Monego

Last Updated: 30.06.2019. Date when the basic information was updated
Monego
Loans Originated Total volume of loans issued by this company to borrowers since its founding.
€ 21.3 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.
€ 10.9 M
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.
15%
Average Interest % The weighted average interest rate of investment opportunities from this lending company.
Website:
Founded: The year the company was founded.
2018
Employees:
213
Joined Mintos:
24.01.2019
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 company.
Currencies: Currencies in which investment opportunities from the company are offered.
EUR
Effective APR charged to borrowers: APR is not always the most representative measure of the cost of borrowing, therefore, Mintos shows effective APR. This is a unified measure among all loan originators on the platform. To calculate the effective APR, the methodology called XIRR (extended internal rate of return) is used, which is further adjusted to exclude compounding effects. Effective APR is calculated based on the cash flows charged to the borrower which includes principal, interest and any fees charged on a single loan basis, whether they are compulsory or not or are charged by a third party.
0%-295%
Outstanding investments: Total volume of outstanding investments from this company on Mintos. Updated daily.
0

About

Monego is a non-bank fast loan provider in the Republic of Kosovo. The company aims to satisfy the short-term liquidity needs of individuals. Furthermore, the company is the first in Kosovo to provide the full range of its products online. In December 2019, the Central Bank of Kosovo (CBK) suspended the license of Monego due to breaches of local regulation on APR caps for local borrowers. As a result, Monego stopped issuing new loans. 

Monego is a related party to Mintos.

Last Updated: 16.07.2019

Last Updated: 03.06.2019

Last Updated: 21.01.2019

Risk Categories

Here you can see all of the Monego risk categories on the Mintos marketplace
Risk category Est. annual bad debt rate
C+