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Update 2 on Eurocent loans on Mintos peer-to-peer lending marketplace

By MPI6th February 20181 commentNews, Peer-to-Peer Lendingcompulsory administrator, Eurocent, Mintos, peer-to-peer lending

As the compulsory administrator was appointed to Eurocent, all commercial decisions now require his approval. Because of this, regular settlements with Mintos were stopped by Eurocent in December 2017. Meanwhile, the District Court of Krakow has not yet reached a decision whether Eurocent can commence the formal restructuring process.

The management of Mintos continues to be in close contact with the administrator of Eurocent about the company’s situation and possible future developments. Currently, Mintos is in the process of evaluating all options to retrieve the outstanding amount owed to investors on Mintos.

You can now invest in loans issued in Kenya by Watu Credit on Mintos p2p lending marketplace

By MPI30th January 2018News, Peer-to-Peer Lendingkenya, Mintos, peer-to-peer lending, personal loans, Watu Credit

Kenya has just been added to the list of countries on Mintos! This is the second country from Africa and the 18th to be represented on the Mintos marketplace. Thanks to Watu Credit, you now have the opportunity to invest in Kenya-issued personal loans and reap returns of up to 13% per year.

Established in 2015, Watu Credit offers asset financing and business loans for small businesses. Headquartered in Mombasa the company is currently expanding with branches already opened in Nairobi, Malindi, Nakuru and Mombasa region.

“Watu Credit is pleased to join the diverse family of loan originators on Mintos. With a population of 48 million and sustained economic growth, Kenya offers a dynamic crediting environment. Watu Credit prides itself on having established in a short period an expedient, efficient and customer oriented product for previously under-serviced customer segments thanks to a dedicated team and proprietary IT solutions. Our partnership with Mintos will ensure Watu Credit’s growth into other Kenyan regions,” says Andris Kaneps, CEO of Watu Credit.

Kenya-issued loans placed on Mintos by Watu Credit are personal loans offered to individuals wishing to purchase motorbikes and three-wheelers (tuk-tuks) for their business. Loans range from EUR 800 to EUR 1 600. The average repayment period is 14 months with a weekly repayment schedule. Investors can expect a yearly return of up to 13%. All loans placed on the marketplace by Watu Credit are secured by the vehicles purchased with the loan.

To keep its skin in the game, Watu will retain 15% of each loan placed on Mintos on its balance sheet. The company offers a buyback guarantee for all loans that are delinquent for more than 60 days. Historically, Watu Credit has a delinquency rate of 7%.

Watu Credit currently has 68 employees, and since its inception has gained 7 750 active clients. As of the third quarter of 2017, Watu Credit had an outstanding loan portfolio of around EUR 1.6 million and had issued more than EUR 5 million worth of loans.

Invest in short-term loans issued in Latvia by Bino.lv on Mintos P2P lending marketplace

By MPI13th December 2017News, Peer-to-Peer LendingBino.lv, Mintos, Short-term loans

One of the largest and fastest growing short-term consumer lending companies in Latvia – Bino.lv – has just joined Mintos. Bino.lv has placed on the marketplace short-term loans with an expected annual return of up to 12.5% for you to invest in.

Bino.lv was launched in February 2017 and has had strong growth ever since. The company may have been established just recently, but the management team of Bino.lv has around 10 years’ experience in the fintech industry. The CEO of Bino.lv, Toms Jurjevs is the former Regional Director of 4Finance – a global market leader in online consumer financing.

The experience of the management team can be seen in the rapid success of the company, as Bino.lv is already among the leading lending companies for short-term consumer loans in Latvia. Bino’s data-driven approach has enabled it to build a strong performing net loan portfolio of EUR 4.6 million relatively quickly.

“At Bino.lv we use the latest technology and a data-driven approach to score our clients and issue loans. This has enabled us to build a strong performing portfolio that we are proud to list on the Mintos marketplace. We are excited to start this collaboration and believe that our loans will be a great opportunity for investors all around the world,” says CEO of Bino.lv Toms Jurjevs.

On the marketplace, the short-term Latvia-issued loans range from EUR 50 to 425. The loans have a 30 day maturity and an expected yearly return up to 12.5%. Bino.lv will keep 10% of each loan placed on Mintos on its balance sheet to keep its skin in the game. All loans on Mintos from Bino.lv are secured with a buyback guarantee.

