We are pleased to announce another loan originator has joined Mintos! Moneda, a micro-crediting company from the Republic of Bosnia and Herzegovina, launches on Mintos and offers to invest in euro (EUR) loans with interest rates of up to 16%.
Moneda is a financial company that applies innovative and modern technology to offer quick and easy micro-financing solutions to individuals. The company is licensed by the Banking Agency of Republika of Srpska and operates in accordance with the Republika Srpska Law on Microcredit Organizations.
Since its launch of operations in May of 2019, Moneda has acquired a total of 9.5k new clients, out of which 6.5k have taken a loan with Moneda repeatedly. The company has over 40 employees and 7 branches in 6 cities. With the average loan amount of EUR 132, Moneda has already originated loans with a total amount of over EUR 2.1 million.
“With the local experts and team that takes data-based decisions, Moneda strives to be a leader of fintech innovations in the local financial market by closely working with the regulator and legislation makers. Our vision is to create a new market segment and fully handle customer borrowing needs in the most comfortable and easiest way possible, providing superior customer service tailored to our clients’ needs. In doing so, we at Moneda, see huge opportunity to work with a partner such as Mintos.” says Kerim Karasalihovic, CEO of Moneda.
Moneda on Mintos
On Mintos, Moneda has received C+ Mintos Rating. Investors can expect to earn up to 16% per year. The company has 10% skin in the game. The loan amount ranges between EUR 25 to EUR 200, with the loan maturity of up to 30 days.
Moneda issues loans to clients who are between 23 and 70 years of age, have a valid ID card, a working mobile phone and no bad precedents in the credit history database. All potential Moneda’s customers go through an in-depth credibility, financial, and AML checks. In addition to the eligibility criteria, returning Moneda customers are also evaluated based on their previous loan repayment performance and in case of good credit history and repayment discipline loan limits are increased.
To obtain exposure to Moneda loans, investors will be able to invest in loans issued by Mintos Finance* to Moneda, where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to Moneda will be pegged to a respective loan issued by Moneda 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 agreement and assignment agreement.
By employing innovations in technology and transparent business practices, Moneda’s goal is to increase accessibility to credit as well as offer simple and fast solutions for short-term liquidity needs for the citizens of Republic Bosnia and Herzegovina.
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