Wowwo

Last Updated: 09.09.2020. Date when the basic information was updated
Wowwo
Loans Originated Total volume of loans issued by this company to borrowers since its founding.
€ 255 M
Loan portfolio Loans issued by the lending company to borrowers at the time of the most recent financial statement that are current or less than 60 days late.
€ 22M
Buyback obligation A credit enhancement given by the lending company or other entity of a lending company group to the investor for a particular investment opportunity. If an underlying loan is more than 60 days late, the lending company is obligated to buy back the investment at nominal value plus accrued interest. Usually, this means investors will be able to recover their investment in case of a borrower default.
With a buyback obligation
Skin in the Game To ensure the interests of a lending company and investors are aligned, the company is required to keep a stake of each investment opportunity it offers through Mintos. This is called the company's skin in the game.
10%
Average Interest % The weighted average interest rate of investment opportunities from this lending company.
Website:
Founded: The year the company was founded.
2016
Employees:
130
Joined Mintos:
14.11.2019
Loan Types: The type of loan the company has issued to borrowers.
Car loan Pledge type group vehicle
Countries: Countries in which the loans were issued by the company.
Currencies: Currencies in which investment opportunities from the company are offered.
EUR
Annual percentage rate charged to borrowers:
30-45%
Outstanding Principal: Total outstanding principal from this company on Mintos.
0
Schedule extension: During the first 30 days after the due date of a loan payment, the borrower can opt for extending the loan payment schedule. The maximum number of extensions depends on the loan agreement and can't be more than 6. If the lending company agrees, the loan will be automatically updated, with the new schedule, and the due dates for all outstanding payments will be extended by up to 31 days. Investors will continue to earn the same interest throughout the remaining loan term.
Up to 6

About

Wowwo with headquarters located in Istanbul and operations in more than 54 cities across Turkey. sells second-hand cars with a company direct financing model to consumers in Turkey.

To ensure issuing loans to reliable borrowers, Wowwo has proprietary software - Wowwo Admin - that is integrated with third party institutions such as the Turkish e-government gateway services, civil registry, notary public, and Findeks credit rating.

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