DKK – Passive income

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

By MPI25th June 2018News, Peer-to-Peer Lendingbuyback guarantee, consumer loans, DKK, EUR, invest, investors, Mintos, Short-term loans, Simbo.dk, Toms Jurjevs

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.

Mozipo Group now offers to invest in personal loans from Denmark

Thanks to Mozipo Group, investors on Mintos now have even more investment opportunities in Denmark. Personal loans issued by Mozipo in Denmark are now available on the Mintos marketplace in euro (EUR), and soon loans in Danish krone (DKK) will be added as well.

Mozipo Group has built a strong reputation for itself since it was established in Lithuania more than a decade ago. Mozipo is known for being a reliable, transparent and responsible non-bank financial institution. The company was one of the first to offer online and SMS credit solutions. Mozipo Group operates in Lithuania, Denmark and Romania, and plans to expand to five more countries in the near future.

Denmark-issued Mozipo Group loans listed on the Mintos marketplace will range from EUR 65 to EUR 945. The repayment period will be up to one year. Investors can expect an annual return of 11%-13%.

Mozipo will offer a buyback guarantee for loans that have been delinquent for more than 60 days. The obligations of Mozipo Denmark will be guaranteed by Mozipo Group. To keep their skin in the game, Mozipo will retain 10% of each loan put on Mintos on their balance sheet.

Mozipo Group has been trusted by more than 230 000 customers. The average borrower of Mozipo is a 36-45-year-old city resident. They have an average monthly income and use the loans to primarily cover daily and unexpected expenses.

Since 2007, the company has issued 660 000 loans worth over EUR 135 million.

Mozipo Denmark started its operations at the end of 2016 and it has attracted over 17 000 clients. Since then, the company has issued more than EUR 3 million worth of loans in Denmark.

Mozipo Group’s business model is based on the use of efficient technologies. The company has developed a unique risk scoring system, reducing the number of non-performing loans issued. In Denmark, the share of non-performing loans is recently below 34%.

Since Mozipo joined Mintos in March 2017, its loans from Lithuania and Romania worth EUR 6 million have been funded through the Mintos marketplace.