We want to inform you about the changes that may affect part of your investment portfolio on Mintos. One of the loan originators on the marketplace, in whose loans you have invested, LeaseLink, is in the process of transferring ownership. This has required the company to repurchase their loans from the Mintos marketplace.
How does this affect your portfolio?
As we work in and for the best interest of our investors, in instances like this we have provided protection for your investments, which is regulated by the Termination of the Cooperation Agreement. This means that all liabilities to our investors from the Party that terminates the Agreement become due, immediately. This means that LeaseLink has repurchased both your principal and accrued interest until the date of the repurchase, that has happened on March 8, 2019.
Please note that if you have invested in LeaseLink loans without utilising the automatic reinvestment option, you may need to login to your Mintos account and choose from various other loans on Mintos to invest in. Why? In order to keep the money repurchased from LeaseLink earning interest for you!
If you want to know more about LeaseLink’s Cooperation Agreement termination, please find more information below.
A Polish fintech company, LeaseLink has been apart of Mintos since September 2018, but due to the legal prerequisites of the ownership transfer of LeaseLink, our existing cooperation with the company has been affected. LeaseLink was obliged to terminate the Cooperation Agreement with Mintos and remove all of its existing loans from the Mintos marketplace.
This was a part of the transition process and a regulatory assignment for LeaseLink under the new ownership.
Mintos has in no way influenced this decision. It was made solely at the discretion of LeaseLink and the company’s new ownership structure.
However, we are looking forward to bringing you news regarding further developments on this matter soon, after LeaseLink completes their legal obligations and other assignments related to the ownership transfer.
If you have any additional questions regarding this matter, please contact our Investor Service team at [email protected] or via the phone numbers provided on our website.