Dineo – new lender on Mintos

One of the loan originators who will be among the first additions to the Mintos marketplace in 2019 is Dineo, a company based in Spain. Founded in 2014, Dineo now offers short-term loans for investment and you can expect a net annual return of up to 10%.

Ever since its inception, Dineo has experienced exponential growth. From its foundation, the company has achieved a consistent increase in the number of new customers and stable portfolio growth. By October 2018, the company had more than 170,000 clients to whom they have issued more than 827,000 loans.

Dineo operates through its website www.dineo.es and via its more than 70 points of customer service throughout Spain, where loans can be granted and disbursed at the time when clients meet all the necessary requirements.

Spain-issued short-term loans placed on the marketplace by Dineo range from EUR 50 to EUR 500. The average loan term is 5 to 30 days and loans are repaid in a single instalment.

All loans placed on Mintos by Dineo are secured with a buyback guarantee and will be repurchased if they are delinquent for 60 days or more. In addition, the company will keep 15% of each loan on its balance sheet to maintain its skin in the game.

A loan originator with confidence

Dineo views their physical presence across the country as one of their strengths. This is because the process is client-friendly, brings transparency to the transactions and adds to the customer’s satisfaction as they are able to receive the loan in cash instantly.

To investors on the Mintos marketplace, according to Dineo, it will offer “an interest rate which is competitive and hence will move as the market does.” The initial net annual return rate will be 10%. At Dineo, they are confident about giving Mintos’ investors “peace of mind” which will come from the company’s track record and reputation.

As of October  2018, the net loan portfolio of Dineo is EUR 6.6 million, equity is EUR 3 million, and the gross loan portfolio is EUR 14.4 million.

Dineo’s creditworthiness

Dineo makes strict controls to guarantee its solvency. The company is doing check-ups every time a client performs a new operation to ensure that the situation remains optimal. Alongside checking the payment capacity of their clients, the company also addresses queries to the bureaus for credit. If the client has problems with the payment, Dineo proposes formulas for agreements to help the client plan their payments and settle their debt.

Mintos – about visibility and credibility

About joining Mintos, the global marketplace for loans, Carmen Gayo , the Manager of Dineo says: “Mintos is a marketplace that allows the lender to monetise part of the amount invested, and in addition, the marketplace helps to give visibility to the business and the brand. Having a presence on Mintos guarantees to the investor that a series of controls have been approved, and this also helps to give credibility to the business.” 

Dineo - short term loans in Spain
Dineo – short term loans in Spain

As of 2/4/2019 there are no loans from Dineo on Mintos, I will check later.

What Loan Originators are Providing EUR Loans on Mintos

Can you list what companies, that offer investments in EUR loans are actually providing loans in EUR? For me as an investor it is important to understand what loan originators are expected to FX risks, which is even more significant for countries like Russia where RUB had really wide swings in last few years.

Currently, such loan originators Mintos are:

  • AgroCredit
  • BB Finance Group
  • Bino
  • Capitalia (in Latvia, Lithuania and Estonia)
  • Creamfinance (in Latvia)
  • CreditStar (in Estonia, Finland and Spain)
  • Debifo
  • Dindin
  • Dineo
  • EBV Finance
  • EuroOne
  • Fireof
  • Hipocredit
  • ID Finance (in Spain)
  • Mogo (Latvia, Lithuania and Estonia)
  • Mozipo Group (in Lithuania)
  • Placet Group
  • Vizia

Very likely, you should use additional caution when investing in companies that do offer investments in EUR but provide loans to borrowers in other currencies.

Last week on Mintos – my porftolio results

Last week is the first full week when I switched my strategy and invest only 10 EUR in every loan. You can read more in this article. While during the same week 649 investments finished, I opened 1,514 new ones. I am quite happy with my portfolio so far!

Performance over last 7 days

Portfolio performance over last 7 days.
Portfolio performance over last 7 days

You can see that my average interest rate on new investments was 13.1%. IRR on finished investments in my portfolio (wXIRR) was 12.1%. There was a significant drop in IR for new investments as both Varks and DoZarplati dropped the interest rate from 14% and 12.5% respectively. I will need to look into the availability of high-interest short-term loans as having 12% only does not seem justifiable given there are lower risk lenders that will offer stable 11% stream of income.

So far, I am also quite happy about the difference between stated IR and the IRR archieved. As you can see, currently I am +55 bps. The weighted interest rate on finished loans was 11.6%, while the investment yielded 12.1%.

You can always see more detailed statistics on my website.

Ready to invest on Mintos? You can get ~12.0% on EUR loans with buyback guarantee and even more when you invest in other currencies or loans without buyback. Now, you can additional 1% on you investment when you use this promo link.

DoZarplati – how short-term loan works

DoZarplati is loan originator available on Mintos. DoZarplati offers mostly short-term loans with interest rates above 12% for investments with buyback guarantee in EUR. In this article you can read translated FAQ of this lender. This will help you better understand whether DoZarplati seems like good lender or not. You can compare it with what Varks has in the FAQ.

DoZarplati – Logo
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Varks – how short term loan works?

When you invest on Mintos, you can either trust that Mintos does not provide loans from companies that are incompetent, insolvent, or outright illegal, or you can do some of the research yourself. With some of the companies it is difficult as you might not understand the language the loan originator is using. In this article you can read translated FAQ of Varks. It is interesting reading as it help you understand a lot how short-term loans providers operate in general. Varks is lender on Armenia and offers quite high rates on EUR loans, up to 14%.

Continue reading “Varks – how short term loan works?”

7+ Reasons to start Investing on Mintos

There are many reasons why it is currently a good idea to invest on Mintos. If you are currently thinking about investing some money or perhaps moving funds from some other investments, you need to read this article to understand why investing in Mintos might be good for you. P2P investments are very popular in last few years. If you are ready, go and register on Mintos today. You can also read this step-by-step guide on how to start on Mintos.

Continue reading “7+ Reasons to start Investing on Mintos”