The lending company E-Cash has informed Mintos of its plans to wind down the business. The company is still in the process of working out the details of the wind down. Taking into consideration that E-Cash has missed their regular settlement payments towards investors for the last 7 days and the upcoming wind down process is yet to be evaluated by Mintos, we have decided to suspend the company from the Primary and Secondary Markets on Mintos until the wind down process is more clear and the current commitments towards investors on Mintos have been settled. The suspension is effective immediately.
The current pending amount for investors is €407 263 with an average of 8 pending days including today. The current amount of E-Cash loans outstanding is €816 205. The current outstanding investment on Mintos is €714 312. There are 11 516 investors with active investments in E-Cash loans, with the average investment per investor being €62. Since the lending company had joined Mintos, investors have earned €272 715 in interest from their investments in loans issued by E-Cash.
The Mintos Risk Score for loans issued by E-Cash was 4 – a score indicating an elevated risk in some or most of the evaluated aspects of the investment opportunity. It now changes to Score Withdrawn – Suspended. See our Mintos Risk Score page for details on rating allocation.
We are working with the management of E-Cash to resolve the situation. We will inform investors as soon as we have more information.
E-Cash provides short-term loans to the citizens of Ukraine to cover unforeseen expenses. The company is licensed by the National Commission of Ukraine for the State Regulations in the Field of Financial Services Markets in November 2017 and issued its first loan in December of the same year. E-Cash joined Mintos in October 2019.
Suspension of a particular lending company occurs when Mintos intervenes in the market – Primary, Secondary, or both – to stop investing due to concerns about a company’s operations. Once a company has been suspended, new investments cannot occur until the suspension is lifted or lapses. A suspension from both markets is intended to protect investors’ interests by preventing investments in new loans on the Primary Market, or the sale of existing loans on the Secondary Market.