June was an incredibly productive month for Mintos. Not only were they happy to welcome the summer season, but they also saw a number of exciting new developments on the marketplace.
Here’s a recap of some of their top developments during the month.
Invest & Access
Investing on Mintos is now easier than ever with the Invest & Access feature. Invest & Access is a fully automated way of investing. Just select the amount you want to invest and you’ll get a portfolio of loans that is diversified across the marketplace and offers great returns.
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Mintos launches three loan originators in June
Not only did Mintos launch big projects in June, but also welcomed three new loan originators to the Mintos family.
Lendrock, a car loan provider based in Spain, launched on the marketplace last month. Established in 2015, Lendrock provides fast and flexible funding for borrowers who are purchasing low-cost cars, that is, cars under EUR 10,000. Lendrock is the only end-to-end financing platform which specializes in financing low-cost cars in the country.
This means, Lendrock not only helps out the borrowers of the car but also the car dealership. Because of this, the company has created partnerships with more than 500 car dealers in Spain. Lendrock covers all aspects from origination through to servicing, including registration of the vehicle.
Lendrock loan originator Mintos statistics:
Dziesiątka Finanse, a Polish loan company has also joined Mintos, offering personal loans listed in PLN and EUR. Customers can apply for a loan via their website or through an agent over the phone, in the amount ranging from PLN 500 to PLN 15 000 (EUR 116 to EUR 3 480), and the money will be delivered to the clients home.
The loan originator is an established player in the lending market in Poland, having operated in the country for 18 years. In the last eight of those years, the company has operated under the name Dziesiątka Finanse.
Dziesiątka Finanse loan originator Mintos statistics:
Novaloans Ltd, established in 2012, a loan originator based in the United Kingdom trading as Cash4unow is also a new member to the marketplace. Authorised and regulated by the FCA, offers loans in the high-cost short-term credit market ranging from EUR 172 to EUR 1 146.
In the UK, the high-cost short-term credit market is highly regulated. However, Novaloans maintains that it has always been committed to responsible lending before market regulators imposed rate caps. This has allowed the company to continue to grow despite a more restrictive environment.
Novaloans loan originator Mintos statistics:
Cashwagon lists loans from Vietnam
Cashwagon now offers short-term loans issued in Vietnam for investment for the first time on the marketplace! On the marketplace, Cashwagon’s Vietnam-issued loans range from EUR 30 to EUR 300 with a maturity of up to 40 days and an expected net annual return of up to 15%.
Some loan originators have left Mintos, here’s why
In June, Mintos gave an update on some of the loan originators who have left the marketplace recently and why. Sometimes after a company joins Mintos they experience changes – such as financial changes, restructuring or they refocus on other geographies.
Recently, four loan originators have left Mintos – InviPay, PimPay, GetBucks Poland and ID Finance Georgia. To find out why, click on the link below.
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