Tag Archives: Mintos

Home / Posts Tagged:

GetBucks, Africa’s leading alternative lending company, joins Mintos marketplace

By MPI16th June 2017News, Peer-to-Peer LendingAfrica, GetBucks, loan originator, marketplace, Mintos, peer-to-peer lending

GetBucks, part of the Frankfurt-listed fintech company, MyBucks, has started placing short-term personal loans issued online in Poland on the Mintos marketplace. MyBucks operates across three continents – Africa, Europe, and Australia. It is planned to offer loans issued in Africa on the Mintos marketplace soon.

The average loan GetBucks will place on the Mintos marketplace is EUR 250, with a repayment period of 30 days. The loan originator will offer investment opportunities in both euro (EUR) and Polish Zloty (PLN). The average annual net return to investors will reach 11%.

GetBucks will further offer a buyback guarantee for loans that are delinquent for more than 60 days and will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

The Luxembourg-registered MyBucks Group is the first African fintech company to be listed on the Frankfurt Stock Exchange. In 2017, the company also successfully listed bonds on the Vienna, Botswana, and Zimbabwe stock exchanges to refinance existing debt facilities and to expand its loan book. Current market capitalization of the company is in excess of EUR 170 million.

Over the last three years, MyBucks Group’s revenues have grown by approximately 163% per annum, and its loan book has almost doubled during the last year alone, standing at EUR 77.2 million at the end of 2016. The company’s revenue in the first half of 2017 has reached EUR 25.7 million with an operating profit of EUR 10.2 million.

GetBucks has developed unique credit scoring technology with self-learning algorithms that allow the company to keep a low default rate below 8%. The company distributes its product portfolio through digital channels and internet service points, which has allowed it to scale rapidly while also managing its credit risk effectively.

Consumer finance company IuteCredit has joined the Mintos marketplace

By MPI6th June 2017News, Peer-to-Peer LendingIuteCredit, loan originator, Mintos, peer-to-peer lending

Consumer finance company IuteCredit has joined the Mintos marketplace and is placing personal loans issued in Albania on the marketplace. IuteCredit Group is an Estonia-based company that operates in Albania and Moldova. It aims to be the fastest and most comfortable credit provider in the region.

The average annual net return for IuteCredit loans offered to investors is expected to reach up to 14%. The average loan placed on the Mintos marketplace will be for EUR 500-700 with a maturity of 12-18 months. Loans delinquent for more than 60 days will be covered by a buyback guarantee. To retain its “skin in the game”, the company will keep at least 10% of each loan available on the Mintos marketplace on its balance sheet.

Since its founding in 2014, IuteCredit Albania has issued 20 000 consumer loans ranging from EUR 75 to EUR 1 500. The company’s loan portfolio has reached EUR 3.4 million. The average share of loans 30 days past due is 14%. To sustain its operations, the company employs a team of 24. The company’s operations are regulated by the Central Bank of Albania.

Apart from its operations in Albania, IuteCredit Group owns a subsidiary in Moldova, founded in 2008. The management of IuteCredit Group is also considering placing loans issued in Moldova on the Mintos marketplace in the near future.

IuteCredit Group has been profitable since 2010 and is audited by Ernst & Young. As of May 2017, the Group’s consolidated loan portfolio exceeds EUR 10 million. The company has more than 120 000 customer relationships and more than 35 000 loans outstanding. The average maturity of loans is 11 months, and the annual percentage rate (APR) is 70%. Historically, more than 90% of loans issued have been repaid in full.

First loan originator from China joins Mintos marketplace

By MPI24th May 2017News, Peer-to-Peer LendingChina, loan originator, Mintos, PangMaoBao, peer-to-peer lending

New loan originator from China joins Mintos peer-to-peer lending marketplace! PangMaoBao will offer investors to invest in invoice-financing loans. PangMaoBao is a part of Zhaogang group, the biggest e-commerce platform in China connecting steel makers and buyers. PangMaoBao provides supply chain financing against outstanding invoices to well-known companies such as Amazon, Disney, DHL, Siemens and others.

The average loan that PangMaoBao will place on the Mintos marketplace will have a repayment period of 30 to 90 days. The loan originator will initially offer investment opportunities in EUR and USD.

It is expected that the average annual net return to investors will be around 6-7%. PangMaoBao will offer a buyback guarantee for loans that are delinquent for more than 60 days. To retain its “skin in the game”, PangMaoBao will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

Since its start in May 2015, PangMaoBao has reached 2 300 registered customers, and more than EUR 27.3 million in loans have been issued to date. In 2016, the company issued loans worth EUR 17 million and generated EUR 1.1 million in revenue.

PangMaoBao ensures comprehensive and detailed credit assessment and risk control. By accumulating real-time data from Zhaogang to aid in risk management, they have ensured a bad debt rate of 0%, meaning investors face relatively low risk when investing in these loans.

