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Mintos related Loan Originators(Verbind. zwischen Anbahnern)  
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Rick Lusitano



Anmeldedatum: 19.03.2019
Beiträge: 62

BeitragVerfasst am: 02.11.2019, 14:10    Titel: Mintos related Loan Originators(Verbind. zwischen Anbahnern) Antworten mit Zitat

Mintos related Loan Originators (Verbind. zwischen Anbahnern)

My goal about this thread isn't to provoke fear of investing in Mintos or in any other P2P platform. Not to create panic and exit from the investments or that people should reinvest more money in any investment. Everyone should decide for themselves the risks they wish to take.

I wish to promote a debate about the Mintos connections with some LO present there.


As almost every week or month, Mintos reveals new Loan Originators (LO) related to it, perhaps it's a good idea to create a post dedicated to that connections. The so called:
Zitat:
... related parties according to IAS 24.

Zitat:
Some of the equity investors in the loan originator and Mintos overlap.


There are cross participation between shareholders and indirect connections, for sake of simplicity I resumed like this. So far I gathered the following information:

Grumpy Investments (previously known as Skillion Ventures) (the owner of Mintos Holdings, the parent company of the Mintos Marketplace
)
- Capitalia
- Hipocredit

Mogo Finance Group (ex Skillion Ventures)
- Mogo (Latvia)
- Mogo (Lithuania)
- Mogo (Estonia)
- Mogo (Moldova)
- Mogo (Bulgaria)
- Mogo (Georgia)
- Mogo (Poland)
- Mogo (Romania)
- Mogo (Armenia)
- Mogo Belarus (Belarus)
- Mogo Renti (Latvia)

ExpressCredit Group
- Banknote
- Vizia
- Varks (Finko Invest SIA)
-- Lendo (Varks; ex Finko Invest SIA; ex Dindin Holdings Ltd Group)
- Peachy (Cash On Go) (Smart Finance Holding AS) (connected to Puzzle Finance AS, also known as Orange Sky Finance)
-- Orange Sky Finance Group (Puzzle Finance AS)
--- YesCash Group
---- ExpressCredit (Botswana) (Expresscredit Holding AS)
---- ExpressCredit Zambia (Zambia) (Expresscredit Holding AS)
---- ExpressCredit (Namibia) (Expresscredit Holding AS)


Sun Finance Group
- Bino
- Dineria
- Kuki
- Simbo
- Tengo

Finitera Group
- Kredo
- Monego
- Tigo

Zenka Group
- Zenka Finance

"Group 1"
- Dinero (Mondoo SIA)
- Metrokredit (EAG Finance AS) => is a subsidiary of Dindin Holdings Ltd Group => is a subsidiary of Puzzle Finance AS ...
- Sebo (TIG Invest SIA; Dindin Holdings Ltd Group) => Probably a ExpressCredit Group company




Loan Originators possible connections?
- Creamfinance
- Watu Credit

References:
Cash on Go (Peachy) - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/ACC887B2-FB8C-657A-EF73-D187892B640E.pdf
Dinero - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/5CEB41F0-F5EB-A694-D291-A3B1AD986199.pdf
Expresscredit: https://www.expresscredit.lv/brands
FCA - Cash on Go (Peachy): https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000khgLmAAI
Finitera: https://www.finitera.com/brands
Lendo - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/076F1184-1FB8-A22F-7638-B6E0A9BC1645.pdf
Lursoft: https://www.lursoft.lv/?l=en
Metrokredit Structure: https://tinyurl.com/tg4lbcp
Mintos: https://www.mintos.com
Mogo Finance Group: https://mogo.finance/about-us/structure/
Sebo - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/A5F3D64C-425A-8CCD-220E-C9EFA612FF49.pdf
Sun Finance Group: https://www.linkedin.com/company/sun-finance/about/
Varks: https://www.varks.am/ejer/kazmakerputyan-masin
Varks - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/B59FF51F-F634-1ACD-3B9A-5CCBD2646ED8.pdf
Watu Credit - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/C335FB6A-6B15-A2B3-77E7-9C40D0441D71.pdf



EDIT: Information will be constant updated.
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Zuletzt bearbeitet von Rick Lusitano am 07.12.2019, 15:39, insgesamt 41-mal bearbeitet
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j789



Anmeldedatum: 09.01.2019
Beiträge: 645

BeitragVerfasst am: 02.11.2019, 15:18    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

Rick Lusitano hat Folgendes geschrieben:

ExpressCredit Group
- Banknote
- Vizia
- Lendo
- ExpressCredit (Botswana)
- ExpressCredit Zambia (Zambia)
- ExpressCredit (Namibia)


Wow, i didn't know that.

