Lendo – Passive income

Lendo has published its latest operational results

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.

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

By MPI29th July 2017News, Peer-to-Peer LendingGeorgia, Lendo, loan originator, Mintos, Mintos OU, peer-to-peer lending

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.