Income marketplace welcomes the fourth loan originator Finto Capital.
Finto Capital is a fast-growing Latvian fintech lending company with a focus on sustainable and responsible lending. Finto’s lending platform focuses on giving private individuals the opportunity to lease used cars.
Finto was founded in 2018, and they have originated over € 1,7M worth of loans. Finto also has the required special license for lending services to consumers in Latvia. By complying with the local regulations, they ensure business sustainability, responsible lending practices, and fair treatment of their clients.
More than 78% of the vehicle fleet in the Baltics consists of cars older than 10 years, and banks usually only provide financing for vehicles that are not older than 10-12years. Finto’s mission is to cater to second-hand car buyers and allow them to be a part of sustainable and responsible lending, safeguarded by conservative risk underwriting. Finto’s loan decisions are based on in-house developed underwriting procedures that are constantly being analyzed and back-tested.
To start the cooperation, Finto is offering loans with yields payable of 10-12% p.a. to investors on the Income marketplace. All the listed loans are covered with a buyback guarantee which covers principal and interest and also by the cashflow buffer. Junior Share for Finto’s loans is currently set at 23%. The loans issued by Finto to its customers are secured by the financed car. Expected maturity for listed loans is up to 56 months, making Finto loans a very attractive, high yielding long term investment.
Register on Income marketplace to invest in car loans provided by Finto Capital.