What is with the new ones, like Alexcredit, E-Cash, Zenka, Esto, SOS Credit and Novaloans. I think some of these are in one Group...
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 16:00    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

Rick Lusitano hat Folgendes geschrieben:

Unknown Groups
- Kredo
- Monego
- Tengo
- Tigo



I just found more information. Kredo, Monego and Tigo belong to the same group, Finitera Group:

https://www.finitera.com/

There is a possible new LO from this group to go to Mintos in the future, Moneda from Bosnia.


As you can see his address is the same as Mintos (an office building):
Zitat:
Address: Skanstes str. 50, Riga, LV-1013, Latvia

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Zuletzt bearbeitet von Rick Lusitano am 06.11.2019, 04:04, insgesamt einmal bearbeitet
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Werbeunterbrechung / Werbung






BeitragVerfasst am: 02.11.2019, 16:00    Titel: Antworten mit Zitat



Zuletzt bearbeitet von Rick Lusitano am 06.11.2019, 04:04, insgesamt einmal bearbeitet
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Scottyffm



Anmeldedatum: 16.09.2018
Beiträge: 259

BeitragVerfasst am: 02.11.2019, 16:33    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

@rick, Maybe you will add the references?

Mogo Finance Group: https://mogo.finance/about-us/structure/
Expresscredit: https://www.expresscredit.lv/brands
Sun Finance Group: https://www.linkedin.com/company/sun-finance/about/
Finitera: https://www.finitera.com/brands

Has someone more information about the other companies/ homepages which are showing the other ones?
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 17:03    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

Scottyffm hat Folgendes geschrieben:
@rick, Maybe you will add the references?

Mogo Finance Group: https://mogo.finance/about-us/structure/
Expresscredit: https://www.expresscredit.lv/brands
Sun Finance Group: https://www.linkedin.com/company/sun-finance/about/
Finitera: https://www.finitera.com/brands

Has someone more information about the other companies/ homepages which are showing the other ones?


Yes, good ideia. I will also add other references.
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 17:11    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

New update:
SIA "POScredit" the former designation of Capitalia, was owned by Skillion Ventures

http://mintos-independent-review.blogspot.com/2016/10/peer-to-peer-lending-platform-mintos.html
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Claus Lehmann
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Anmeldedatum: 31.08.2007
Beiträge: 12690

BeitragVerfasst am: 02.11.2019, 17:26    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

Varks and Lendo belong together
_________________
Meine Investments:
Laufend: Bondora, Investly, Mintos, Estateguru, Ablrate, Viventor, Moneything, Crowdestate, Fellow Finance, Zlty, Lendix, Linked Finance, Lenndy, Iuvo, Robocash, Housers, Assetz, Ratesetter AUS, Neofinance, Bulkestate, Viainvest
Beendet: Smava, Auxmoney, MyC4, Zidisha, Crosslend, Lendico, Omarahee, Lendy, Bondmason, Finbee
Crowdinvesting: Seedrs, Housers, Reinvest24,
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 17:27    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

Lendo belongs to SIA "EC Investments", that is part of the ExpressCredit Group. Both share the same address:

Zitat:
Address: Raunas iela 44 k-1, LV-1039, Rīga, Rīga, Republic of Latvia


https://www.infoproff.com/en/companies/search/LVA12671386/40103944745/SIA%2BEC%2BInvestments

https://www.lursoft.lv/address/riga-raunas-iela-44-k-1-lv-1039
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Zuletzt bearbeitet von Rick Lusitano am 02.11.2019, 21:21, insgesamt einmal bearbeitet
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 17:35    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

Claus Lehmann hat Folgendes geschrieben:
Varks and Lendo belong together


I also read that in a forum, but still didn't find any evidence.
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Rolf771



Anmeldedatum: 14.05.2019
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BeitragVerfasst am: 02.11.2019, 18:30    Titel: Re: Mintos related Loan Originators(Verbind. zwischen Anbahn Antworten mit Zitat

I dug deep into the whole Varks/Mintos connection months ago, I actually made some progress with this with respects to the whole ownership structure and the changes that had happened. When we found out that the holding company of Varks actually had its headquarters in the same building complex where Mintos is seated, things didn''t quite look like anything at all could help make this look not shady anymore. Later at one point we were able to talk to someone within the company, but at that point we didn't even care any longer to be quite honest.

