Finto Capital, a Loan Originator from Latvia, has recently secured a large funding facility from an institutional investor and is exiting the Income platform. To facilitate the early exit and buyback of loans, on 17th January, we pushed all Finto loans into buyback status.
Finto Capital will buy back all obligations with all interest accrued. In addition, Finto will pay an agreed notification period interest to investors, which we will communicate once the transaction is finalised. Finto will aim to finalise the transaction and buyback within two weeks from today.
Rihards Behmanis, the Co-Founder and CFO of Finto, says: “Our cooperation with Income has always been very business oriented. We believe it is already a top-tier marketplace with unique security layers that protect its investors at another level.
We are happy to be a part of their journey, and we are proud that we had an opportunity to be among the first loan originators on Income. Over time, our funding strategy has changed, and we have obtained a long-term funding source to better support our business needs. Therefore, within the following weeks, we will make a buyback of our loans listed on the Income marketplace.
I would like to express gratitude for our successful cooperation and the continuous support from the Income team.”
Kimmo Rytkönen, founder and CEO of Income, says, “We are very pleased with Finto´s approach to business, and communication with them was effortless throughout the cooperation. The Income team thanks Finto for the cooperation, and we wish them all the best as they scale their business with the help of the new long-term funding source.”
Finto Capital was one of the first Loan Originators to join Income in 2021. They offered car loans with up to 12% p.a. yields on our platform, secured by a pledge on assets.
Since their launch in September 2021, 830 investors have invested in Finto’s loans, funding € 396 198,50 worth of loans altogether and earning € 26 921,17 in interest to our investors.
Update 31.01.2023: Finto finalises exit transaction with Income.