To obtain exposure to Bino.lv loans, investors will be able to invest in loans issued by Mintos Finance to Bino.lv, where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to Bino.lv will be pegged to a respective loan issued by Bino.lv to the final borrower. Mintos Finance is a Mintos group company.

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

By MPI13th December 2017News, Peer-to-Peer LendingEUR, Georgia, ID Finance, Mintos, personal loans

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.

GetBucks offers new investment opportunities from Botswana on Mintos P2P lending marketplace

By MPI13th December 2017News, Peer-to-Peer LendingBotswana, buyback guarantee, GetBucks, long term, Mintos, personal loans

Thanks to GetBucks the Mintos marketplace now has even more investment opportunities in Botswana. In addition to short-term loans, investors can now also invest in longer-term personal loans issued by GetBucks in Botswana.

Personal loans issued by GetBucks in Botswana have one of the lowest default rates on the market. This is due to special agreements which allow for monthly payments to be deducted from the borrower’s salary.

GetBucks personal loans in Botswana are issued by two GetBucks subsidiaries, GetBucks Botswana and TU Employee Benefits (Proprietary) Ltd. Both subsidiaries have special agreements with workers unions – GetBucks Botswana has an agreement with the Botswana Government Workers Union, while TU has an agreement with the Botswana Teachers Union.

Borrowers of both subsidiaries are mostly taking out loans for either personal consumption, or to pay for education. Larger loans are used for home and farm renovations or to purchase cattle.

Botswana-issued GetBucks loans, ranging from around EUR 82 to EUR 40 740 are now available for investment on Mintos. The repayment period is from 6 to 36 months. The expected annual net return for investors is 11-13%.

For loans that are delinquent for more than 60 days, GetBucks will provide a buyback guarantee. To maintain its skin in the game, the company will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet. The obligations of GetBucks Botswana and TU will be guaranteed by the MyBucks Group.

Established in 2011, GetBucks is part of the Frankfurt-listed fintech company MyBucks. The Group operates in 12 countries across three continents – Africa, Europe and Australia. The company offers customers unsecured consumer loans, banking solutions and insurance products through its different brands.

TU was founded in 2012 and has granted EUR 27 million worth of loans. GetBucks Botswana was established in 2012 and has provided EUR 8 million worth of loans. GetBucks has three subsidiaries in Botswana – Cashcorp, GetBucks Botswana and TU. Together, they have funded EUR 35.3 million worth of loans.

The revenue for MyBucks has been growing at a rapid pace over the past four years, reaching EUR 62.2 million by the end of their fiscal year in June 2017. In the past year, the group’s operating profit has grown over 30% to EUR 14.5 million.

GetBucks joined the Mintos marketplace in June 2017, initially offering short-term personal loans for investment issued in Poland. The company began offering loans from Botswana in August 2017. GetBucks has funded loans worth EUR 2 million through Mintos.

New Mintos “Invest in long-term” cashback campaign launched

By MPI5th December 2017News, Peer-to-Peer Lendingcashback, loans, long term, Mintos

For a limited time, Mintos is offering a bonus for investing in long-term loans. Until December 31, 2017, for each new investment you make on the primary market in loans with a maturity of two years or more, Mintos will pay an immediate cashback. The longer the loan maturity – the larger the cashback. We will offer up to 5% of the sum invested:

Cashback amount	Maturity of loans
5%	60 months or more
4%	48 to 59 months
3%	36 to 47 months
2%	24 to 35 months

To participate in the campaign, you need to have enrolled by clicking a button on the campaign page which can be found on your Investor’s Account once you login on Mintos.

“Investing long-term has many benefits. Loans with a maturity of two years and more on average have higher interest rates. As the maturity of these loans is longer, these higher rates can be locked-in for longer as well, thus avoiding cash drag effect. Also, investing in long-term loans allows for a better diversification, because this way investors can access types of loans and borrowers that have a different profile than the average short-term loan takers. We hope that in combination with our cashback campaign, all of these benefits will help our investors reach their investment goals in a more efficient and rewarding way,” says Martins Sulte, CEO and co-founder of Mintos.

If you are a new investor, don’t forget that you can get 1% bonus of your invested amount (more info here).

For other bonuses visit our Cash-back & Bonuses page.

