Tag Archives: Georgia

Mogo has just launched its Georgia-issued secured car loans on Mintos p2p lending marketplace

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Mogo is now offering investors even more investment opportunities on the marketplace, as Mogo Georgia has just launched on Mintos. Mogo is the largest non-bank car loan provider in the Baltic region, and Mogo Georgia is a market leader for non-bank car loans in Georgia. Investors can now invest in its Georgia-issued secured car loans listed in Euro (EUR) and Georgian lari (GEL) on the marketplace.

Established in 2012, Mogo’s business model is based on its fast customer service and open communication. As a result, the company has more than 40 000 clients worldwide. Headquartered in Latvia, it also has operations in Albania, Armenia, Bulgaria, Estonia, Georgia, Lithuania, Moldova, Poland and Romania.

The average Georgia-issued car loan from Mogo is around EUR 1 500 and GEL 4 500, with a typical repayment period of 33 months. Investors can expect an annual net return of up to 14% for its loans listed in EUR loans and up to 18% for its GEL loans.

To maintain its skin in the game, Mogo will keep 5% of each loan. All Georgia-issued loans from the company are secured with a buyback guarantee and will be repurchased if a loan is delinquent for 60 days or more.

Mogo Georgia was founded in June 2014 and has since issued 35 781 loans worth more than EUR 55.7 million. The company offers residents of Georgia car loans with repayment periods up to 72 months and allows borrowers to receive their loan on the same day of their application.

The typical borrower from Mogo Georgia is a male who is 32 years of age. He has a regular income and is approaching Mogo because he wants a simple, fast and hassle-free service. Whilst a bank is the cheaper option to receive a loan in Georgia, they also require many documents and there can be a lengthy waiting time to receive the funds. Banks also try to avoid supplying financing for used cars and only disburse these loans for their long-term clients. Therefore, Mogo is the fastest way to buy a car with minimal down-payment, as well as receive a loan quickly by using your car as collateral.

Mogo launched on Mintos in 2015 and so far around EUR 132 million has been invested in its loans on the marketplace. In addition to the Georgia-issued loans, Mogo also offers you the opportunity to invest in its loans from Bulgaria, Estonia, Latvia, Lithuania, Poland and Romania, as well as unsecured personal loans from Latvia, on Mintos. These investment opportunities are now available in four currencies – EUR, British pound (GBP), GEL and Polish zloty (PLN).

ID Finance now offers Georgia-issued loans for investment in EUR on Mintos P2P lending marketplace

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ID Finance now offers its Georgia-issued personal loans on Mintos for investment in euro (EUR). These loans are the same as the Georgia-issued loans already on the marketplace from ID Finance listed in Georgian lari (GEL) – but in EUR for your convenience.

“Georgia is a country with great business opportunities. It has about four million people and promises serious growth of the fintech industry in the next few years. With this move, we have removed the currency risk for EUR investors. The five-fold growth of ID Finance’s revenue from the beginning of 2017 gives investors the confidence in high profitability and security of investments,” says Boris Batine, co-founder and CEO of ID Finance.

The average Georgia-issued loan from ID Finance on Mintos is EUR 1 000, with a repayment period of up to 12 months. The annual net return offered to investors in EUR will reach 11%.

The typical ID Finance borrower in Georgia is a 35-year-old highly-educated male. He is married and raising a child. He owns a house or an apartment, has a full-time job and earns 10-15% more than the average Georgian citizen.

ID Finance will offer a buyback guarantee for loans that are delinquent for more than 60 days. For each loan placed on the Mintos marketplace, the company will keep at least 10% on its balance sheets to retain its skin in the game.

Since joining Mintos in March 2017, more than EUR 10 million has been funded. ID Finance has issued 1.3 million loans worth USD 300 million to date. For the first 10 months of 2017, ID Finance issued loans worth USD 152 million and generated USD 100 million in revenue, a 93% period growth. The company has been profitable since 2015.

Established in 2012, ID Finance is the largest online consumer lender in the CIS region and a leading one in Europe. ID Finance has over 4.2 million registered customers. The company’s headquarters are in Barcelona, and it operates in Spain, Kazakhstan, Georgia, Poland, Russia, Mexico and Brazil. Following the company’s geography expansion plans, ID Finance is boosting its presence in Latin America.

