ExpressCredit

Last Updated: 05.08.2019. Date when the basic information was updated
ExpressCredit
Loans Originated Total volume of loans issued by this company to borrowers since its founding.
€ 76.6 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.
€ 26.1 M
Buyback obligation A credit enhancement given by the lending company or other entity to the Issuer for a particular Set of Notes. 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, outstanding or late 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% - 15%
Average Interest % The weighted average interest rate of investment opportunities from this lending company.
10.7%
Founded:
2015
Employees:
296
Joined Mintos:
28.02.2018
Loan Types: The type of loan the company has issued to borrowers.
Personal loan Pledge type group unsecured
Short-term loan Pledge type group payday
Countries: Countries in which the loans were issued by the lending company.
Currencies: Currencies in which investment opportunities from the company are offered.
EUR
Outstanding investments: Total volume of outstanding and available investments from this company on Mintos. Updated daily.
4 616 448
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

Founded in 2016, ExpressCredit group is a Latvia-based consumer lending company operating across several Sub-Saharan Africa markets, including Namibia, Zambia, Botswana, and Lesotho. With more than 60 branches, ExpressCredit operates a multi-channel lending platform for government and private sector employees underserved by mainstream financiers. It offers online alternative lending solutions in countries driven by offline lending options while maintaining compliance with KYC and other regulatory requirements. The group also has agreements with private companies, unions, and government institutions (deduction codes) to enable its entities to debit repayments from borrowers’ salaries directly.

ExpressCredit group remains committed to its long-term growth strategy and has strengthened its corporate governance by incorporating local boards of directors in its countries of operation.

Some of the equity investors of ExpressCredit group and Mintos overlap

Last Updated: 09.06.2022