The team at TWINO notes that they have launched a Cashback bonus campaign.
As noted in a blog post by TWINO, you can “enroll in the campaign and earn a 2% cashback bonus for investments in Polish Loan Securities during the Cashback period.”
The campaign is launched to mark one year of operations and “the successful results of Fincard Sp. z.o.o.”
According to TWINO, there has “been a growing demand from our local consumers since the start of our operations – as of now, Fincard Sp. z.o.o. has issued over 62,000 cards to the Polish clients, and the total issuance in credit lines has grown by on average 10% each month during 2023.”
As of end of April their gross portfolio “was EUR 17.5 million, yet they expect it to grow to EUR 20 million by the end of the quarter.”
With the current pace of the growth it is estimated that the net profit of the company should reach “around EUR 4 million by the end of the year.” according to Izabela Sienkiewicz, Managing Director of Fincard.
To enroll in the campaign, you may log into your investor profile, where more information is available on your Dashboard and under the “Campaigns” section.
The campaign is taking place starting from May 15th to 21st of May (included).
As noted in the update, these Securities will qualify for the Cashback:
- Country: Poland
- Loan Originator: Fincard Sp. z.o.o.
- Term: All
- Loan Securities from the Primary market
- Investments made after enrolling in the campaign
- Invested manually or with the Auto-Invest tool
- Investment period from 15.05.2023 to 21.05.2023 (included)
The cashback bonus “will be paid out within 10 working days after the end of the campaign, on 02.06.2023.”
As covered last month, TWINO have received the regulator’s approval to list the Polish Loan Securities with different interest rates.
Thus, not only different terms but also different rates of the securities “will be available on the TWINO platform further on.”
Term: from 3 to 12 months (with up to 36 months in the near future)
Interest rate: from 8% to 14%
March 2023 marked 10 months “since Fincard Sp. z o.o. has launched its new product – a fully digital credit card.”
Over these months, the product has reportedly “had an exceptional level of demand from the borrowers, thus they are currently growing their portfolio size.”
Iza Sienkiewicz, Country Manager of Poland, said the team are pleased to see that the demand from TWINO investors’ side “is strong and, thus, they are planning to diversify the term and rate structure of their liabilities.”
As noted in the announcement, make sure “to adjust your current Auto-Invest settings to maximize your investment returns in line with the newly available investment opportunities.”