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Mintos Refer-a-Friend campaign is back!

By MPI1st November 2017News, Peer-to-Peer Lending, Smart moneybonus, Mintos, peer-to-peer lending, Promo code, refer-a-friend

Mintos Refer-a-Friend code can not be used on blogs (for general public) anymore, instead please use the affiliate link. If you invest for the first time on Mintos don’t forget that you can get 1% cashback bonus for your investment made in the first 90 days. To get the 1% bonus please use THIS LINK.

Mintos peer-to-peer lending marketplace announce today that they have re-launched the Refer-a-Friend Program for a limited period of time.

How the program works?

In order to get the 1% bonus a promo code must be entered in the “Promo code” field during registration.

The promo code is: MINTOSCLUB.B7B9D7

Mintos will then reward both us and you with 1% of your invested amount. The reward will be calculated based on your average daily invested balance over a 3-month period – 30, 60, and 90 days after the registration date – and paid in three instalments.

More details on how this work can be found here.

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

Aasa now offers loans from Sweden for investment on Mintos peer-to-peer lending marketplace

By MPI16th October 20172 commentsNews, Peer-to-Peer LendingAasa, buyback guarantee, consumer loans, Mintos, peer-to-peer lending, Sweden

Mintos peer-to-peer lending marketplace introduce investment opportunities from Sweden.

The Scandinavian partner Aasa Group expands its presence on the Mintos marketplace by offering to invest in consumer loans issued in Sweden. Aasa already places loans issued in Poland on the Mintos marketplace since February 2017, and so far investors on Mintos have invested EUR 3 million in loans by Aasa.

Aasa Group was established in 2010 and is now among the top alternative lenders on the Polish and Finnish markets. At the end of the first half of 2017 Aasa had issued loans worth more than EUR 172 million in Poland and EUR 270 million in Finland. Aasa Group has over EUR 50 million in equity. This makes Aasa the biggest loan originator on the Mintos marketplace.

Aasa Group has advanced plans to expand in other European countries, the first of these being Sweden. Aasa started its operations in Sweden in May 2017. Aasa loans in Sweden are issued by Aasa Kredit Svenska AB. It offers consumer loans in a highly effective online channel. At the end of September 2017, Aasa Kredit Svenska AB had issued more than 2 000 loans worth over EUR 2 million.

The average Sweden-issued loan that Aasa will place on the Mintos marketplace will range from EUR 1 000 to EUR 2 000, with an average repayment period of 6 to 36 months. The loan originator will initially offer to invest in euro (EUR). Loans denominated in Swedish krona (SEK) will be added to the Mintos marketplace soon. The average net return to investors will range from 7 to 11%.

Aasa will offer a buyback guarantee for loans that are delinquent for more than 60 days. The obligations of Aasa Kredit Svenska AB will be guaranteed by Aasa Group. To retain its “skin in the game”, Aasa will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

Aasa’s mission is to provide fast and convenient access to financial products and services based on transparency, promptness, simplicity and safety. Aasa always provides mid-size consumer loans priced similarly to banks, which differ greatly from single instalment payday loans.

The key to Aasa’s business model is the efficient use of the lending platform and unique credit scoring algorithms. When combined, they are able to serve a large number of customers, while accurately controlling credit risk. To evaluate the creditworthiness of clients, Aasa employs sophisticated in-house big data methodology. Their scoring uses both classical variables such as income, employment and age, as well as big data such as customer behaviour on the website, time of application and other indicators crucial for the final decision.

“We are so excited to expand Aasa operations together with the Mintos marketplace. We started our cooperation with Mintos by offering products on the Polish market and now we see a huge opportunity to reach our goals in other important countries also with Mintos marketplace investors. The consumer lending market is a fast-growing investment opportunity. Funding through Mintos contributes to the diversification of our financing structure, offering us the flexibility to grow our portfolio” emphasises Meliina Räty, Chief Strategy Officer responsible for Aasa Group’s expansion.

“We are truly excited that Aasa Group is extending its presence on the Mintos marketplace. Aasa gives investors the opportunity to significantly diversify their investment portfolio by investing in low-risk loans originated by an established loan originator in Europe,” says Martins Sulte, CEO and co-founder of Mintos.

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

By MPI16th October 2017News, Peer-to-Peer LendingEurocent, Mintos, peer-to-peer lending, Temporary Judicial Supervisor

The company continues servicing the loans and passing on borrower payments to investors on the Mintos marketplace. As a result, since June 8, 2017, the outstanding investment portfolio in Eurocent loans on the Mintos marketplace has decreased in total by 43%.

After suspending automatic buyback of the delinquent loans on the Mintos marketplace in July, Eurocent made a partial buyback of the loans according to company’s financial ability in the amount of EUR 71 000. Similarly, Eurocent made gradual repayments towards the holders of the outstanding corporate bonds. As of October 6, the company had repaid a total of 35% of the overdue bonds.