First loan originator from Russia joins Mintos p2p lending marketplace

By MPI5th December 2017News, Peer-to-Peer LendingEcoFinance, Mintos, Russia, Short-term loans

Mintos welcomes the first loan originator to offer investment opportunities from Russia on the marketplace – EcoFinance. The lender offers investments in online unsecured personal loans issued in Russia under its CreditPlus brand. EcoFinance loans on the Mintos marketplace initially will be listed in euro (EUR).

“We welcome our first loan originator to offer short-term loans from Russia on Mintos. EcoFinance is a great addition to our marketplace, which increases diversity and brings new opportunities to our investors,” says Mintos CEO Martins Sulte.

Established in 2015, EcoFinance has become one of the leading consumer lenders for subprime and underbanked clients in Russia. The company is run by seasoned banking executives with vast international experience in finance and IT technologies. EcoFinance has over 1.6 million registered client accounts. As of October 2017, more than EUR 16 million in loans were funded by EcoFinance. The company has a share capital of around EUR 1 million.

Russia-issued EcoFinance loans on the Mintos marketplace will range from EUR 15 to 440, with a repayment period of up to 30 days. The expected net annual return for investors will reach 10-11%.

“We are excited to be the first loan originator from Russia to join the Mintos marketplace. Our new strategic partnership with Mintos will allow us to grow faster, and broaden and diversify our funding sources. We challenge ourselves to provide the highest quality service to all our clients, both borrowers and investors,” says Ecofinance CEO Leonid Dulenkov.

EcoFinance puts a strong emphasis on responsible lending. The company has its own algorithms to automate the process of assessing the creditworthiness of clients. Their online service allows borrowers to send loan applications via SMS or website, and funds can be accessed after two minutes. EcoFinance holds a full general microfinance company license provided by the Central Bank of Russia.

Typical EcoFinance borrowers are between 28 and 45 years old. Their average salary is around EUR 445 per month. They borrow money to cover gaps between paychecks to purchase medicine, pay for repairs on their apartment or vehicle, buy clothes or for other urgent needs. They usually repay the loan at the end of the period in one instalment.

Investment structure

Taking into consideration legal requirements and investors’ interests, investors will be able to obtain exposure to EcoFinance loans by investing in loans issued by Mintos OU to Mintos Finance SIA, both Mintos Group companies.

Repayment of each loan issued by Mintos OU to Mintos Finance SIA will be pegged to repayment of a respective loan issued by EcoFinance to its borrower. Mintos OU loans will be secured by a pledge on claims arising from Mintos Finance collateralized loans issued to EcoFinance.

Mintos Finance will provide funding to EcoFinance up to 90% of the principal of a respective loan EcoFinance has issued to its borrower. Accordingly, EcoFinance will keep 10% skin in the game. EcoFinance will repay the loan to Mintos Finance in lockstep with repayment of the respective loan EcoFinance has issued to its borrower.

Should the borrower’s loan become 60 days delinquent, EcoFinance will repay Mintos Finance the respective part of the loan received from Mintos Finance in full, together with accrued interest. Mintos Finance will then repay the related Mintos Finance-Mintos OU loan to Mintos OU in full and with accrued interest, and Mintos OU will buyback the claims on this loan from investors.

EuroOne from Spain joins the Mintos p2p lending marketplace

By MPI29th November 2017News, Peer-to-Peer Lendingartificial intelligence, EuroOne, Mintos, peer-to-peer lending, Short-term loans, Spain

The Mintos marketplace welcomes EuroOne, a new loan originator from Spain. EuroOne offers to invest in short-term unsecured personal loans issued online under its NetCredit and LunaCredit brands.

“We are proud to be part of the Mintos marketplace. This is a great opportunity for investors, as EuroOne offers a valuable alternative for today’s underbanked segment in Europe. The vast experience of the management team with artificial intelligence gives EuroOne an advantage over its competitors, as we make smart decisions in real-time,” says Denis Kalinin, CEO of EuroOne.

EuroOne loans available for investment on the Mintos marketplace will range from EUR 300 to EUR 1 000, with a repayment period of up to 30 days. The average net annual return to investors will range from 11 to 13%. Initially, the loans will be listed on Mintos at an introductory rate of 13%.

EuroOne loans will be supplemented with a buyback guarantee covering loans delinquent for more than 60 days. EuroOne will keep at least 10% of each loan on the Mintos marketplace on its balance sheet.

