Nera Capital investors — time to stop waiting quietly?
15 weeks, zero payment. Interest, principal, nothing. "Final stages" of a term sheet since June 15 — still unsigned two weeks later.
Meanwhile Nera Capital Ltd is announcing new $75M funds and a "$1 billion" portfolio milestone on LinkedIn. Money is clearly moving somewhere — just not toward us.
Worth knowing: the SPV holding our notes had under £1M cash against £59M owed in its last filed accounts. The secondary market won't touch these notes even at 30% off. And Mintos itself admits it can't verify the SRA review independently — everything we've heard comes from the law firms who owe the money.
If you're affected and want to compare notes, reply below. Worth deciding together what's next: Trustpilot, a Latvijas Banka complaint, maybe a journalist.
Mintos's next update lands ~July 13. If there's still no signed term sheet by then, polite patience isn't a strategy anymore.
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It’s a shell lending to a shell. What nera makes is irrelevant.
Regulator won’t move, terms are compliant,Bite the bone and accept you have 0 control on what is happening, it won’t turn as bad as many fear around here.
Planet42 was a lost cause 2 years ago and it’s now over 70% back. Is it irritating, absolutely.
Can it be changed, no…
Welcome to that tranche of investment 🤷🏻♂️🤣1 -
Very bed situation with Mintos becoming more and more silent day by day while overdue loans increase constantly not only for Nera but also for other companies with no action executed just only reporting and waiting. Nera joined Mintos in 2024 with big push by Mintos for their loans with high return rate and cashback that suggested strong partnership, but suddenly Nera score moved from 7.4 to SW in just few weeks with Mintos demostrating no power on Nera management to resolve this situation that they together created, it is not only a Nera failure. Mintos' score is completly unuseful and they engage the loan companies on fly with no recovery process in place. I'm no more confident to invest any euro in Mintos if they will not demonstrate soon to have power on lending companies. In the mean time I started to withdrow all my investment and I suggest all to do the same to put pressure on Mintos management.
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All,
just came to grasp the Nera issue in the last few days, and upon reading several threads here & elsewhere (Reddit etc), it grows on me that Mintos isn't as trustworthy at it seems. I'm 'only' in Nera w ca 5k (compared to some sums mentioned here) , but that's still more than enough. - I'd be interested to learn about any joint action taken. If it's true that Nera is still doing business on other platforms & announced funding on Linkedin, it does raise questions on why Mintos customers are put on hold for weeks on ends. Looking fwd to learn more, as new info comes in, hopefully.
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Nera Capital — has anyone actually filed anything yet? (Latvijas Banka / SRA)
Following up on the "time to stop waiting quietly" thread — has anyone here actually taken a formal step yet, either with Latvijas Banka (Mintos's supervisor — the old FCMC was merged into it back in 2023, in case people are still writing to the wrong address) or any other authority, specifically about Nera Capital / Nera Notes? Not looking to start another venting thread — genuinely asking if a complaint, regulatory notification, or any kind of documented filing has already been submitted by someone here.
A few facts worth putting on the table for anyone still deciding whether this is worth pursuing:
- Interest payments stopped around 25–26 March, the 20 May principal payment was missed, and as of the 15 June update Mintos itself admitted a display error where some Nera payments were incorrectly shown as "Paid."
- The last filed accounts for the SPV holding our Notes (Nera Capital Funding 2 DAC) showed under £1M cash against roughly £59M owed.
- The UK entity Mintos' own documentation names as the loan servicer ("Nera Capital Ltd", Companies House no. 14520128) has filed dormant-company accounts for three years running.
- Nera's own "Financials" document on the Mintos lending-company page hasn't been updated since July 2024.
None of this proves wrongdoing on its own — but it's more than enough to justify one well-documented, joint complaint instead of everyone emailing separately and getting the same copy-paste reply back.
If nobody has filed anything formally yet: would people here be willing to co-sign or contribute to one — even just a shared timeline + source pack that each investor can submit individually to Latvijas Banka? Happy to help compile it if there's enough interest.
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thanks for putting this brief together, it's really insightful. I'm far from even knowing how to purspue a formal process; but I found a quora thread on how to contact John Oliver's show for a story pitch; they do investigative pieces and have reported on the unethical side of microloans before: https://www.quora.com/How-do-I-contact-John-Oliver-with-a-story-idea
I'm contemplating putting a 1-2pager together and give it a shot, if noone else has a better press idea, e.g.
Also, happy to join any action when it comes to mailing into eg the Latvian state bank or somewhere; but I'd have to have a deeper understanding of what to say, before contacting them.
Also, Tomm1q, would you be able to elaborate further on 'has filed dormant-company accounts for three years running' - does this relate to Nera filing this with Mintos, or with authorities in UK or IR? (the first I would say, that's not good, the latter I'd be very seriously concerned).
Thanks and let's see how this plays out further.
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Laura Henke,
Hello friends, it's nice to hear from someone. I am one of the most devastated by Nera's default and I have overdue over €65,000 plus another €9,000 coming up. In total, I have a credit of about €74,000 with Nera Capital and who knows if I will ever recover it. I have written a lot and written, but I haven’t achieved anything. All I’ve done is ask for help, complain, but few have responded, and I mention Ugo and a few others. I submitted a formal complaint to Mintos, who responded in about a month with the usual recycled answers. Let's do something, please. Those who took our money in such a clever way cannot go unpunished, and they continue to work tirelessly without any problem and without honoring previous debts. How is it possible that Mintos allows all this? Nera operates without issues on other platforms as if nothing happened! Let's do something. Mintos should have been more careful about the origin, know these mechanisms because it’s their job and their responsibility, not ours.
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