However, following the appointment of a Temporary Judicial Supervisor by the court on September 29, the company had to suspend the partial fulfilment of the buyback towards investors on Mintos. This was due to the limitations imposed by the supervisor to ensure fair treatment of all creditors of Eurocent.

The main functions of the Temporary Judicial Supervisor are to:

– verify the financial standing of the company;

– help the court to make a decision on the reasonableness of the commencement of the debt restructuring proceedings;

– supervise all dispositions made by the company to prevent it from conducting activities that might be perceived as detrimental to creditors.

As confirmed by the management of Eurocent, the appointment of the Temporary Judicial Supervisor will not affect the regular settlements made by the company towards the investors on the Mintos marketplace. All payments received from the borrowers of loans that have been assigned to investors on the Mintos marketplace will still be transferred on a regular basis.

Meanwhile, Eurocent continues negotiations with several potential investors. If these negotiations result in an agreement, the company’s situation would be resolved out of court and would allow Eurocent to repay its obligation towards the investors in the shortest period of time.

Short recap of what has happened

June 2017: Eurocent could not repay its corporate bonds in the amount of PLN 1.8 million (EUR 425 000), and the placement of new Eurocent loans on the Mintos marketplace was suspended. Read more >

July 2017: Still not being able to repay the full amount of the outstanding bonds, Eurocent submitted an application to the court to restructure the company’s debts. Read more >

September 2017: After evaluating the application, the court appointed a Temporary Judicial Supervisor to Eurocent. All actions of the company that exceed the scope of ordinary management must now be approved by the supervisor.

Lenno Joins Viventor peer-to-peer lending marketplace

By MPI24th September 2017News, Peer-to-Peer LendingLenno, loans, peer-to-peer lending, real estate, Viventor

Viventor partners with Lenno, a Bulgarian lender that also operates in Poland, Czech Republic and Russia.

Established in 2012 as TNK Capital Management JSC, the company carried out a rebranding and started operating under the brand of Lenno in the second half of 2017. The company has been registered as a financial institution with the Bulgarian National Bank since 2013.

Lenno provides loans secured by real estate to both businesses and private borrowers, with the average Loan-to-Value ratio across the loan book standing at 49%. The majority of loans issued are secured by properties located in the biggest cities of Bulgaria: Sofia, Plovdiv, Varna and Burgas. To date, Lenno has originated approximately EUR 7 million worth of loans, with the ambition to considerably increase its presence in Czech, Polish and Russian markets in the near future.

“We are always striving to be among the pioneers in the industry and it is for this reason that our newly formed partnership with Viventor is vital for our company’s mission. Accessing a new stream of capital will help us focus on expanding our business into new markets and will allow us to focus on developing innovative financing products.”

Aleksandar Tonkov, CEO of Lenno
Lenno loans on Viventor

2500-250000 EUR in size
6 months-5 years in duration
7%-10% projected annual return
60 day Buyback guarantee

The company will initially list its loans from Bulgaria. In addition to Buyback and collateral in place, all the loans will be listed in Euros. On top of that, Lenno will maintain 5% skin in the game stake in every single loan.

Personal loans issued in Bulgaria by Cash Credit now available on Mintos marketplace

By MPI24th September 2017News, Peer-to-Peer LendingBulgaria, buyback guarantee, Cash Credit, Mintos, peer-to-peer lending, personal loans

The newest addition to the Mintos marketplace are personal loans issued in Bulgaria by Cash Credit, a leading Bulgarian fintech company operating in the retail and online lending space.

Cash Credit is part of Cash Credit Group, which operates in Bulgaria, South Africa, and the Philippines. The group employs a unique business model of partnering with mobile service providers; this gives Cash Credit Group an advantage when assessing borrowers’ credit worthiness, and allows them to issue loans quickly and conveniently. At the beginning of 2017, Cash Credit became the first company in the world to grant credit via Viber – a popular messaging, voice and video call mobile application.

“Joining Mintos will allow us to further utilize Cash Credit’s know-how in efficient and profitable lending, while providing competitive returns to investors on the Mintos marketplace. We chose Mintos because we share similar values and a vision for the future of the financial services sector,” says Anton Karagiozov, CEO of Cash Credit and member of the board of directors of Cash Credit Group.

The majority of Cash Credit borrowers in Bulgaria are private individuals seeking loans for general needs, repair and maintenance or utility payments. Operating online and in close to 70 retail offices, the company offers the fastest credit approval on the Bulgarian market – within less than six minutes.

The personal loans Cash Credit is set to offer investors on the Mintos marketplace will range from EUR 100 to EUR 1 000, with a repayment period of up to 18 months. The average net annual return to investors will range from 10 to 12%.