Founded in 2012, Zhaogang is the biggest e-commerce platform for the steel industry in China. Zhaogang is based in Shanghai and has more than 1 400 employees. Zhaogang operates 46 branches throughout China and Asia, including branches in South Korea, Vietnam, Thailand and the United Arab Emirates. Its revenue reached RMB 14.1 billion (EUR 1.9 billion) in 2015. Zhaogang has received backing from major venture capital firms in both China and abroad, including IDG, Sequoia Capital, Matrix Partners China and Zhen Fund. In January 2016, Zhaogang completed RMB 1.1 billion (EUR 151 million) series E round of financing, potentially the last round of financing before it is listed on the domestic stock market.

Zhaogang has received high praise in the industry, including the following awards: “2016 China’s Annual Innovation and Growth of 100 Enterprises, 2016 Best Internet Finance Social Responsibility Award”, “Top 100 China’s Internet Companies of 2016”, and others.

Capital Service joins the Mintos marketplace

By MPI21st April 2017News, Peer-to-Peer LendingCapital Service, loan originator, Mintos, Poland

New loan originator from Poland joins the Mintos marketplace! Capital Service has joined Mintos and, starting 23/03/2017, will place installment loans issued on- and offline in Poland on the platform.

Capital Service operates the second-largest non-bank lending branch network in Poland. The company was founded in 1999 and has accumulated significant experience in consumer lending over the past 18 years. Capital Service loans placed on the marketplace will range in size from EUR 250 to EUR 3 600, with a repayment deadline of 3 to 48 months. The net annual return is expected to range from 10% to 12%. For each loan placed on the Mintos marketplace, Capital Service will retain at least 10% on its balance sheets – part of its “skin in the game.” Capital Service will offer a buyback guarantee for loans that are delinquent for more than 60 days.

Investment opportunities from Capital Service will be offered in euro (EUR) and Polish zloty (PLN).

Capital Service employs more than 430 people. Since beginning operations, it has gained more 51 000 active customers. Last year, Capital Service had a revenue of EUR 19.2 million, with profit before tax slightly above the EUR 1.8 million mark. Its equity stood at EUR 5 million at the end of 2016. The share of loans overdue by more than 60 days in the company’s portfolio is 7.5%.

Capital Service’s mission is to provide customers with simple access to cash – quickly, conveniently, at any time, in any place and at a reasonable cost. The company uses the newest IT solutions to allow for fast and efficient data processing and loan issuing decisions.

To date (23/03/2017), 21 loan originators have joined the Mintos marketplace, ensuring investors with wide investment options.

New loan originator on Mintos marketplace – Mozipo Group

By MPI21st April 2017News, Peer-to-Peer Lendingloan originator, Mintos, Moment Credit, Mozipo Group, peer-to-peer lending

One of Lithuania’s biggest online consumer loan lenders has joined the Mintos marketplace! Starting 22/03/2017, Mozipo Group will place short-term personal loans issued in Lithuania under the Moment Credit brand on the platform.

Loans that Mozipo Group will place on the Mintos marketplace are expected to range from EUR 100 to EUR 3 000, with a repayment period of 3 to 36 months. The loan originator will offer investment opportunities in euro (EUR).

The average net return to investors is expected to be around 12%. Mozipo Group will offer a buyback guarantee for loans that are delinquent for more than 60 days. To retain its “skin in the game,” Mozipo Group will keep at least 10% of each loan available on the Mintos marketplace on its balance sheet.

Mozipo Group has been operating for more than ten years. The Group is known in the industry as a reliable, transparent and responsible non-bank financial institution. Currently, Mozipo Group works in Denmark, Lithuania and Romania, and plans to expand to other European countries. The company currently employs more than 60 people.

Mozipo Group issues unsecured personal loans. Since beginning its operations, the Group has served more than 200 000 customers. The company has issued 620 000 loans worth over EUR 125 million. Last year, Mozipo Group earned EUR 3.9 million in revenue, with a net profit of EUR 526 000. Their loan portfolio was EUR 9.3 million. The company plan to issue loans worth EUR 23 million this year.

Mozipo Group’s average client is a 36-45 year old city resident with an average monthly income. Issued loans are primarily used to cover daily and unexpected expenses.

An effective risk scoring system reduces the number of non-performing loans issued, thereby increasing Mozipo Group’s competitiveness in the market.

All of the fundamental and operational business-related processes in Mozipo Group are managed in-house, which ensures high quality service. The Mozipo Group IT department has created a unique self-learning Scoring System as well as an automated Business Management System for Lithuania; these are also easily adapted for other countries.

The company’s mission is to make consumer lending more efficient by using technology to connect money with people in the simplest and fastest way possible.