EuroOne Group is an artificial intelligence company that builds financial solutions for underbanked consumers. It was established in March 2017 in Berlin. The company employs a multinational team consisting of 30 highly skilled employees working in offices in the United Kingdom, Germany and Spain.

To launch company operations in Spain, EuroOne purchased Rapido Finance SLU issuing short-term loans under the NetCredit brand in August 2017. The acquired subsidiary was established in 2016 and has issued 20,000 loans worth EUR 6 million to date.

EuroOne plans to gain significant market share in the region by expanding in Spain and entering new markets. The product portfolio of EuroOne currently includes short-term and personal loans, with more consumer products planned in the near future.

80% of EuroOne’s customer base comes from mobile. EuroOne customers are aged between 22-70 and earn between EUR 800 and EUR 2000 a month. Typically they borrow money to cover unexpected expenses, such as medical expenses, home repairs or helping family and friends.

EuroOne creates consumer finance loans by using sophisticated artificial intelligence techniques and tight scoring applications. EuroOne proprietary technology calculates the expected lifetime value (LTV) for each prospect by using hundreds of data points acquired from traditional and nontraditional sources, such as information from Internet browsers and telecom providers.

Mogo is first on Mintos P2P marketplace to offer investments in GBP

By MPI27th November 2017News, Peer-to-Peer Lendingcar loan, GBP, invest, Mintos, Mogo, peer-to-peer lending, Poland

Great news for investors looking to invest in British pounds (GBP)! Non-bank car loan provider Mogo now lists its loans issued in Poland in GBP on the Mintos marketplace. GBP is the eighth currency investors can invest in through Mintos.

“Seeing the rapidly growing number of investors from the United Kingdom and the high demand for loans listed for investment in GBP on Mintos, we decided to list our loans from Poland also in GBP. We are sure this move will be beneficial for investors on Mintos and our business, as well,” says Māris Kreics, CFO of Mogo Finance.

Mogo loans available on the Mintos marketplace for investment in GBP will be the same as Poland-issued loans already listed on Mintos in PLN. Loans will range from GBP 254 to GBP 7 350, with a repayment deadline of 6 to 48 months. The annual net return to investors will range from 8.5% to 13%. Mogo will offer a buyback guarantee for loans that are delinquent for more than 60 days. The loan originator will retain at least 5% of each loan placed on the Mintos platform on its balance sheet as its skin in the game.

Mogo is one of the top loan originators on the Mintos marketplace. The company joined Mintos in March 2015, and has since funded car loans worth EUR 75 million through the marketplace. To date, the average net annual return offered for Mogo loans has been above 12%.

With a total of more than EUR 300 million in loans originated since the company was founded in 2012, Mogo Group is the largest non-bank car loan provider in the region, with operations in Latvia, Lithuania, Estonia, Georgia, Poland, Bulgaria, Romania, Armenia and Moldova.

The aggregate net loan portfolio of Mogo Group is more than EUR 90 million. Mogo Group has demonstrated consistent profitability. Last year, it generated EUR 6 million in net profit, and projects a net profit of EUR 10 million for 2017.

Investing in GBP on Mintos

There are two ways to invest in GBP loans on Mintos: by transferring GBP directly to your investor’s account on Mintos or by converting your currency into GBP on the Mintos marketplace.

Romanian mortgage lender Extra Finance now offers loans with buyback guarantee on Mintos marketplace

By MPI24th November 2017News, Peer-to-Peer Lendingbuyback guarantee, EUR, Extra Finance, Mintos, mortgage loans, RON

A leading non-bank mortgage loan originator in Romania, Extra Finance has now added loans with a buyback guarantee to its offering on Mintos.

These new Extra Finance loans will be denominated both in euro (EUR) and Romanian Leu (RON). The loans will range from EUR 5 000 to EUR 50 000, with a repayment term of 9 to 60 months. The net annual return to investors will reach 10-11%. For each loan placed on the Mintos marketplace, Extra Finance will retain at least 10% on its balance sheet as its skin in the game.

Extra Finance joined Mintos in January 2017, offering mortgage secured loans without the buyback guarantee. The company has financed loans worth EUR 530 000 through Mintos.

Extra Finance is a Romanian non-bank lender that has operated for more than eight years. The company has branches in two Romanian cities. Last year, Extra Finance had a revenue of EUR 20.5 million, with a net profit slightly below the EUR 2 million mark. Its loan portfolio was EUR 14.6 million.