Rapicredit, the Colombian-based issuer of unsecured personal loans, has expanded its offering on Mintos to include personal installment loans. Currently, the personal loans have maturities of up to 6 months and an average amount of around €100. The loans will be listed in EUR and will come with a buyback guarantee. Investors can expect a potential net annual return of up to 11%.
Since Rapicredit joined Mintos in January 2018, the company has funded loans on Mintos worth over €22 million. Based in Colombia, Rapicredit has more than 120 employees and has experienced exponential growth since its launch in 2014.
Since its inception, Rapicredit has issued more than 1.3 million loans worth around € 70 million. The company is on a mission to promote financial inclusion among those underserved by traditional banks in the developing economies of Latin America. Currently, the company has operations in Colombia and is taking appropriate steps towards expanding to additional countries in the region, such as Brazil, Peru, and the Dominican Republic, amongst others.
Rapicredit is backed by 20+ investors, including Credimax LLC from the USA, its holding company. To maintain its skin in the game, it retains at least a 5% portion of the loans it places on Mintos.
RapiCredit is one of the front-runners in the online lending industry in Colombia. The company’s business model is built on its flexible, quick, and hassle-free model to supply loans to borrowers using different online channels. The company was the first to launch a Facebook credit bot in the region. Rapicredit.com is committed to being transparent towards its customers, and this can be seen in its services – there are no hidden charges, fine print, or unexpected costs.
This article is a marketing communication and for informational purposes only, the information should not be considered as investment advice or independent investment research. None of the information shared is intended to be used as a solicitation, offer, or recommendation to buy, sell or trade any investments, or to engage in any other transaction.