We’re happy to announce a new Forward Flow offering by Sun Finance Kazakhstan.
A Forward Flow represents a commitment to invest in a set of pre-agreed underlying loans, at a predetermined rate for a set period of time. For the duration of the Forward Flow agreement, investors receive weekly interest payments based on the performance of the underlying loans. The principal is paid back when the Forward Flow matures. Learn more
The company’s Forward Flows will start with maturities from 1 and 2 years and interest rates up to 9%. Each Forward Flow will have an amount of €50 000 to €100 000.
The typical borrowers of the company’s issued loans are tech-savvy millennials and gen-z (19-35 years old) individuals with an active bank account. These customers are typically either employed or self-employed with regular income and prefer speed, convenience and price when considering the product.
Regarding due diligence, Sun Finance Kazakhstan’s credit risk underwriting strategy is fully automated using internally developed solutions and global fraud checking systems. Customers’ creditworthiness is assessed using internal risk scoring models that also use external data sources, such as credit bureau data.
The company’s Forward Flows are secured by a group guarantee, provided by the Group’s holding company AS Sun Finance Group (Latvia).
How to invest in Sun Finance Forward Flows
Investors can invest in Sun Finance Forward Flows like in other loans on Mintos. To invest in Sun Finance Kazakhstan’s Forward Flow with a custom automated strategy, please make sure to select Forward Flow in the loan type filter.
To obtain exposure to Forward Flows offered by Sun Finance, investors will be able to invest in loans issued by Mintos Finance to Sun Finance. In accordance with agreements concluded by Mintos Finance and Sun Finance, the loans will be secured by a pledge over part of the claim receivables of Sun Finance to its borrowers. Mintos Finance is a Mintos group company. A detailed description of the structure is available in the Mintos Finance loan agreement and assignment agreement.
Sun Finance on Mintos
Sun Finance joined Mintos in 2017. The current amount of Sun Finance outstanding investments on Mintos is €17.1 million. There are 53 721 investors with active investments in Sun Finance loans, with the average investment per investor being €318 (as of 28 January 2022).
About Sun Finance Kazakhstan
Sun Finance Kazakhstan is part of the Sun Finance Group – a financial technology company established in Riga, in 2017, by CEO Toms Jurjevs and co-founder Emīls Latkovskis. Sun Finance operates as an online consumer financing platform in seven countries on three continents, with headquarters in Riga, Latvia. Most recently Sun Finance was named the #2 fastest growing company in Europe by FT1000. Sun Finance has more than 6 million registered customers and employs more than 1000 people, 148 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 10 years of experience in managing FinTech, financial and IT companies.
Sun Finance Kazakhstan currently has 1.1 million customers with a total loan portfolio worth €31.3 million (net). Since its inception, the company has issued more than 2.5 million loans.
Some of the equity investors of Sun Finance and Mintos overlap.
