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Creditter (ex SmartCredit) – online lender from Russia joins the Mintos family. You can now invest in the company’s short-term loans and earn net annual returns of up to 11% in EUR and 17% in RUB.
The SmartCredit service was created in 2014 to increase the availability, convenience, speed and security of obtaining micro-loans online by various categories of customers. In 2019 the company SmartCredit carried out restructuring and rebranding of the business in order to incorporate the experience and learnings gained throughout the years. As a result, a new brand Creditter has been created, the design and usability of the website improved considering the newest trends prevailing in the sector.
As a result of these changes the process of being granted a loan has become faster and more convenient for the borrower and the design of the new brand has attracted increasingly more borrowers.
With its head office in Moscow, Russia, Creditter employs around 200 highly skilled professionals. Since its foundation, the value of issued micro-loans has amounted to EUR 50 million, and the current net loan portfolio stands at EUR 2.6 million. The accumulated customer base contains more than 1 million customers.
The average customer is male, 30 years old with higher education and a monthly salary of EUR 500. Creditter is under strong supervision of the Central Bank of the Russian Federation (CBR) and holds Microfinance Company (MFC) status, meaning that it may accept deposits from private investors.
Creditter decreases risks via innovation
The business model of the company is based on a proprietary model for assessing the creditworthiness of customers, which allows working with lower risks while maintaining a high level of profitability and also serving a large number of customers. In its activities, the company is guided by the principles of responsibility and transparency, both to customers and partners of the company.
Creditter on Mintos
Creditter’s short-term loans issued from Russia range from EUR 30 – EUR 400 with terms ranging from 7 to 30 days. The average size of a loan is EUR 150.
To align its interests with those of the investors, Creditter will retain 10% of each loan placed on Mintos on its balance sheet. All loans from Creditter will come with a buyback guarantee and Creditter will undertake the obligations of repurchasing delinquent loans.
Taking into consideration the legal requirements and investors’ interests, investors will be able to obtain exposure to Creditter loans by investing in loans issued by Mintos Finance Estonia to Mintos Finance LV.
The repayment of each loan issued by Mintos Finance Estonia to Mintos Finance LV will be pegged to the repayment of a respective loan issued by Mintos Finance LV to Creditter which, in turn, will be pegged to the repayment of the respective loan issued by Creditter to the borrower. Mintos Finance Estonia loans will be directly secured by a pledge on claims arising from Creditter loans issued to borrowers. A detailed description of the new structure is available in the Mintos Finance loan agreement and assignment agreement.
On Mintos, Creditter has received Mintos Rating “C+”.
Don’t miss out on this great opportunity to invest in short-term loans from Russia, issued by Creditter. Be sure to include Creditter’s loans in your portfolio.