Ukrainian short-term lender E-cash launches on Mintos

01.10.2019

mintosblog

We are pleased to welcome another addition to the Mintos family – short-term Ukrainian loan originator E-cash! Now, you have even more investment opportunities from the country and have the chance to earn net annual returns of up to 11%.

E-Cash provides short-term loans to citizens of Ukraine to cover unforeseen expenses in a timely manner.

The company was licensed by National Commission of Ukraine for the State Regulations in the Field of Financial Services Markets in November of 2017 and issued its first loan in December of the same year. Since then, as of September 30, 2019, E-cash has issued more than 150,000 loans worth more than EUR 14 million. If we express the rapid growth of E-Cash in numbers, then their monthly revenue has increased two times since the beginning of 2019. Furthermore, by the end of April 2019, the company had already exceeded its 2018 revenue.

Currently, the loan originator has more than 59,000 clients that have taken at least one loan and more than 33,000 repeat borrowers. In total, more than 348,000 loans have been requested and 150,000 loans issued. 

“Joining Mintos and investing through financial technologies gives us an opportunity to scale our company and become sustainable. We believe that this partnership with the leading marketplace in Europe will allow us to achieve our strategic goals and helps us become one of the top micro-financial lending companies in the market,” – Says Gia Tarieladze, Group CEO.

E-cash loans on Mintos

On Mintos, you can now invest in Ukraine-issued loans from E-cash ranging from EUR 17 to EUR 400 with a maturity of up to one month. You can expect net annual returns of up to 11%.

In order to keep its skin in the game, the company will keep 10% of each loan placed on the marketplace on its balance sheet. In addition, all E-cash loans come with a buyback guarantee and will be repurchased if they come delinquent for 60 days or more.

E-cash only issues loans to citizens of Ukraine between the age of 20 to 65-years-old. In order to receive a loan, borrowers must have an active mobile number, bank card and solid credit history.

Taking into consideration the legal requirements and investors’ interests, investors will be able to obtain exposure to E-cash loans by investing in loans issued by Mintos Finance SIA, Mintos Group company, to Melivesa Holdings Ltd, an E-Cash shareholder company.

The repayment of each loan issued by Mintos Finance to Melivesa Holdings will be pegged to the repayment of a respective loan issued by Melivesa Holdings Ltd to E-Cash which, in turn, will be pegged to the repayment of the respective loan issued by E-Cash to the borrower. Mintos Finance loans will be directly secured by a pledge on claims arising from E-Cash loans issued to borrowers. 

Don’t miss out on this opportunity to diversify your investment portfolio by adding short-term loans from E-cash to the mix! If you use Auto Invest, then be sure to update your settings accordingly.