. This results in a credit pre-approval in only 30 seconds. This makes TIGO loans the fastest on the market.

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Fast Invest peer-to-peer lending marketplace overview

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Fast Invest is an innovative FinTech company that offers its customers the chance to invest in consumer-based loans issued in European countries. All loans in the marketplace come with Buyback and Default Guarantees.

They firmly believe that everyone should be given access to the digital investment world. Technology has evolved so much over the past few years creating a smoother, faster and more reliable money flow. Their mission is to enable cross-border investing for every European citizen. The goal is to achieve this by building a stable, secure platform that makes it possible for users to invest in different countries, loan types and loan originators. Users can select from the pool of listed loans and invest in those that match their preferences.

Fast Invest’s business model provides access to investors and makes secure investing simple and accessible for anyone interested in investments and innovative ways of earning. Users can select from the pool of listed loans and invest in the one’s meeting their preferences, earning up to 14% in interest.

Fast Invest can offer better terms than traditional banks because they exclude unnecessary intermediaries from the process, thus allowing investors to save money that would have been otherwise spent on commissions and fees for third party services.

Overall FinTech (Financial Technology) companies are more flexible in terms of rates and operational costs than other organisations in the traditional banking sector. FinTech companies operate in diverse groups and incur fewer expenses than the traditional banking sector, thus providing the opportunity to give back more significant returns to the people.

How does the Fast Invest platform work?

  1. A person applies for a loan at a loan originator and prepares all the necessary documents and fills in the appropriate forms. The loan originator checks the applicant’s credit score, evaluates risk and grants the loan.
  2. Credit institutions provide the granted loans for investment. Fast Invest’s Compliance and Credit Risk Department then approves the conditions of the credit agreement and puts them on our Loan List for investment.
  3. The borrower makes monthly repayments according to the terms in the credit agreement and the payment schedule. Payment instalments are divided proportionally according to the amount invested in that particular loan for every investor.
  4. As soon as the borrower whose loan you have invested in repays his loan, you will start receiving payments of both the principal sum and the interest for that investment period. Funds are automatically transferred to your Fast Invest account. You can reinvest those funds in any available loan using the Auto Invest tool.

Opening a Fast Invest investor’s account

  1. Fill in the investor’s registration form.
  2. Add funds to your Fast Invest account.
  3. Choose a loan to invest in from the Loan List.
  4. According to the loan payment schedule, you will start receiving both repayments on the principal and the interest. Funds will be transferred to your Fast Invest account.

*NOTE: The investor must confirm his/her identity in order to request the immediate withdrawal of funds from the Fast Invest account to a personal bank account.

Investors must be at least 18 years old, have a valid email address and a personal bank account in their name in the European Union.

For the identification purposes, you must provide a national identification card (scanned or photographed both sides) or a passport (scanned or photographed).

There are three steps for Fast Invest client verification:

  1. The client must send a copy of his/her national identification document. If there are any questions or concerns relating to the identification of the client, the Compliance Office support team will request a second identification document and bill to successfully identify the client;
  2. The client receives an email which must be confirmed via the included link;
  3. The client must verify his/her phone number by entering the SMS code sent directly to his/her phone.

Companies cannot register with Fast Invest platform, or make investments.

Investing with Fast Invest platform

Right now, the platform provides consumer-based loans issued across the European Union.

All listed loans are 100% pre-funded by the Loan Originator. Moreover, the Loan Originator keeps at least a 5% stake in every single deal, proving they have “skin in the game”.

On the Loan List, you can manually filter all listed loans, and manually pick the ones aligning with your preferences by determining: term, currency, amount, interest rate, and loan origin.

By using Auto Invest, you can create a portfolio, specifying specific parameters (portfolio size, maximum investment per loan, projected interest, time to maturity, etc.). Afterwards, the A.I. system will automatically select loans that meet your specified criteria and invests in available funds continuously. You can alter the settings or stop the portfolio at any time by visiting the Auto Invest portfolio list in your account.

You can check your investment portfolio at any time from the My Investment page or check the Account Statement page for full information on account transactions.

Auto Invest loans are marked with the symbol.

What is the buyback guarantee?

If you decide to stop investing in the selected loan and sell the investment (at any time before the scheduled full payment date), Fast Invest will buy back your investment in 1 business day, guaranteed.

To sell your investment, just log in to your Fast Invest account, click the My Investment section, select the loan you would like to sell and click “sell”. After the Account Management Support Team has approved it, you will receive the funds in your Fast Invest investors account.*

*Note: always remember, when selling your investment ahead of time you will lose all interest earned through the process. However, you will get your invested funds back. An icon indicates these payments secured by the BuyBack Guarantee.

What is the default guarantee?

If a payment instalment is overdue by 3 (three) or more days, the Default Guarantee will settle the arrears. The icon will mark these payments as paid by the Default Guarantee.

On the Fast Invest platform, there are no investment limits for individual investors. You can start investing with 1 Euro.

How does the currency exchange work?

The Fast Invest platform supports 4 fiat currencies – European Euro (EUR), United States Dollar (USD), United Kingdom Pound (GBP) and Polish Zloty (PLN).

