Forward Flow, a Product for Crowdlending, Introduced by Kviku on Mintos in Euros and Russian Rouble

Peer to peer lending marketplace Mintos reports that in November 2020, Kviku introduced Forward Flow in Euro on Mintos. Now, the company is pleased to announce that it’s offering Forward Flow also in RUB (the Russian ruble).

As noted by Mintos:

“Forward Flow is a relatively new and unique product in the crowdlending market. Forward Flow represents a commitment to invest in a set of pre-agreed underlying loans, at a predetermined rate for a given period of time. For the duration of the Forward Flow, investors receive weekly interest payments based on the performance of these underlying loans.”

Kviku Forward Flows in RUB on Mintos will reportedly come with “a maturity from 6 months to 24 months, and with loan amounts from RUB 1 million to RUB 10 million.” Investors may expect interest rates “up to 20% per annum,” the Mintos team noted.

In order to get exposure to Forward Flows provided by Kviku, investors will have the option to make investments in loans provided by Mintos Finance to Kviku. As mentioned in the update, “in accordance with agreements concluded by Mintos Finance and Kviku, the loans will be secured by a pledge over part of the claim receivables of Kviku to its borrowers.”

Mintos Finance is a Mintos group company. A complete description of the structure can be found in the Mintos Finance loan agreement and assignment agreement.

As mentioned in the update from Mintos:

“Kviku forms a Group of online lending companies with operations in Russia, Kazakhstan, Ukraine, Spain, Poland and the Philippines. Kviku has more than 1 million active clients and has disbursed over 1.5 million loans.”

As of the end of last year, Kviku had “a net portfolio of RUB 1.8 billion (c. € 20 million).” Kviku is regulated by the Central Bank of Russia, the Mintos team confirmed.

Since 2013, Kviku has been providing loans via its virtual credit card and point-of-sale partners. It’s one of the leading POS microlenders in Russia. Credit scoring is performed completely online “in under 60 seconds, using a proprietary risk scoring model that is based on over 10 000 parameters and includes data from credit bureaus, mobile operators, social networks, banks, etc.,” the update from Mintos noted.

As mentioned in the announcement:

“Kviku on MintosKviku was among the first lending companies from Russia to join Mintos in 2018. The current amount of Kviku outstanding investments on Mintos is €9 365 858. There are 65 166 investors with active investments in Kviku loans, with the average investment per investor being €143.”

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