We came to the conclusion that this is more or less paradigmatic for the whole of the business. The whole thing will work out in some way for the dumb money (=the retail investors) for the time being, I guess, but if the music begins to stop, well, nobody will be there to answer any questions, I fear.
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 20:28    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

j789 hat Folgendes geschrieben:
Rick Lusitano hat Folgendes geschrieben:

ExpressCredit Group
- Banknote
- Vizia
- Lendo
- ExpressCredit (Botswana)
- ExpressCredit Zambia (Zambia)
- ExpressCredit (Namibia)


Wow, i didn't know that.

What is with the new ones, like Alexcredit, E-Cash, Zenka, Esto, SOS Credit and Novaloans. I think some of these are in one Group...


So far, Mintos only officially disclose that Zenka Finance have connections to the Mintos shareholders.
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carnold



Anmeldedatum: 20.05.2018
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BeitragVerfasst am: 02.11.2019, 21:00    Titel: Re: Mintos related Loan Originators(Verbind. zwischen Anbahn Antworten mit Zitat

Check the Lendo 2018 report, it is clearly stated that Varks and Lendo belong now have tight links, Varks bought them this year a couple of months ago. Just search the PDF for Varks or see the Lendo thread. What does this mean for the group Lendo used to belong in, still active? Getting nested!
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carnold



Anmeldedatum: 20.05.2018
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BeitragVerfasst am: 02.11.2019, 21:02    Titel: Re: Mintos related Loan Originators(Verbind. zwischen Anbahn Antworten mit Zitat

You should also list all originators in the first thread and mark those that have no known connections as singletons or whatever so it becomes easier to get the overall picture. Right now many are missing. Important thread !
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 21:15    Titel: Re: Mintos related Loan Originators(Verbind. zwischen Anbahn Antworten mit Zitat

It seems that Varks belongs to ExpressCredit Group (at least some %), also the owner of Lendo and other LO.

From the website of Varks:

Zitat:
Board member

Agris Evertovskis

Agris Jintz Evertowski (born 08․10.1984) has held the position of Board Member of "VARCS AM" CJSC since 2016. Since 2009 up to present he is a Founder and Board Member of Express Credit CIA Company (Latvia, Riga).


https://www.varks.am/ejer/kazmakerputyan-masin
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 22:41    Titel: Re: Mintos related Loan Originators(Verbind. zwischen Anbahn Antworten mit Zitat

carnold hat Folgendes geschrieben:
Check the Lendo 2018 report, it is clearly stated that Varks and Lendo belong now have tight links, Varks bought them this year a couple of months ago. Just search the PDF for Varks or see the Lendo thread. What does this mean for the group Lendo used to belong in, still active? Getting nested!


Thanks. I searched in the the 2018 Lendo's Consolidated Financial Statements (page 35):

Zitat:
According to agreement terms signed 3 May 2019 Dindin Holdings ltd, sole shareholder of the Parent, sold 100% of the equity interest to Varks Auxmoney Universal Credit Organization CJSC


https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/076F1184-1FB8-A22F-7638-B6E0A9BC1645.pdf

Apparently the Dindin Holdings ltd, the same group that owned Lendo, also was the parent of Dindin (already out of Mintos) and Sebo.
Sebo went to the same group with Metrokredit and Dinero, unknown group so far.
Lendo was sold to Varks. Varks have a participation from ExpressCredit. Expresscredit was also the owner of Lendo indirectly by the SIA EC Investments (later renamed to SIA Finko Invest).
This same Finko Invest is the owner of Varks (Varks Financial Statements, page 9):
Zitat:
The Organization is wholly-owned by Finco Invest SIA.

https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/B59FF51F-F634-1ACD-3B9A-5CCBD2646ED8.pdf



It seems a reorganization of the structures. Lendo and Varks were controlled by SIA Finko Invest (a ExpressCredit company), and now Lendo went from the Finko Invest to Varks. ExpressCredit continue to control this way Varks and Lendo. Probably the Dindin Holdings was also controlled by ExpressCredit, and now Dindin Holdings breaks apart.

About Sebo, it was owned by the Dindin Holdings ltd, (Maltese group) at least until 31.12.2017, at 31.12.2018, Sebo was 97% owned by SIA Tig Invest (see page 30), a company with links to ExpressCredit Group:

https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/A5F3D64C-425A-8CCD-220E-C9EFA612FF49.pdf
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