Sun Finance, one of the fastest growing online consumer lending companies headquartered in Europe, has taken the decision to unify all of its loan originators, currently listed separately on Mintos, under one group brand.
Throughout this year Sun Finance underwent structural changes to bring all of its products across different markets within a single group, in order to improve the efficiency of its operations as well as to continue establishing Sun Finance as a key player in the consumer lending industry.
Following the finalisation of this process, all Group brands have been put under the Sun Finance umbrella brand both internally and externally, including within the Mintos platform.
As of November loan originator brands Bino, Kuki.pl, Simbo, Tengo, and Dineria will be unified under the Sun Finance brand, amounting to a total of around EUR 48 million in loans currently listed on the Mintos marketplace.
What does this mean for investors on Mintos?
The change of loan originators’ brand name impacts the aforementioned loan originators’ names on the Mintos marketplace loans offering and the available filters for investing options. The five loan originators will no longer be listed separately on Mintos with their previously known brand names. Instead, investors will see Sun Finance in all filters (Auto Invest, Primary Market, Secondary Market) and on the Loan Originators’ page on Mintos. Please note that Auto Invest settings will be updated automatically – if the investor had set a strategy that involved, for example, Bino (Latvia) and Simbo (Denmark) loans, now the strategy will show Sun Finance and the respective countries where loans were issued (Latvia and Denmark).
Each of the brands will retain their identity in respective markets and no changes to their daily operations will be made.
About Sun Finance
As of September 30, 2019, Sun Finance had a net portfolio of around €62m across its operations, growing by more than 150% YOY, and the company is expected to reach the € 100 million revenue mark in 2019. The Group currently has more than 2.5 million registered customers and has received more than 5.4 million loan applications since its inception.
Sun Finance has brands listed on the Mintos platform operating in Latvia, Poland, Denmark, Kazakhstan, and Mexico. The company has issued more than € 425 million in loans to date across all of its brands and is continuously growing in its core markets as well as considering strategic opportunities in entering new markets. Some of the equity investors of Sun Finance and Mintos overlap.
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