New loans for investment from ID Finance in Georgia

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ID Finance has further diversified investment opportunities on the Mintos marketplace by adding personal loans issued in Georgia under its Solva brand. Solva is a fully-owned ID Finance subsidiary in Georgia. It has disbursed 28 000 loans worth EUR 12 million since beginning operations in late 2016.

ID Finance joined Mintos in March 2017, offering investors the opportunity to invest in personal unsecured loans issued in Spain.

“We are pleased to expand cooperation with the Mintos marketplace. Solva is an innovative product in global online lending. It was developed for prime clients and offers attractive terms of personal loans. Solva closely approximates conventional bank loans with additional focus on transparency, ease and convenience of service. Thanks to our technological innovation and efficient business model, we can offer investors a high annual net return,” says ID Finance co-founder and CEO, Boris Batine.

The average Georgia-issued loan ID Finance will place on the Mintos marketplace will be EUR 1000, with a repayment period of up to 12 months. Investors will be able to invest in Georgian lari and in euro. The annual net return offered to investors will reach 16%.

The loan originator will offer a buyback guarantee for loans that are delinquent for more than 60 days. In July 2017, the share of non-performing Solva loans was 4%.

To retain its skin in the game, ID Finance will keep at least 10% of each loan available on the Mintos marketplace on its balance sheet.

Solva’s key innovation is its unique scoring system. The company’s decision-making system is built around machine learning, probabilistic risk assessment techniques, multiple search technologies, big data and text mining. The system also evaluates the device on which the application is being filled out and the user’s behaviour when filling out the application. These techniques support a positive decision on granting loans to users who are usually denied loans by banks.

ID Finance group is a fast-growing data science, credit scoring and digital finance provider that is pioneering fintech in emerging markets. The company was established in 2012; it is now the largest online consumer lender in CIS region and a leading one in Europe. Headquartered in Barcelona, the company operates in Spain, Kazakhstan, Georgia, Poland, Russia and Brazil, and plans to boost its presence in Latin America in the near future.

ID Finance has over 3.8 million registered customers, and more than 1.126 million loans worth USD 240 million have been issued to date. In 2016, ID Finance issued loans worth USD 92 million and generated USD 68 million in revenue, a 222% y-o-y growth. The company has been profitable since 2015.

ID Finance has received high praise in the industry, including many prestigious awards. In 2017, it was named the Fastest Growing Alternative Finance Company in Europe 2017 by Global Banking & Finance Review magazine.

Invest in new loans offered by ID Finance, and be sure to add ID Finance loans issued in Georgia to your Auto Invest portfolio.

New structure for investments in Lendo loans on Mintos peer-to-peer lending marketplace

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Starting from August 3, 2017, there will be a new structure for investing in Lendo loans on the Mintos marketplace. The new structure stems from new regulations imposed by the local supervisory authorities in Georgia, where Lendo operates.

How will the new process work?

To obtain exposure to Lendo loans, investors will be able to invest in loans issued by Mintos OU to Lendo, where repayments depend on the final borrower’s payments. Each loan issued by Mintos OU to Lendo will be pegged to a respective loan issued by Lendo to the final borrower.

Mintos OU is a Mintos group company. A detailed description of the new structure is available in the Mintos OU loan contract and assignment agreement.

How will the new structure affect investors?

Investors making investments according to the new structure will still gain exposure to Lendo-issued loans. Previously, investors had a direct claim against the final borrower; now, investors will have a claim against the loan originator – Lendo.

Because investments made will still be pegged to the loan performance of loans issued by Lendo, current Auto Invest functions for investing in Lendo loans will remain valid for loans placed on the Mintos marketplace under the new structure. If the change in investment structure affects your investment preferences, please be sure to adjust your Auto Invest settings accordingly.

About Lendo

Lendo joined the Mintos marketplace in July 2016, and has since become one of the top loan originators on the marketplace. The company offers investments in short-term unsecured loans issued in the largest cities in Georgia. So far, Lendo loans worth more than EUR 80 million have been funded through the marketplace.


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