Mintos welcomes the first loan originator to offer investment opportunities from Russia on the marketplace – EcoFinance. The lender offers investments in online unsecured short-term loans issued in Russia under its CreditPlus brand. EcoFinance loans on the Mintos marketplace initially will be listed in euro (EUR).

“We welcome our first loan originator to offer short-term loans from Russia on Mintos. EcoFinance is a great addition to our marketplace, which increases diversity and brings new opportunities to our investors,” says Mintos CEO Martins Sulte.

Mintos offer a 1% referral bonus from every new investor’s investments, that opens an investment account and invests in Mintos loans within the first 90 days from your registration.

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Established in 2015, EcoFinance has become one of the leading consumer lenders for subprime and underbanked clients in Russia. The company is run by seasoned banking executives with vast international experience in finance and IT technologies. EcoFinance has over 1.6 million registered client accounts. As of October 2017, more than EUR 16 million in loans were funded by EcoFinance. The company has a share capital of around EUR 1 million .

Russia-issued EcoFinance loans on the Mintos marketplace will range from EUR 15 to 440, with a repayment period of up to 30 days. The expected net annual return for investors will reach 10-11%.

“We are excited to be the first loan originator from Russia to join the Mintos marketplace. Our new strategic partnership with Mintos will allow us to grow faster, and broaden and diversify our funding sources. We challenge ourselves to provide the highest quality service to all our clients, both borrowers and investors,” says Ecofinance CEO Leonid Dulenkov.

EcoFinance puts a strong emphasis on responsible lending. The company has its own algorithms to automate the process of assessing the creditworthiness of clients. Their online service allows borrowers to send loan applications via SMS or website, and funds can be accessed after two minutes. EcoFinance holds a full general microfinance company license provided by the Central Bank of Russia.

Typical EcoFinance borrowers are between 28 and 45 years old. Their average salary is around EUR 445 per month. They borrow money to cover gaps between paychecks to purchase medicine, pay for repairs on their apartment or vehicle, buy clothes or for other urgent needs. They usually repay the loan at the end of the period in one instalment. Historically, the share of EcoFinance loans delinquent for more than 60 days has been about 15%.

Taking into consideration legal requirements and investors’ interests, investors will be able to obtain exposure to EcoFinance loans by investing in loans issued by Mintos OU to Mintos Finance SIA, both Mintos Group companies.

Use this opportunity to diversify your portfolio and invest in EcoFinance loans. If you use Auto Invest on the Mintos marketplace and want to invest in EcoFinance loans issued in Russia, make sure to adjust your Auto Invest settings accordingly.

Mintos offer a 1% referral bonus from every new investor’s investments, that opens an investment account and invests in Mintos loans within the first 90 days from your registration.

Open account and Claim your BONUS here

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