Updated: Kredo and Tigo are now a part of Mogo on Mintos marketplace

19.03.2021

mintosblog

Updated: March 19, 2021

Mogo has received approvals from the Central Bank of Albania and the Central Bank of Macedonia for acquiring Kredo and Tigo.  

Mintos Risk Scores remain the same for both lending companies, after being adjusted in the last score and subscore update, with a consideration of the acquisition by Mogo group. We remind investors that loans issued by both lending companies are secured by Mogo group guarantee. 

Please note that for the majority of investors, custom automated strategy settings will be updated automatically, however, we would like to repeatedly invite affected investors to review and adjust your settings if necessary. On 8 December 2020, we sent a dedicated email to the affected investors inviting them to review their own settings in regards to this acquisition. Please see your email or turn to the Mintos Investor Service team for support. 


Original: December 8, 2020

Mogo group has moved forward with the acquisition plans for Tigo (Finitera North Macedonia) and Kredo (Finitera Albania). Mogo Finance has added both lending companies to its consolidated balance sheet while waiting for approval from the regulators of both countries. Yet to portray the actions taken by Mogo, both lending companies and their listed loans on the Mintos marketplace from now on will be shown as a part of Mogo group.

This news follows an earlier announcement of Finitera selling two lending companies – Kredo and Tigo to Mogo. 

Mintos Risk Score and its subscores for loans offered by Tigo and Kredo already reflect the existing evaluation of both loan offerings, due to the information about the acquisition of both lending companies was already planned at the time of the latest Mintos Risk Score update and available for the evaluation of its impact on loan portfolio offering. The Mintos Risk Score and the subscores are as follows:

Tigo (Finitera North Macedonia) loans
Mintos Risk Score: 6
Loan portfolio performance: 5
Loan servicer efficiency: 7
Buyback strength: 6
Cooperation structure: 4

 

Kredo (Finitera Albania) loans
Mintos Risk Score: 6
Loan portfolio performance: 5
Loan servicer efficiency: 7
Buyback strength: 6
Cooperation structure: 4

 

Mogo will retain the Kredo and Tigo brand names in the local markets as it intends to further solidify the trust of current and new customers in the respective lending companies markets. Kredo and Tigo will also remain with the same brand names on the Mintos marketplace. 

From now on, loans issued by Tigo and Kredo on Mintos will be covered by the Mogo Finance group guarantee, as announced earlier. 

Please note that for the majority of investors Auto Invest settings will be updated automatically yet to be sure we invite each investor with active investments in the issued loans by Kredo, Tigo, as well as Mogo lending companies, to review your settings and adjust, if necessary. Each affected investor has also received a dedicated email, inviting them to review their own settings. 

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