Creamfinance Partnership with Mintos to Offer Investments in Loans in Georgia

Fayette County Georgia Business Directory

RIGA, Latvia--(BUSINESS WIRE)--Creamfinance LLC, one of Europe's largest growing online consumer lending companies has recently reached an agreement with peer-to-peer lending platform Mintos. From now on, investors will be offered an opportunity to invest in short-term unsecured loans issued in Georgia. According to the CEO Matss Ansviesulis, an initiative to join the platform was taken with an objective to expand investment opportunities and diversify the sources of financing. We are convinced that by cooperation with Mintos, our loans will be more available to a wider circle of investors, which, in turn, will allow us to spread risk and offer investors more advantageous rates of return, said the CEO Matss Ansviesulis.

Creamfinance will originate loans of up to EUR 600 with a due date of up to one month. The net return to investors is forecast up to 14% on an annual basis. The agreement also includes a buyback guarantee, which means that if a loan is delinquent for more than 60 days, Creamfinance will repurchase it from the investor.

About Creamfinance

Consumer finance services provider Creamfinance was founded in 2012 in Latvia and has achieved an instant growth since, opening business in Czech Republic and Slovakia by the end of 2012 and in 2013 in Poland. The company is currently operating lending services and offering financial products to customers in five countries: Latvia, Czech Republic, Slovakia, Poland and Georgia. To minimize consumer effort and maximize risk management, Creamfinance puts emphasis on using the most advanced and representative scoring techniques.

Last year the data-driven consumer lending company raised 5 million euros from an international venture capital fund Flint Capital, investing across US, Israel and Europe. Creamfinance plans to use investment to increase product portfolio and facilitate expansion into new markets, such as Caucasus and South America.

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