Pinjam Yuk joins Mintos. One of the most recognized lending company brands in Indonesia with its own mobile app, Pinjam Yuk, launches on Mintos and offers investors to earn up to 13% in interest per year.
Established in 2017, the Indonesian brand Pinjam Yuk is a part of a group company headquartered in Beijing, China, which has crossed EUR 27 billion in total transaction volume and grown the team to over 1000 employees (with previous experience at Baidu and other prominent financial institutions) across China, India, Southeast Asia, Africa, and Latin America.
Pinjam Yuk has more than 250 employees. The brand takes one of the leading positions on the Indonesian P2P market and facilitates mainly short-term cash loans.
As of the end of November 2019, Pinjam Yuk’s loan book had approached a value of EUR 13.5 million and a milestone of nearly EUR 180 million in facilitated loans to more than 600 thousand borrowers.
Pinjam Yuk on Mintos
On Mintos, Pinjam Yuk has received a B- Mintos Rating. The company has 10% skin-in-the-game and investors can expect to earn up to 13% return per annum. The loan amounts range from EUR 18 to 136, with the average loan amount of EUR 90 and loan term of 30 days.
All loans listed on the Mintos marketplace by Pinjam Yuk are issued by a Hong Kong company Golden Globe Financial Technologies Limited.
Pinjam Yuk’s loans come with a buyback guarantee from the company “Golden Globe Financial Technologies Limited” and also have a corporate guarantee from company “Kuai Kuai Belt and Road Holdings PTE. LTD.”.
“Our expertise in terms of machine learning, AI, big data, anti-fraud and risk control, plus long-built industry experience, has enabled us to develop a global business and we are now operating in Southeast Asia, Africa, Latin America and India. Our loan size has been growing rapidly and in Indonesia alone, we facilitate around USD 15 million loans each month and we expect our loan book to expand even more in short and long term. We firmly believe, with the support of Mintos, our business can grow at a much faster pace, to better bring financial services to people not targeted by traditional financial institutions and better promote financial inclusion” says Dai Liqi, CEO of “Surfin”, a Chinese P2P platform and group company of Pinjam Yuk.
The company expects to grow much bigger with the help of its avant-garde technology in machine learning, AI, big data and risk, plus its long-built industry experience.