Regional giant Aasa Global joins Mintos marketplace

22.02.2017

mintosblog

We are happy to share great news with you! Aasa Global has joined the Mintos marketplace and, starting today, will place consumer loans issued in Poland on the platform. With a loan portfolio of EUR 156 million, Aasa is the biggest loan originator that has joined our marketplace so far.

Aasa Global was established in 2010. Currently the Group is operating in Poland and Finland, and plans to expand in other European countries. Aasa’s mission is to provide fast and convenient access to financial products and services based on transparency, promptness, simplicity and safety.

Having attracted EUR 50 million private equity investment, Aasa has an exceptional capital structure. Aasa loans to date have been funded through bonds and bank funding from Santander Group, one of the largest banks in Europe. The Group’s 2016 revenue reached EUR 66 million.

The key to Aasa business model is the efficient use of their lending platform and unique credit scoring algorithms, which, when combined, are able to serve a large number of customers quickly, while accurately controlling credit risk. To evaluate the creditworthiness of clients, Aasa employs sophisticated in-house big data methodology. Scoring uses both classical variables such as income, employment, and age, as well as big data such as customer behavior on the website, time of application and other indicators.

Aasa started its operations in Poland in March 2012. The company currently employs more than 100 people in Poland through its subsidiary Aasa Polska. It offers consumer loans to customers both online and in person via a network of agents. Aasa Polska has more than 167 000 active loans. In 2016, Aasa Polska issued 161 000 loans; worth over EUR 72 million. Over the last 12 months, they have successfully tripled their outstanding loan portfolio in Poland to EUR 61 million while reporting positive operating and net result.

The average loan that Aasa will place on the Mintos marketplace will range from EUR 100 to EUR 2 300, with a repayment period of 6 to 24 months. The loan originator will offer investment opportunities in euro (EUR) and Polish zloty (PLN).

It is expected that the average net return to investors will be around 8%. Aasa will offer a buyback guarantee for loans that are delinquent for more than 60 days. To retain its “skin in the game”, Aasa will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

“We are very excited to join the Mintos marketplace. Aasa is a dynamic company operating in a fast-growing market and we are always looking for like-minded business partners. We believe that funds received through Mintos marketplace will become another alternative source of financing next to bank credit lines, bonds and loans, and will contribute to the diversification of our financing structure, offering us the needed flexibility to grow our portfolio,” emphasizes Meliina Räty, CEO of Aasa.

Aasa has received high praise in the industry, including recognition from Loan Magazine Awards 2015, Laurel of Financial Intermediaries 2016 Award in the category of lending institutions in Poland, Installment loan provider if the year 2016 and Business loan provider of the year 2016.

We are truly excited that Aasa Global has joined the Mintos marketplace. As the biggest loan originator on the platform, Aasa gives investors the opportunity to significantly diversify their investment portfolio by investing in low-risk loans originated by an established loan originator.