Cashwagon launches new investment opportunity in Vietnam on Mintos

20.06.2019

mintosblog

For investors seeking investment opportunities in the Asia Pacific (APAC) region, Mintos is pleased to present another exciting announcement today – Cashwagon now offers short-term loans issued in Vietnam for investment for the first time on the marketplace!

Since November 2018, Cashwagon, an innovative platform designed to link lenders and borrowers, has offered investment opportunities for short-term loans issued in the Philippines. The Indonesian market soon followed, and today Cashwagon expands its offering with access to the Vietnam market.  

Headquartered in Singapore, Cashwagon operates in five countries – Sri Lanka, Indonesia, Vietnam, Malaysia, and the Philippines. In 2019, two more APAC countries will be added to the growing list of countries benefiting from Cashwagon’s lending platform.

What makes the Vietnam market so special?

Cashwagon launched in Vietnam on September 2017, and the platform had immediate success – helping citizens access short-term loans like never before. Vietnam is in particular need of innovation in the financial services, and Cashwagon’s solutions offer a welcome alternative to the traditional banking system.

In Vietnam Cashwagon has helped more than 160,000 unique borrowers and issued more than 546,000 loans to date. So far, the company has issued EUR 48 million worth of loans – and this value is growing rapidly.

All Vietnamese loans listed on Mintos by Cashwagon are issued by Lendtech Co., Ltd., a company duly incorporated and registered under the laws of Vietnam. Lendtech Co., Ltd, acts as a lender to individual borrowers on the online peer-to-peer lending platform operated by Cashwagon.

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

A special offer for Mintos investors

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%.

All loans listed and available for investment on Mintos are secured with a buyback guarantee by Lendtech Co., Ltd. All investments will be repurchased if the loan is outstanding for 60 days or more and 15% of each loan amount placed on the marketplace is kept on the company’s balance sheet to maintain its skin in the game.

In addition, the Group’s holding company Cashwagon Pte. Ltd. (Singapore), will provide a group guarantee thus securing the loan buyback obligation provided by the company.

Cashwagon: a disruptive force for the financial services industry

Cashwagon was created with a powerful mission: to disrupt the financial services industry by positioning financial assistance within reach of more people. According to KPMG 2018 report on Financial inclusion for Southeast Asia, about 70% of local people are not well served by mainstream financial institutions, and their needs are greater than most. Small, short-term loans can truly transform lives in developing countries like Vietnam.

If you believe in this mission, now it is your chance to diversify your investment portfolio by investing in driving financial inclusion in Vietnam. If you use Auto Invest, don’t forget to update your settings, so you don’t miss out!