The currency exchange is a simple and easy process.

  1. On the exchange page, select which currency you want to convert to.
  2. Enter the desired amount in one of the input fields.
  3. Confirm the transaction.

Currency exchange rates are calculated via rates from the European Central Bank.

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Simbo.dk joins Mintos and offers for investment short-term loans from Denmark

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There are now even more investment opportunities from Denmark on Mintos, as Simbo.dk has just launched on the marketplace. Simbo.dk is one of the leading consumer loan providers in Denmark and now offers for investment its short-term consumer loans listed in euro (EUR) and Danish krone (DKK).

Launched in April 2017, Simbo.dk operates completely online and offers its customers a simple and fast way to receive a loan. The company prides itself on its high-quality customer service, which is reflected in its strong rating of 9.3 out of 10 on Trustpilot. Above all else, Simbo.dk ensures complete transparency with its loans – there are no hidden fees or interest. The efficient application process takes just one minute, and customers can have the funds in their account in 10 minutes.

“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 Simbo.dk to grow at an even faster rate and allow us to reach a larger customer base in Denmark, which is our goal,” says Toms Jurjevs, CEO of Simbo.dk.

Denmark-issued loans from Simbo.dk are listed on Mintos in both EUR and DKK. The average loan from the company on the marketplace is around EUR 500 and DKK 4 300. The repayment term on average is 30 days, and borrowers make their repayments in a single instalment. You can expect a yearly return of up to 13%.

Simbo.dk guarantees the buyback of all loans that are delinquent for more than 60 days. To maintain its skin in the game, the company will keep 10% of each loan placed on Mintos on its balance sheet.

Since its inception, Simbo.dk has experienced strong growth. As of the end of April 2018 the company had a net loan portfolio of EUR 4.1 million.

The rapid growth of Simbo.dk can be attributed to the extensive experience of the management teams within the fintech industry. The founder and CEO of Simbo.dk, Toms Jurjevs, has 8 years experience in top executive positions with online short-term consumer lending market leaders. He has overseen businesses in Latvia, Lithuania, Estonia, Armenia and Romania. In addition, the local Managing Director for the Danish market, Stefan Agergaard Hansen, has executive experience from multiple short-term lending providers including in the peer-to-peer industry. He has overseen operations and business development in Denmark, Norway, Sweden, Spain, Poland and Finland.

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Lendo has published its latest operational results

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Georgian non-bank loan originator Lendo has published its operational results for the first quarter of 2018. According to the figures, Lendo is now the leading non-bank lender in Georgia in terms of loan volumes and portfolio size. As of the first quarter of 2018, Lendo disbursed more than EUR 90 million worth of loans since its inception.

Due to the changes in regulation in Georgia in 2017, Lendo focused on instalment loans, which has provided the company with a steady growth of its loan portfolio and income stream. As a result, the company’s revenue has exceeded levels reached before the interest rate restrictions were implemented.

Lendo offers its unsecured consumer loans through its established network of branches across the largest cities in Georgia. Lendo is a well-known brand in Georgia and employs almost 200 employees. The company prides itself on its friendly customer service and as a result had more than 130 000 active clients as at March 31, 2018.

Lendo will publish its audited 2017 financial statements in June 2018.

Lendo has also reactivated its cashback campaign on Mintos peer-to-peer lending marketplace. If you invest on Mintos in Lendo’s loans with a maturity of 9 months or more between May 2, 2018, and May 16, 2018, you can earn a cashback of 1.5%.

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

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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.

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GetBucks joins Viventor peer-to-peer lending marketplace

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MyBucks, a leading FinTech company that operates a range of financial products and services across 13 countries worldwide joins Viventor peer-to-peer lending marketplace. The company will list the loans originated in Kenya under GetBucks brand.

Founded in 2011, MyBucks has established itself as a scene-setting market pioneer when it comes to modern financial services. Operating 4 banks and 9 microfinance institutions that offer loan, banking and insurance products, the company has issued almost EUR 400 million worth of loans.

In June 2016, MyBucks was listed on the Frankfurt Stock Exchange (FRA:MBC). Registered in Luxembourg, the company is of African origin with active operations in 11 countries across the continent. The company is also present in Poland and Australia.

“Our company’s vision is to embrace technology as a mean to provide better financial solutions to people all over the world.  Getting listed on Frankfurt stock exchange was a major step towards showing our ambition indeed lies beyond just Africa. Partnering with Viventor, another ambitious FinTech company that seeks to provide better financial services through technology is not only another step forward for us, but also a collaboration that simply makes sense.”

Tim Nuy, Deputy CEO of MyBucks

GetBucks loans on Viventor

  • 500-50000 EUR in size
  • 12 months-48 months in duration
  • 10%-12% projected annual return
  • 60 day Buyback guarantee

The company will initially list its consumer loans from Kenya issued to local business owners. All loans are backed by a third party guarantor and have a collateral in place. In addition to the attractive yield, terms and Buyback Guarantee, all the loans will be listed in Euros. On top of that, GetBucks will maintain 5% skin in the game stake in every single loan.

