Tag Archives: personal loans

Mogo now offers investment opportunities in its personal loans on Mintos p2p lending marketplace

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Opportunities for investment in Mogo loans has grown as the non-bank car loan provider now offers Latvia-issued unsecured personal loans for investment for the first time on Mintos. These loans are in addition to the car loans currently available from the loan originator from Bulgaria, Estonia, Latvia, Lithuania, Poland and Romania.

Mogo was established in 2012 in Latvia and is the largest non-bank car loan provider in the region. As of October 2017, Mogo also began issuing personal loans to residents of Latvia and as of February 28, 2018, has distributed EUR 1.8 million worth of loans to customers. Outside of Latvia, the company also has operations in Albania, Armenia, Bulgaria, Estonia, Georgia, Lithuania, Moldova, Poland and Romania. Mogo prides itself on its fast customer service and open communication, which fosters long-term relationships with its customers. As a result, it has more than 40 000 clients worldwide.

The average Latvia-issued personal loan on Mintos from Mogo is EUR 400. The average repayment term is 24 months and borrowers repay the loan in monthly instalments. You can expect an average annual net return of up to 14%.

To maintain its skin in the game, Mogo will keep 5% of each loan on its balance sheet. All Latvia-issued personal loans from the company are secured with a buyback guarantee meaning all loans that are delinquent for 60 days or more will be bought back.

Latvia is the company’s largest and most profitable market. As of December 31, 2017, Mogo Latvia’s net loan portfolio reached EUR 30.6 million, a 22% increase compared to December 31, 2016. In 2017, turnover for the company amounted to EUR 13.7 million. Since its inception, Mogo Latvia has originated more than 33 thousand loans worth EUR 86 million.

The typical borrower for Mogo is aged between 26 to 35 years. They are usually taking the loan to cover unexpected costs such as paying for repair work in the home. Feedback from customers has shown they appreciate the convenience and quick process of applying for a loan from Mogo.

As of December 31, 2017, Mogo Group’s net loan portfolio was more than EUR 100 million, a more than 50% increase compared to December 31, 2016. In 2017, turnover for the company amounted to EUR 40 million. Since its inception, Mogo Group has originated more than 91 thousand loans worth EUR 250 million.

Mogo joined the marketplace in 2015 and investors have invested more than EUR 105 million in its loans. In terms of total amount funded, Mogo is one of the top loan originators. The company currently offers car and personal loans in three currencies: Euro, British pound and Polish zloty.

You can now invest in personal loans from GetBucks in Kenya and Zambia on Mintos p2p lending marketplace

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The investment opportunities from Africa on the Mintos marketplace have just doubled as GetBucks now offers you the chance to invest in personal loans from Kenya and Zambia, with yearly returns of up to 13%. In both countries, the company has special agreements that ensure loan repayments are deducted directly from the salary of the borrower.

GetBucks is part of the Frankfurt-listed fintech company, MyBucks. The loan originator joined Mintos in June 2017 and until now was offering investment opportunities in Poland and Botswana. Since joining the marketplace investors have invested more than EUR 4.9 million worth of GetBucks loans.

GetBucks Kenya (Emu Inya Enterprises Limited) exclusively lends to Kenyan civil servants, county employees and to employees of the Kenyan Teachers Service Commission. GetBucks Zambia provides loans for educational purposes and to employees of large national companies. In both countries, the company issues loans only based on special agreements that allow repayments to be deducted directly from the salary of the borrower. Because of this setup, personal loans issued by GetBucks from Kenya and Zambia have one of the lowest default rates on the market.

The average Kenya-issued personal loan on Mintos from GetBucks is EUR 800, with an average repayment period of 36 months. The average GetBucks Zambia-issued personal loan on Mintos is EUR 600, with a repayment period of 13 to 36 months. Investors can expect an annual return of up to 13% for GetBucks loans from both countries.

To keep its skin in the game, GetBucks will retain 5% of each loan placed on Mintos on its balance sheet. GetBucks ensures all loans from Kenya and Zambia that are delinquent for 60 days or more will be repurchased by the company. The obligations of GetBucks Kenya and GetBucks Zambia will be guaranteed by MyBucks Group.