Cash Credit loans will be supplemented with a buyback guarantee covering loans delinquent for more than 60 days. Historically, the share of Cash Credit loans late by 60 days or more has been below 15%.

To retain its skin in the game, Cash Credit will keep at least 5% of each loan on the Mintos marketplace on its balance sheet.

“Bulgaria is a high-potential market. Investors on the Mintos marketplace have demonstrated solid demand to invest in loans issued in this geographic region. We are truly excited to start a cooperation with one of the top alternative finance providers in this country,” says Martins Sulte, CEO and co-founder of Mintos.

Since its establishment in 2011, Cash Credit in Bulgaria has disbursed more than 240 000 loans worth more than EUR 55 million.

Cash Credit in Bulgaria had 15 000 active customers and a net loan portfolio of EUR 3.6 million, as of July 2017. During the first seven months of 2017, the company has issued loans worth EUR 7.5 million.

At the end of 2016, Cash Credit in Bulgaria had EUR 4.5 million in equity, EUR 5.2 million in assets and produced a 19% return on assets.

Cash Credit has received recognition for its successful business development. In 2013, the company raised USD 25 million investment from the global advisory and investment firm Delta Partners Capital Limited.

ID Finance announces the launch of Mexico operations

By MPI24th September 2017News, Peer-to-Peer Lendingfintech, ID Finance, launch, Mexico, operations, peer-to-peer lending

ID Finance, the emerging markets fintech company, has expanded its presence in Latin America with a launch into the Mexican online lending market. The announcement comes less than a year after the company launched operations in Brazil and represents another key milestone as it continues its aggressive global expansion. Boris Batine, Co-founder and CEO at ID Finance, stated:

“It is an exciting time to be expanding our footprint in LatAm and we see enormous potential for online lending in Mexico. It is an important step towards becoming the number one alternative lender in the region.”

ID Finance explained that with a population of 127 million and 61percent of adults lacking a bank account according to World Bank, Mexico represents one of the largest opportunities for fintech in Latin America. Mexico’s low bank branch coverage – 14 branches per 100,000 inhabitants compared to 33 in the US – together with an underdeveloped transport infrastructure further exacerbates the need for fintech services. Yannick del Ponte, Country Manager at ID Finance Mexico, commented:

“The growth in internet usage and smartphone penetration is creating an enormous opportunity for fintechs. ID Finance’s unique scoring technology gives us a significant advantage over the competition while our Moneyman online lending product will bring much needed simplicity and transparency for consumers here in Mexico.”

ID Finance went on to note that Mexico is expected to have 91.6m active internet users by 2021 and 75.4m smartphone users by 2022. Proposed government reforms centred on financial inclusion, and upcoming regulatory changes are driving development of the sector.

ID Finance was founded in Russia in 2012 and has rapidly expanded into Kazakhstan, Georgia, Poland, Spain, Brazil and now Mexico. The company posted 82 percent revenue growth for the first half of 2017 and has 3.8 million registered customers. It issues over 60,000 loans each month with monthly revenue of $15 million.

EUR 300 million invested through Mintos

By MPI6th September 2017News, Peer-to-Peer Lendinginvestment, milestone, Mintos, peer-to-peer lending

Mintos has reached a new milestone – EUR 300 million has been in invested through the marketplace. More than EUR 200 million has been invested in 2017 alone, making Mintos a clear market leader in continental Europe with a 40% market share, according to AltFi Data.

In other words, about EUR 1 million is invested in loans through Mintos daily. To put that in perspective, this is three times more than just a year ago. Mintos is growing fast, and this growth is reflected in the rapid expansion on both sides of the marketplace.

On the investor side, about 2 000 new investors join Mintos each month. As of the end of August 2017, there were more than 32 000 investors from 64 countries on the Mintos marketplace.

On the supply side of the marketplace, there are 27 loan originators from 14 countries. This makes Mintos the world’s largest marketplace of its kind. The first loan originator from Africa just joined the marketplace, making it the third continent from which Mintos offers loans.

Creditstar offers loans granted in the Czech Republic on Mintos marketplace

By MPI1st September 2017News, Peer-to-Peer LendingCreditstar, Czech Republic, Mintos, peer-to-peer lending, personal loans, Short-term loans

Creditstar Group is strengthening its presence on the Mintos marketplace by offering short-term and personal loans granted in the Czech Republic. Loans will be listed both in euro (EUR) and Czech koruna (CZK).

Creditstar is one of the leading non-bank lenders in Europe, offering unsecured consumer loans in eight countries. The Czech Republic is the third Creditstar country, alongside Poland and Spain, that will have loans on the Mintos marketplace. To date, Creditstar loans worth more than EUR 8.4 million have already been financed through the Mintos marketplace.

Czech Republic-issued Creditstar loans on the Mintos marketplace will range from CZK 1 000 to CZK 19 000, with a repayment period of up to three months. The average net annual return to investors will reach 12%.

