Last November, Kviku launched Forward Flow in Euro on Mintos. Now, we’re happy to announce that the company is offering Forward Flow also in RUB (the Russian ruble).
Forward Flow is a relatively new and unique product in the crowdlending market. Forward Flow represents a commitment to invest in a set of pre-agreed underlying loans, at a predetermined rate for a given period of time. For the duration of the Forward Flow, investors receive weekly interest payments based on the performance of these underlying loans.
Kviku Forward Flows in RUB on Mintos will come with a maturity from 6 months to 24 months, and with loan amounts from RUB 1 million to RUB 10 million. Investors can expect interest rates up to 20% per annum.
To obtain exposure to Forward Flows offered by Kviku, investors will be able to invest in loans issued by Mintos Finance to Kviku. In accordance with agreements concluded by Mintos Finance and Kviku, the loans will be secured by a pledge over part of the claim receivables of Kviku 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.
Kviku forms a Group of online lending companies with operations in Russia, Kazakhstan, Ukraine, Spain, Poland and the Philippines. Kviku has more than 1 million active clients and has disbursed over 1.5 million loans. As of the end of 2020, the company currently had a net portfolio of RUB 1.8 billion (c. € 20 million). Kviku is regulated by the Central Bank of Russia.
Since 2013, Kviku has been issuing loans through its virtual credit card and point-of-sale partners and remains the leading POS microlender in Russia. Credit scoring is done fully online in under 60 seconds, using a proprietary risk scoring model that is based on over 10 000 parameters and includes data from credit bureaus, mobile operators, social networks, banks, etc.
Kviku on Mintos
Kviku was among the first lending companies from Russia to join Mintos in 2018. The current amount of Kviku outstanding investments on Mintos is €9 365 858. There are 65 166 investors with active investments in Kviku loans, with the average investment per investor being €143.