Established in 1993, GetBucks Kenya has distributed more than EUR 14 million worth of loans since its inception. GetBucks Zambia started operating in 2014. Since then, more than EUR 23 million worth of loans has been given.

The Luxembourg-registered MyBucks Group was 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. The current market capitalisation of the company is in excess of EUR 170 million.

Kenya is one of the leading countries from Africa in the alternative lending industry. Economically, the country offers a youthful and growing population, dynamic private sector, highly skilled workforce, improved infrastructure and a new constitution. According to forecasts from The World Bank, GDP growth is expected to rebound to 5.8% in 2018 and 6.1% in 2019 respectively.

Zambia has one of the world’s fastest growing populations, with the United Nations projecting that the country’s population will triple by 2050. GDP is also set to improve, according to the World Bank, growth is forecast to strengthen to 4.5% in 2018 and 4.7% in 2019.

ExpressCredit from Botswana joins the Mintos p2p lending marketplace

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A new loan originator from Botswana has just joined the Mintos marketplace. Now you can invest in Botswana-issued personal loans by ExpressCredit and enjoy returns of up to 14%.

ExpressCredit is an innovative consumer lending company which endeavours to give its clients a personal approach through its four branches in Botswana, with more branches to be opened in 2018. Established in 2015, ExpressCredit (Proprietary) Ltd. was licensed in January 2017 by the local Botswana regulatory body, Non-Bank Financial Institutions Regulatory Authority.

ExpressCredit primarily distributes its loans to employees of the Botswana Primary Teachers Union. The company has a special agreement with the union, so all repayments are debited directly from the borrower’s salary. Due to this repayment set up, the expected default rate for ExpressCredit loans is less than 5%.

“ExpressCredit is pleased to join one of the best marketplaces for loans in the world. With a population of two million and a stable economy, Botswana offers a strong, low risk crediting environment. Our partnership with Mintos and continuous investments in technology, branch network and people will ensure our growth in the market achieving our strategic goal to become one of the top micro-financing companies in Botswana,” says Dineo Saleshando, CEO of ExpressCredit.

The average Botswana-issued personal loan from ExpressCredit is around EUR 2 000. The average repayment period is five years and borrowers repay the loan in monthly instalments.

Initially, ExpressCredit will offer the opportunity to invest in loans issued to salaried government employees only. In the future, ExpressCredit also plans to offer you the opportunity to invest in other types of loans from Botswana as well, such as shorter-term consumer loans, open market loans and pensioner loans already being issued by the company.

All loans from ExpressCredit on Mintos are secured with a buyback guarantee and will be bought back by the company if they become delinquent for more than 60 days. In addition, the company will maintain 15% of each loan placed on the marketplace on its balance sheet.

As of January 2018, ExpressCredit had a total loan book size of more than EUR 3.3 million. The company has more than doubled its revenue from the third quarter to the fourth quarter of 2017. The company is continually looking at opportunities for innovation and increasing its ability to cater for all of its customer’s needs.

As ExpressCredit’s target market is largely government employees who receive a regular salary, the branches are strategically located in key demographic areas to cover the majority of government employees across Botswana. The company has established a large direct sales agent network with more than 140 employees, which allows it to offer a personal approach when distributing loans. It also ensures the experience for customers is efficient and allows the company to demonstrate strong Know Your Customer (KYC) standards.

Borrowers take out a loan from ExpressCredit for a variety of reasons, including the purchase of land, cars and buildings and also for housing renovation.

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

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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.

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.

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

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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.

Mozipo Group now offers to invest in personal loans from Denmark

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Thanks to Mozipo Group, investors on Mintos now have even more investment opportunities in Denmark. Personal loans issued by Mozipo in Denmark are now available on the Mintos marketplace in euro (EUR), and soon loans in Danish krone (DKK) will be added as well.