Creditstar will offer a buyback guarantee for loans that are delinquent for more than 60 days. The obligations of Creditstar Czech will be guaranteed by Creditstar Group. To retain its skin in the game, Creditstar will keep at least 5% of each loan on the Mintos marketplace on its balance sheet.

The company puts a strong emphasis on responsible lending policies and individual customer service. The typical Creditstar client is an active, young male, 26-35 years old, living in a small town. Creditstar has a strict credit policy – only around 30% of applications are accepted. Debt collection companies are involved in the recovery of non-performing loans.

The company is headquartered in Estonia, where Creditstar is a market leader with a 40% market share. Creditstar has established subsidiaries and provides services in Estonia, Lithuania, Poland, the Czech Republic, Finland, Sweden, Spain, and the United Kingdom. The total number of active customers throughout the Creditstar Group currently exceeds 272 000.

The aggregate loan portfolio of Creditstar Group was EUR 52 million as of June 2017. The company has EUR 13.1 million in equity and EUR 58.8 million in assets. Creditstar has been profitable each year since its founding in 2006. Last year, it generated EUR 1.6 million in net profits.

At the beginning of the year, Creditstar Group was also selected as one of 10 Ruban d’Honneur recipients for the ELITE Award for Growth Strategy of the Year in the 2016/17 European Business Awards. Creditstar was one of only 110 finalists announced; over 33 000 businesses participated in the competition. The panel of independent judges praised Creditstar for its strong growth and core values of innovation, ethics, and success.

New loans for investment from ID Finance in Georgia

By MPI29th August 2017News, Peer-to-Peer LendingGeorgia, ID Finance, marketplace, Mintos, peer-to-peer lending, personal loans, skin in the game

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.

Loans issued in Africa now available on the Mintos marketplace

By MPI21st August 2017News, Peer-to-Peer LendingAfrica, Botswana, GetBucks, Mintos, MyBucks, peer-to-peer lending, Short-term loans

GetBucks has started placing short-term personal loans issued online in Botswana on the Mintos marketplace. With this move, GetBucks is the first loan originator on the Mintos marketplace to offer an opportunity to invest in loans issued in one of the fastest growing regions of the world — Africa.

GetBucks, part of Frankfurt-listed fintech company MyBucks, joined the Mintos marketplace in June 2017, offering investors the opportunity to invest in short-term personal loans issued in Poland. So far, the company has funded loans worth more than EUR 400 000 through Mintos.

Tim Nuy, Deputy CEO of MyBucks, says: “We initially approached Mintos as a practical and flexible solution to our funding needs in Europe. So far, the Mintos platform has given us great results, with excellent investor demand.”

“The outcome was so good, we thought it would be great if we could find similar solutions for our successful African operations,” says Nuy. “Some African markets are not too different from many Eastern European countries. Botswana, for example, has a very stable economy with a GDP per capita of over USD 16 000. Loan impairments there are much lower than in most Eastern European markets.”

“We are glad to partner with Mintos in this initiative to allow European investors to participate in the African consumer finance business. We are confident that it will be as successful as it has been in Poland.”

The average Botswana-issued loan GetBucks will place on the Mintos marketplace is EUR 250, with a repayment period of 30 days. The average annual net return to investors will reach 11%.

GetBucks will provide 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. Obligations of GetBucks Botswana will be guaranteed by MyBucks Group.

The subsidiary GetBucks acquired in Botswana was established in 1998 and provides short-term unsecured loans. The company has already disbursed more than 120 000 loans worth more than EUR 19 million, most of them for consumption and education.

MyBucks Group has experienced exponential growth since its inception in 2011. Through its different brands, the company offers customers unsecured consumer loans, banking solutions and insurance products.

MyBucks Group operates in 12 countries across three continents – Africa, Europe and Australia. The company currently has four banking licenses and employs over 1 000 people. It has disbursed more than 1 million loans since inception. MyBucks now has a loan portfolio of almost EUR 100 million; it had a record year in 2016 when the company disbursed EUR 124 million in loans.

The Luxembourg-registered MyBucks group is the first African fintech company to be listed on the Frankfurt Stock Exchange. It is also the first fintech company in Africa to provide savings products. In 2017, the company successfully listed bonds on the Vienna, Botswana and Zimbabwe stock exchange. It now has plans to list bonds in several other jurisdictions.

Over the last four years, MyBucks group’s revenues have grown fivefold to reach EUR 66.3 million, as of the end of June 2017. The company’s operating profit has grown over 30% in the past year to EUR 15.6 million.

GetBucks has developed unique credit-scoring technology with self-learning algorithms that allow the company to keep a 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.

If you would like to invest in loans issued by GetBucks and use Auto Invest on the Mintos marketplace, be sure to adjust your settings accordingly and add GetBucks to your Auto Invest loan originators’ list!