Eight months after introducing loans from GetBucks Kenya and GetBucks Zambia to the Mintos marketplace, the company is expanding its presence on Mintos with yet another investment opportunity for our global investors: consumer loans from GetBucks South Africa.
GetBucks is already present on Mintos with loans originated from Poland, Kenya, Zambia, and Botswana. The company is a division of MyBucks, a Luxembourg based company listed on the Frankfurt stock exchange. MyBucks is a pioneer in providing financial services on the African continent and has operations in 11 African countries. GetBucks was first developed and launched in South Africa in 2011, and since then has seen exponential loan and product growth, which has been driven by a focus on FinTech and strong customer service.
So, what can you get from GetBucks?
GetBucks consumer loans originated in South Africa are available on Mintos in EUR, ranging from EUR 30 to EUR 1 300. The company offers an annual interest rate of up to 12% for Mintos investors.
To keep its “skin in the game”, GetBucks will keep 5% of each loan placed on Mintos on its balance sheet. GetBucks’ consumer loans coming from South Africa also come with a buyback guarantee.
GetBucks SA is registered as a Credit Provider with the National Credit Regulator (NCR) and is seen as a responsible lender. GetBucks SA follows a stringent credit and loan application evaluation process, incorporating its bespoke credit decision making and scoring technologies as well as a set of conservative affordability rules.
GetBucks has an outstanding portfolio of over EUR 13 million on the Mintos marketplace. When it comes to customers of GetBucks SA, the average age is 37 years, with an average loan balance of EUR 413 and an average loan term of 11 months (APR is 60%).
AI and emerging markets
MyBucks is a leading FinTech company that provides financial products and services through technology, empowering its customers in 13 countries across Africa, Europe and Australia. MyBucks delivers seamless financial services and products via innovative financial technology and internationally recognised artificial intelligence. Their strong presence in Sub-Saharan Africa is confirmation of the company’s strategic approach to growth and exploration of the potential of emerging markets.
With more than 1,200 employees, MyBucks has already disbursed over 1.3 million loans with a value of in excess of EUR 500 million since 2011.
MyBucks was a winner at the European Fintech Awards for Financial Inclusion (2017) and recently won the Fintech Solution of the year award at the Luxembourg Finance Awards (2018).