Mozipo Group has built a strong reputation for itself since it was established in Lithuania more than a decade ago. Mozipo is known for being a reliable, transparent and responsible non-bank financial institution. The company was one of the first to offer online and SMS credit solutions. Mozipo Group operates in Lithuania, Denmark and Romania, and plans to expand to five more countries in the near future.

Denmark-issued Mozipo Group loans listed on the Mintos marketplace will range from EUR 65 to EUR 945. The repayment period will be up to one year. Investors can expect an annual return of 11%-13%.

Mozipo will offer a buyback guarantee for loans that have been delinquent for more than 60 days. The obligations of Mozipo Denmark will be guaranteed by Mozipo Group. To keep their skin in the game, Mozipo will retain 10% of each loan put on Mintos on their balance sheet.

Mozipo Group has been trusted by more than 230 000 customers. The average borrower of Mozipo is a 36-45-year-old city resident. They have an average monthly income and use the loans to primarily cover daily and unexpected expenses.

Since 2007, the company has issued 660 000 loans worth over EUR 135 million.

Mozipo Denmark started its operations at the end of 2016 and it has attracted over 17 000 clients. Since then, the company has issued more than EUR 3 million worth of loans in Denmark.

Mozipo Group’s business model is based on the use of efficient technologies. The company has developed a unique risk scoring system, reducing the number of non-performing loans issued. In Denmark, the share of non-performing loans is recently below 34%.

Since Mozipo joined Mintos in March 2017, its loans from Lithuania and Romania worth EUR 6 million have been funded through the Mintos marketplace.

Loans issued by Mozipo in Romania now available on Mintos marketplace

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Well known for being one of Lithuania’s biggest online consumer lenders, Mozipo Group is expanding their presence on the Mintos marketplace by offering to invest in personal loans issued in Romania.

Mozipo Group has been operating for more than a decade and has established a strong reputation for being reliable, transparent and a responsible non-bank financial institution. Currently, Mozipo Group works in Denmark, Lithuania and Romania, and plans to expand to five additional markets in the near future.

Since Mozipo Group joined the Mintos marketplace in March 2017 with loans issued in Lithuania, more than EUR 5.3 million of those have been funded through Mintos.

“We find Mintos marketplace a convenient and flexible tool to grow the portfolio. We are happy to work with the team of professionals who are aware of the needs of fast-growing fintech companies. So, now that we are confident about funding, we can concentrate on the core business and enter new markets,” says Mozipo Group CFO Aušrius Banaitis.

Romanian-issued Mozipo Group loans on the Mintos marketplace will range from EUR 22 to 3300, with a repayment period of up to five years. The average net annual return to investors is expected to range from 9 to 14%. Initially, the loan originator will list loans in euro; loans denominated in Romanian lei (RON) will be added to the Mintos marketplace soon.

Mozipo Romania will offer a buyback guarantee for loans that are delinquent for more than 60 days. The obligations of Mozipo Romania will be guaranteed by Mozipo Group. The company prides itself on the use of efficient technologies and has a unique risk scoring system, reducing the number of non-performing loans issued. The share of non-performing loans of Mozipo Romania historically is below 20%.

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

Since its inception, Mozipo Group has served more than 230 000 customers. The typical client of Mozipo is a 36-45-year-old city resident with an average monthly income. The loans are primarily used to cover daily and unexpected expenses. The company has issued 660 000 loans worth over EUR 135 million.

In 2016, 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.

Mozipo Group started operations in Romania in April 2015. Loans worth more than EUR 1 million have been issued to date.

To obtain exposure to Mozipo Romania loans, investors will be able to invest in loans issued by Mintos Finance, a Mintos group company, to Mozipo Romania where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to Mozipo Romania will be pegged to a respective loan issued by Mozipo Romania to the final borrower. A detailed description of the structure is available in the Mintos Finance loan agreement and assignment agreement.

Reap the benefits of Mozipo Group’s forward-thinking business structure by investing in its loans. If you use Auto Invest on the Mintos marketplace and want to invest in Mozipo loans issued in Romania, make sure to adjust your Auto Invest settings accordingly.

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

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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.

Creditstar offers loans granted in the Czech Republic on Mintos marketplace

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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.

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