Invest in personal loans issued by Creditstar in Spain!

12.06.2017

mintosblog

The diversity of loans offered on the Mintos marketplace continues to grow! The newest additions to the marketplace are short-term and personal loans issued by Creditstar in Spain.

Creditstar is one of the leading non-bank lenders in Europe, offering unsecured consumer loans in eight countries. The company’s cooperation with Mintos marketplace started last year with loans issued in Poland. In 10 months, Creditstar loans worth EUR 5.9 million have already been financed through the Mintos marketplace.

The new loans Creditstar will place on the Mintos marketplace are issued in Spain and will range from EUR 50 to EUR 1000, with a repayment period of up to 3 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. To retain its skin in the game, Creditstar will keep at least 5% of each loan placed on the Mintos marketplace on its balance sheet.

Currently, Creditstar has more than 4 000 active customers in Spain, making up a loan portfolio of EUR 2.6 million.

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 47 million as of March 2017. The company has EUR 12.8 million in equity and EUR 56.6 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.

The typical Creditstar client is an active, young male, between 26-35 years old living in a small town. Creditstar has a strict credit policy – only about 30% of all applications are accepted. Debt collection companies are involved to recover non-performing loans.

“We are glad to strengthen our cooperation with Creditstar. The Group’s performance is impressive and we are looking forward to adding loans issued by Creditstar in other countries, as well,” says Martins Sulte, CEO and co-founder of Mintos marketplace.

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