Tag Archives: Creditstar

Creditstar list their Estonia-issued loans on Mintos p2p lending marketplace

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Creditstar has increased the investment opportunities it offers on Mintos! Now, you can invest in personal loans issued by its Estonia-based subsidiary Monefit and earn net annual returns of up to 12% . This is in addition to Creditstar’s loans that are already available for investment issued in Poland, Spain, Czech Republic and Finland.

Established in 2013, Monefit offers its borrowers flexible revolving lines of credit, where the borrower chooses how much they need to borrow at any point in time and can manage the details through a mobile app.

Estonia-issued loans from Monefit on the marketplace will range from EUR 50 to EUR 3000 with a maturity up to 60 months. You can expect a net annual return of up to 12%.

All loans placed on Mintos by Monefit have a buyback guarantee and will be repurchased if the loan is delinquent for 60 days or more. The company will also keep 5% of each loan it places on the marketplace on its balance sheet to maintain its skin in the game. Monefit will have a group guarantee, meaning the obligations of Monefit will be guaranteed by Creditstar Group.

Creditstar Group was established in 2006 and provides consumer financial services in Europe. Creditstar is headquartered in Estonia, where the company is one of the largest providers of online credit. The company has gained the trust of more than half a million registered users in eight countries across Europe.

Creditstar Group has a strong equity position, with more than EUR 18 million in equity and EUR 85 million in assets. The company has also delivered consistent profitability every year since its inception in 2006. The aggregate net loan portfolio of Creditstar Group was EUR 78 million as of September 2018.

Creditstar Group puts a strong emphasis on responsible lending policies and high-quality customer service. The typical Creditstar customer is an active, young male, 26-35 years old, living in a small town. The company has a strict credit policy with only approximately 30% of applications accepted. Debt collection companies are involved in the recovery of non-performing loans.

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Creditstar offers loans granted in the Czech Republic on Mintos marketplace

Creditstar Group is strengthening its presence on the Mintos marketplace by offering short-term and personal loans granted in the Czech Republic. Loans will be listed both in euro (EUR) and Czech koruna (CZK).

Creditstar is one of the leading non-bank lenders in Europe, offering unsecured consumer loans in eight countries. The Czech Republic is the third Creditstar country, alongside Poland and Spain, that will have loans on the Mintos marketplace. To date, Creditstar loans worth more than EUR 8.4 million have already been financed through the Mintos marketplace.

Czech Republic-issued Creditstar loans on the Mintos marketplace will range from CZK 1 000 to CZK 19 000, with a repayment period of up to three months. The average net annual return to investors will reach 12%.

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

The company puts a strong emphasis on responsible lending policies and individual customer service. The typical Creditstar client is an active, young male, 26-35 years old, living in a small town. Creditstar has a strict credit policy – only around 30% of applications are accepted. Debt collection companies are involved in the recovery of non-performing loans.

The company is headquartered in Estonia, where Creditstar is a market leader with a 40% market share. Creditstar has established subsidiaries and provides services in Estonia, Lithuania, Poland, the Czech Republic, Finland, Sweden, Spain, and the United Kingdom. The total number of active customers throughout the Creditstar Group currently exceeds 272 000.

The aggregate loan portfolio of Creditstar Group was EUR 52 million as of June 2017. The company has EUR 13.1 million in equity and EUR 58.8 million in assets. Creditstar has been profitable each year since its founding in 2006. Last year, it generated EUR 1.6 million in net profits.

At the beginning of the year, Creditstar Group was also selected as one of 10 Ruban d’Honneur recipients for the ELITE Award for Growth Strategy of the Year in the 2016/17 European Business Awards. Creditstar was one of only 110 finalists announced; over 33 000 businesses participated in the competition. The panel of independent judges praised Creditstar for its strong growth and core values of innovation, ethics, and success.

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