Cashwagon, the first company from APAC region that has joined Mintos has expanded its offering to investors, by placing unsecured personal (instalment) loans on the marketplace.
Since Cashwagon started a partnership with Mintos in November 2018, it has funded loans on the Mintos marketplace worth more than EUR 119 million in total.
With headquarters in Singapore, Cashwagon has operations in five countries – Sri Lanka, Indonesia, Vietnam, Malaysia and the Philippines. Within the next year, the company plans to launch into more markets from the APAC region. As of November, this year, Cashwagon group’s net loan portfolio amounts to EUR 26 million.
Cashwagon’s digital solutions help more than 1 million people in APAC region to satisfy their daily financial needs.
Cashwagon’s new offering on Mintos
Cashwagon’s Indonesian digital platform now offers loans ranging from EUR 161 to EUR 645, with a repayment period from two to three months. The loans will be listed in EUR, and the expected net annual return for investors is up to 13%.
Indonesian loans listed on Mintos Marketplace are issued by Peerman Pte. Ltd., a company duly incorporated and registered under the laws of Singapore. Peerman Pte. Ltd. acts as a lender to individual borrowers on the online peer-to-peer lending platform operated by Cashwagon.
All loans listed and available for investment on Mintos are secured with a buyback guarantee by Peerman Pte. Ltd. This means, should a loan become delinquent for 60 days or more, it will be repurchased by Peerman Pte. Ltd. as the loan originator. In addition, Peerman Pte. Ltd. as loan originator keeps 10% of all loans placed on Mintos, in order to maintain its skin in the game. On top of that, an additional layer of security is ensured by Cashwagon Pte. Ltd. (Singapore) group guarantee.