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You can now invest in Swedish Krona on Mintos p2p marketplace

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For the first time on Mintos, investors now have the opportunity to invest in loans in Swedish Krona, thanks to Aasa Group.

Aasa Group is the largest loan originator on the Mintos marketplace. Established in 2010, it is one of the top alternative lenders on the Polish and Finnish markets. Since its inception, Aasa Group has issued more than 523 000 loans worth EUR 516 million. The company started its operations in Sweden in May 2017, and issues loans through Aasa Kredit Svenska AB.

Aasa Group started placing loans from Sweden on Mintos in October 2017. The consumer loans , which were initially offered in euro (EUR), will now also be available in Swedish Krona (SEK). Swedish Krona is the seventh currency you can now invest in on Mintos.

Sweden-issued loans listed on the Mintos marketplace by Aasa range from SEK 9 700 to SEK 50 000, with repayment period from 6 to 36 months. The average net return to investors will range from 7 to 13%.

For loans that are delinquent for more than 60 days, Aasa offers a buyback guarantee. The obligations of Aasa Kredit Svenska AB are guaranteed by Aasa Group. The company keeps at least 5% of each loan available on the Mintos marketplace on its balance sheet to retain its “skin in the game”.

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

If you would like to transfer SEK directly, please use the following bank details:

Bank name: SEB Sweden
Beneficiary: Paysera LT
Bank account: 531 – 6468
Replenishment currency: SEK
Payment purpose/details: EVP9410001845276 XXXXXX – Add funds to investor account (where XXXXXX is your Mintos investor ID number)
Account holder: AS Mintos Marketplace

Be sure to indicate the exact payment purpose given in the instructions to ensure that funds reach the Mintos Paysera account in time; deviations may cause a delay in the transfer and additional fees may be applied.

If you would like to use the currency exchange on Mintos, go to the “Deposit/Withdraw/FX” section in your investor’s account and choose the “Currency Exchange” tab. For EUR to SEK conversions on Mintos, there is a market-level fee of 0.5%.

If you use Auto Invest on Mintos and want to invest in Aasa loans issued in Sweden in SEK, make sure to adjust your Auto Invest settings accordingly.

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Aasa now offers loans from Sweden for investment on Mintos peer-to-peer lending marketplace

Mintos peer-to-peer lending marketplace introduce investment opportunities from Sweden.

The Scandinavian partner Aasa Group expands its presence on the Mintos marketplace by offering to invest in consumer loans issued in Sweden. Aasa already places loans issued in Poland on the Mintos marketplace since February 2017, and so far investors on Mintos have invested EUR 3 million in loans by Aasa.

Aasa Group was established in 2010 and is now among the top alternative lenders on the Polish and Finnish markets. At the end of the first half of 2017 Aasa had issued loans worth more than EUR 172 million in Poland and EUR 270 million in Finland. Aasa Group has over EUR 50 million in equity. This makes Aasa the biggest loan originator on the Mintos marketplace.

Aasa Group has advanced plans to expand in other European countries, the first of these being Sweden. Aasa started its operations in Sweden in May 2017. Aasa loans in Sweden are issued by Aasa Kredit Svenska AB. It offers consumer loans in a highly effective online channel. At the end of September 2017, Aasa Kredit Svenska AB had issued more than 2 000 loans worth over EUR 2 million.

The average Sweden-issued loan that Aasa will place on the Mintos marketplace will range from EUR 1 000 to EUR 2 000, with an average repayment period of 6 to 36 months. The loan originator will initially offer to invest in euro (EUR). Loans denominated in Swedish krona (SEK) will be added to the Mintos marketplace soon. The average net return to investors will range from 7 to 11%.

Aasa will offer a buyback guarantee for loans that are delinquent for more than 60 days. The obligations of Aasa Kredit Svenska AB will be guaranteed by Aasa Group. To retain its “skin in the game”, Aasa will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

Aasa’s mission is to provide fast and convenient access to financial products and services based on transparency, promptness, simplicity and safety. Aasa always provides mid-size consumer loans priced similarly to banks, which differ greatly from single instalment payday loans.

The key to Aasa’s business model is the efficient use of the lending platform and unique credit scoring algorithms. When combined, they are able to serve a large number of customers, while accurately controlling credit risk. To evaluate the creditworthiness of clients, Aasa employs sophisticated in-house big data methodology. Their scoring uses both classical variables such as income, employment and age, as well as big data such as customer behaviour on the website, time of application and other indicators crucial for the final decision.

“We are so excited to expand Aasa operations together with the Mintos marketplace. We started our cooperation with Mintos by offering products on the Polish market and now we see a huge opportunity to reach our goals in other important countries also with Mintos marketplace investors. The consumer lending market is a fast-growing investment opportunity. Funding through Mintos contributes to the diversification of our financing structure, offering us the flexibility to grow our portfolio” emphasises Meliina Räty, Chief Strategy Officer responsible for Aasa Group’s expansion.

“We are truly excited that Aasa Group is extending its presence on the Mintos marketplace. Aasa gives investors the opportunity to significantly diversify their investment portfolio by investing in low-risk loans originated by an established loan originator in Europe,” says Martins Sulte, CEO and co-founder of Mintos.

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