2 July update: Status of the defaulted lending companies and the recovery of invested funds



Following previous updates, we share news on the developments in the last month on each defaulted lending company and the recovery of invested funds. View the table for financial data and read comments on each lending company below.  (more…)

Update on recent Varks licence revocation, situation in Armenia and Finko payments to investors on Mintos



Comment by CEO of Finko Group, Janis Pizics for investors on Mintos:

Economic situation and Covid-19 impact

It is critical to understand the current economic and social situation in Armenia. Large part of the economy in Armenia consists of tourism and agriculture, and the rapid growth historically was driven by construction and service sector. (more…)

Update: Finko AM (Varks) licence revoked in Armenia



On 24 March 2020, the Board of the Central Bank of the Republic of Armenia (CBA) published a revocation of license for the lending company United Credit Joint Stock Company, which operates under the brand name Varks. Varks, as a part of the Finko group, is represented as Finko AM on the Mintos marketplace.  (more…)

Finko Armenia launches a 2% cashback campaign for Forward Flow



Today, we are pleased to announce some good news for all Mintos investors – Armenian Loan originator Varks, that is part of Finko group (with “B+” Mintos Rating), is now offering you the chance to earn a 2% bonus with Forward Flow.   (more…)

Earn up to 15% with Finko Armenia Forward Flow



We’re happy to announce Finko Armenia (Varks) as the first lending company to offer Forward Flow on Mintos.

Forward Flow is a new and unique product in the crowdlending market. A Forward Flow represents a commitment to invest in a set of pre-agreed underlying loans, at a predetermined rate for a set period of time. For the duration of the Forward Flow, investors receive weekly interest payments based on the performance of these underlying loans.  (more…)

Finko unifies its loan originators into one group



Finko, a global  finance company, has decided to bring all its brands across different markets under one group brand. Finko’s brands on Mintos are operating in Armenia, Moldova, Ukraine, Russia, and Georgia.  (more…)

Varks.am attracts long-term capital that will provide additional security for Mintos investors



Varks.am shareholders have decided to increase the registered share capital of Varks.am from AMD 455 to AMD 600 million (the equivalent of approximately EUR 1 million).  The increase of share capital will result in larger equity and raise the financial stability of the company. Share capital changes will be registered in the following weeks. (more…)

First loan originator from Armenia – Varks.am – joins Mintos



The first loan originator from Armenia has just joined Mintos! Varks.am is one of the leading alternative lending companies in the country and now offers short-term consumer loans for investment on the Mintos marketplace. Loans from Varks.am are listed in euro (EUR) with expected returns of 13%. (more…)



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