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



Anmeldedatum: 19.03.2019
Beiträge: 85

BeitragVerfasst am: 02.11.2019, 15:10    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 Albania (Albania)
- Mogo (Kazakhstan)
- Mogo Renti (Latvia)
- Mogo (Ukraine) (not present in Mintos)
- Mogo (Kosovo) (not present in Mintos)
- Mogo (Bosnia and Herzegovina) (not present in Mintos)
- Mogo (Macedonia) (not present in Mintos)
- Mogo (Uzbekistan) (not present in Mintos)
- Mogo (Kenya) (not present in Mintos)
- Mogo (Uganda) (not present in Mintos)


DelfinGroup (ex ExpressCredit Group, ExpressCredit SIA) (Latvia)
- Banknote
-- Vizia

Orange Sky Finance Group (Puzzle Finance AS)
- YesCash Group
-- ExpressCredit (Botswana)
-- ExpressCredit Zambia (Zambia)
-- ExpressCredit (Namibia)

"Unknown Group"
- Peachy (Cash On Go) (Smart Finance Holding AS) (connected to Puzzle Finance AS, also known as Orange Sky Finance) Arrow Administration Arrow Wind-down

Finko Group
- Varks (TIG invest AS, ex Finko Invest SIA) Arrow License revoked in Armenia Arrow Liquidation
-- Lendo (Varks; ex Finko Invest SIA; ex Dindin Holdings Ltd Group)
- Dinero (EAG Finance AS, ex Mondoo SIA)
- Kiva (EAG Finance AS)
- Metrokredit (EAG Finance AS) => is a subsidiary of Dindin Holdings Ltd Group => is a subsidiary of Puzzle Finance AS ... Arrow License revoked in Russia Arrow Wind-down
- Sebo (TIG Invest SIA; Dindin Holdings Ltd Group)
- UkrPozyka (EAG Finance AS)

Finitera Group
- Kredo
- Moneda Arrow License revoked in Kosovo Arrow Liquidation
- Monego
- Tigo

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

Zenka Group
- Zenka Finance



Loan Originators possible connections?
- Creamfinance
- Watu Credit

References:
Expresscredit: https://www.expresscredit.lv/brands
Expresscredit (Botswana) - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/8F87750E-F73C-580F-FC3B-BECF750B655A.pdf
Expresscredit (Zambia) - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/3C709CD8-A54A-688A-C98D-45DBAC8EB84A.pdf
Finitera Group - Finitera: https://www.finitera.com/brands
Finitera Group - Monego license revoked in Kosovo (06.12.2019): https://blog.mintos.com/iutecredit-and-monego-license-revoked-in-kosovo/
Finko Group - Dinero - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/5CEB41F0-F5EB-A694-D291-A3B1AD986199.pdf
Finko Group - Finko:https://www.finko.com
Finko Group - Finko unifies its loan originators into one group (17.12.2019): https://blog.mintos.com/finko-unifies-its-loan-originators-into-one-group/
Finko Group - Lendo - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/076F1184-1FB8-A22F-7638-B6E0A9BC1645.pdf
Finko Group - Metrokredit license revoked in Russia (08.11.2019): https://blog.mintos.com/metrokredit-no-longer-issues-new-loans/
Finko Group - Metrokredit Structure: https://tinyurl.com/tg4lbcp
Finko Group - Sebo - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/A5F3D64C-425A-8CCD-220E-C9EFA612FF49.pdf
Finko Group - Ukrpozyka and Dinero listed as Finko Ukraine on Mintos* (30.12.2019): https://blog.mintos.com/new-investment-opportunities-in-ukraine-ukrpozyka-joins-mintos/
Finko Group - Varks: https://www.varks.am/ejer/kazmakerputyan-masin
Finko Group - Varks - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/B59FF51F-F634-1ACD-3B9A-5CCBD2646ED8.pdf
Finko Group - Varks license revoked in Armenia (24.03.2020): https://blog.mintos.com/varks-licence-revoked-in-armenia/
Lursoft: https://www.lursoft.lv/?l=en
Mintos: https://www.mintos.com
Mogo Finance Group: https://mogo.finance/about-us/structure/
NG Mango env: https://tinyurl.com/wnth8ds
Peachy - Cash on Go (Peachy) - Financial Statements: https://s3.eu-central-1.amazonaws.com/mintos-prod-public-files/ACC887B2-FB8C-657A-EF73-D187892B640E.pdf
Peachy - FCA - Cash on Go (Peachy): https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000khgLmAAI
Peachy - Peachy discontinue operation in the UK: https://blog.mintos.com/loan-originator-peachy-will-discontinue-operation-in-the-uk/
Sun Finance Group: https://www.linkedin.com/company/sun-finance/about/
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 09.04.2020, 17:56, insgesamt 50-mal bearbeitet
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j789



Anmeldedatum: 09.01.2019
Beiträge: 1053

BeitragVerfasst am: 02.11.2019, 16:18    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, 17:00    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, 05:04, insgesamt einmal bearbeitet
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Werbeunterbrechung / Werbung






BeitragVerfasst am: 02.11.2019, 17:00    Titel: Antworten mit Zitat



Zuletzt bearbeitet von Rick Lusitano am 06.11.2019, 05:04, insgesamt einmal bearbeitet
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Scottyffm



Anmeldedatum: 16.09.2018
Beiträge: 568
Wohnort: Fischkopp

BeitragVerfasst am: 02.11.2019, 17:33    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, 18:03    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, 18:11    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
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BeitragVerfasst am: 02.11.2019, 18:26    Titel: Re: Mintos related Loan Originators (Mintos) Antworten mit Zitat

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



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 18:27    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, 22:21, insgesamt einmal bearbeitet
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Rick Lusitano



Anmeldedatum: 19.03.2019
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BeitragVerfasst am: 02.11.2019, 18:35    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, 19:30    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



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BeitragVerfasst am: 02.11.2019, 21:28    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, 22:00    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



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BeitragVerfasst am: 02.11.2019, 22:02    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



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BeitragVerfasst am: 02.11.2019, 22:15    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



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BeitragVerfasst am: 02.11.2019, 23:41    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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