Mogo Group expands once again! This time, the company adds Albania, the 11th country on Mintos. Now you can invest in more car loans and get exposure to a developing economy.
Since its founding in 2017, Mogo Albania has issued EUR 7.5 million worth of loans, and as of November 30, 2019, the company has a net portfolio of EUR 4.6 million. Mogo Albania operates in a growing market and has proven a huge potential to become a highly profitable and sustainable business.
Albania has transformed from a lower-income country in Europe to an upper-middle-income country, according to The World Bank¹,². In the country, important reforms are being implemented to revitalize growth and job creation, while advancing the European Union integration agenda.
Mogo Albania on Mintos
Mogo’s Albania-issued loans on Mintos are listed in the euro (EUR) currency and range from EUR 500 to EUR 10 000, with maturity from 1 to 84 months. Investors on Mintos can expect a net annual return of up to 12%. For all loans placed on Mintos, Mogo Group will retain 5% on its balance sheet, to ensure its interests are aligned with investors on Mintos.
All Mogo Albania-issued loans have a buyback guarantee and Mintos Rating of A. On top of that, Mogo has a Fitch Rating of B-. Both ratings are a result of Mogo Group’s long-standing solid financial performance and the fact that Mogo Finance guarantees the obligations for all its entities.
As of September 30, 2019, Mogo Group had a net loan portfolio of over EUR 183 million across its operations.
To obtain exposure to Mogo Albania loans, investors on Mintos will be able to invest in loans issued by Mintos Finance to Mogo Albania, where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to Mogo Albania will be pegged to a respective loan issued by Mogo Albania SHA to the final borrower. Mintos Finance is a Mintos group company. A detailed description of the new structure is available in the Mintos Finance loan agreements and assignment agreement. Some of the equity investors of Mogo Group and Mintos overlap.
To diversify your investment portfolio and invest in Albania-issued loans with a Mintos Rating of A, be sure to update your Auto Invest settings.