BB Finance, an Estonian consumer loans company, launches on Mintos

We welcome BB Finance OÜ, a consumer loans company operating in Estonia, offering new investment opportunities on Mintos with interest rates of up to 12.5% per annum.

BB Finance’s background and accessible focus

BB Finance was founded by CEO Martin Kolu and management board member Urmo Kokmann in 2006. The company currently has over 122 thousand registered customers, more than 10 thousand active customers, and a loan book of €15 million (current to 60 days past due). The company is licensed and supervised by the Estonian Financial Supervision and Resolution Authority.

BB Finance aims to make its services accessible and efficient, with an emphasis on using technology to streamline its processes. The company’s goal is to become the preferred short-term credit partner for private individuals in Estonia. By the end of 2023, the company foresees it will earn over €2 million in profits (annualized), before interest costs.

“In 2021, we decided to wind down our business operations in Finland and focus solely on our primary market, Estonia. We covered all obligations towards the investors on Mintos who had investments in loans issued in Finland. We are happy to be back on Mintos with a strong financial standing, as we have grown our portfolio by 45% in 2023, and we have doubled our number of clients from 2021. The main motivation for joining Mintos is to solidify and diversify the company’s funding structure as we are getting ready to use the market opportunity for significant scaling. The loan book was purposefully reduced due to a conservative approach taken with COVID-19 and with the past Estonian pension reform. Now having more robust and improved underwriting models, the company believes the portfolio can be doubled, especially with having a record number of clients and 20% lower loan per client than pre-COVID. The current main driver of growth and significantly higher profitability is access to financing.”

Martin Kolu, CEO and founder of BB Finance

BB Finance Notes on Mintos

The company offers financing under the brand Raha24, established in 2006. Its main product is installment loans of up to €4 000 with a maturity of up to 60 months, accounting for around 85% of the portfolio.

Annual interest rates


Average APR*


Average loan amount

€100 – €4 000

Non-performing loans ratio (PAR 90**)


Average loan term

10 months

Skin in the game


Mintos Risk Score


Buyback obligation


Interest on delayed payments


*Annual Percentage Rate

**Portfolio At Risk (overdue more than 90 days)

The Mintos Risk Score for loans issued by BB Finance is 7.5, with subscores of 8.0 for loan portfolio performance, 9.0 for loan servicer efficiency, 6.9 for buyback strength, and 4.0 for cooperation structure. 

The security consists of a pledge over all the receivables of the lending company and a subordination agreement by and between the company, BB Finance Group OÜ, the lending company, the SPV (issuer), and Mintos.

How to invest in Notes for BB Finance

Mintos has added Notes for BB Finance to Mintos Core. If you want to invest in these Notes with a Mintos Custom portfolio, make sure to adjust your portfolio settings. If you’re investing manually, you can filter the Notes on the Primary Market.

About BB Finance

BB Finance OÜ is a consumer lending company operating in Estonia since 2006. The company operates under the laws of the Republic of Estonia and is under the supervision of the Estonian Financial Supervision and Resolution Authority. BB Finance operates in Estonia under two main brands: Raha24 and HyBa. The company focuses on user experience, responsible lending practices, and fast service. The usage of technology, as well as efficiency, is emphasized as part of BB Finance’s brand.

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