You can now invest in short-term loans issued by ID Finance in Russian ruble (RUB) on Mintos! This is a great opportunity to diversify your portfolio and earn interest rates that are above average.
The average Kazakhstan-issued ID Finance loan listed in RUB is around RUB 70 000 and you can expect annual returns of up to 18%.
The updated information on the financial performance of ID Finance’ Kazakhstani asset Solva demonstrates positive dynamics. In 2019, Solva reported a 300% growth over the year according to preliminary management reporting data ¹. In December 2019, the company’s portfolio amounted to € 42.7 million compared to € 12.8 million in December 2018. According to the National Bank of Kazakhstan, for the first half of 2019 Solva earned a net profit of € 665 000. The company’s market share grew from 2.6% in 2018 to 2.7% in the first half of 2019. Audited reporting will be published tentatively in May 2020.
Kazakhstan is home to 172 registered MIFs with total assets of € 718.3 million (as of Q2 2019), 108 of which were profitable by the end of 2019. With 27.5 million EUR (a 32.1% YOY growth) and a market share of 3.8% in terms of assets, Solva ranked fourth among these companies ².
Judging by the current run-rate, in 2020, ID Finance Kazakhstan is planning on significantly improving profitability by improving approvals and recovery rate. The company is planning on strengthening existing segments and entering new ones (e.g. refinancing and SME business loans). Just in the first 2 weeks of 2020, the growth in active customers amounted to 66% compared to January 2019. In 2019, the number of registered users grew 219% YOY. As of January 2020, Solva has more than 644 000 registered users, or 6.5% of the country’s employable population, and 90% of them are returning customers.
Solva specializes in digital lending and refinancing to individuals and micro-business and is considered to be a pioneer in introducing innovative financial technologies.
Don’t miss the opportunity to invest in one of the fastest-growing fintechs in Kazakhstan.