Mogo is first on Mintos to offer investments in GBP
Great news for investors looking to invest in British Pound (GBP)! Non-bank car loan provider Mogo now lists its loans issued in Poland in GBP on the Mintos marketplace. GBP is the eighth currency investors can invest in through Mintos.
“Seeing the rapidly growing number of investors from the United Kingdom and the high demand for loans listed for investment in GBP on Mintos, we decided to list our loans from Poland also in GBP. We are sure this move will be beneficial for investors on Mintos and our business, as well,” says Māris Kreics, CFO of Mogo Finance.
Mogo loans available on the Mintos marketplace for investment in GBP will be the same as Poland-issued loans already listed on Mintos in PLN. Loans will range from GBP 254 to GBP 7 350, with a repayment deadline of 6 to 48 months. The annual net return to investors will range from 8.5% to 13%. Mogo will offer a buyback guarantee for loans that are delinquent for more than 60 days. The loan originator will retain 5% of each loan placed on the Mintos marketplace as its skin in the game.
Mogo is one of the top loan originators on the Mintos marketplace. The company joined Mintos in March 2015, and has since funded car loans worth EUR 75 million through the marketplace. To date, the average net annual return offered for Mogo loans has been above 12%.
With a total of more than EUR 300 million in loans originated since the company was founded in 2012, Mogo Group is the largest non-bank car loan provider in the region, with operations in Latvia, Lithuania, Estonia, Georgia, Poland, Bulgaria, Romania, Armenia and Moldova.
The aggregate net loan portfolio of Mogo Group is more than EUR 90 million. Mogo Group has demonstrated consistent profitability. Last year, it generated EUR 6 million in net profit, and projects a net profit of EUR 10 million for 2017. See more information about the performance of Mogo Group in this presentation.
Investing in GBP on Mintos
There are two ways to invest in GBP loans on Mintos: by transferring GBP directly to your investor’s account on Mintos or by converting your currency into GBP on the Mintos marketplace.
If you would like to transfer GBP directly, please use the following bank details:
Beneficiary Name: Mintos Marketplace
Beneficiary Bank Address: 56 Shoreditch High Street, London, E1 6JJ, UK
Account holder: Mintos Marketplace
Sort Code: 23-14-70
Beneficiary bank account: 11564882
Payment purpose / details: XXXXXX investor (where XXXXXX is your Mintos investor ID number)
Be sure to indicate the exact payment purpose given in the instructions to ensure that funds reach the Mintos account in time; deviations may cause a delay in the transfer and additional fees may be applied.
If you would like to use the currency exchange on Mintos, go to the “Deposit/Withdraw/FX” section in your investor’s account and choose the “Currency Exchange” tab. For EUR to GBP conversions on Mintos, there is a market-level fee of 0.5%.
Use this new opportunity on the Mintos marketplace to achieve your investment goals!