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Pending payment are exploding



  • Mario Kasabov

    Dear Annija (Mintos),

    I can't understand in this situation where is my interest to have pending payments from IDF Eurasia. I will receive  a source of additional interest earning from IDF - 11.5%*1.2=13.8%, but currently cannot invest in loans with interest 15%+ (i.e. Delfin group with cashback).

    When I have invested in IDF Eurasia loans I haven't agreed to have 2-3 months pending payments and that's why I wrote Mintos must be uncompromising towards IDF Eurasia. I would like additional surcharge (e.g. 5%) due to  breaching the contract terms.

  • Annija (Mintos)
    Community manager

    Dear Investors,

    In the following weeks, we expect one large payment that will cover pending payments in the amount of a few million euros. We will share a more accurate timeline next week, so thank you for your patience until we have all the precise information, as the schedule is being prepared.

  • Alan M L

    @Annina/Mintos, I think we need more details on upcoming plans for repayments.
    Pending Payments has steadily increased in line with the comments on this thread, and now accounts for over 15% of my investments. 1 or 2 are Russian based which I understand, the others are spread and can't see why there is issues.
    I've ceased all my Investment plans, and I encourage all others to do the same to enforce the message that stronger action is needed ensure payments of investors are made without delay/concern.

  • Annija (Mintos)
    Community manager

    Dear Claus,

    In the following weeks, we expect one large payment that will cover pending payments in the amount of a few million euros. We will share a more accurate timeline soon, so thank you for your patience until we have all the precise information, as the schedule is being prepared.

  • MMM

    @Alan M L, I have also stopped all reinvestments until pending payments are below 5% of my portfolio. It is unsustainable to be almost at 25% of defaults and pending payments.

  • Mario Kasabov

    I fully agree with Alan M L. The same logic should be valid for Mintos investors, who are Noteholders. When an “event of default" happens (i.e. a LO have more than 10 days pending payments) the company ceases to operate its business and the assets are sold off - the proceeds from the sale of assets would be paid to creditors ahead of shareholders.

    I haven’t authorized Mintos on my behalf to review restructuring plans and discuss such a topic without my consent.

    I'm seriously considering leaving Mintos and not investing anymore. This is not a reliable platform to invest in a professional way.

    Mintos and IDF Eurasia are keeping away from investors information about current problems/issues relating to IDF Euarisa. IDF recently shared „update on pending payments“ talking about blah blah blah (mainly technical problems to transfer money), but I have not received the most important information. I think Mintos and IDF owe investors an explanation as regards:

    • Deterioration of the credit quality of the underlying exposures - reasons which led 30-40 million EUR out of 95 million EUR late loans on the Mintos platform?
    • How does IDF plan to pay the amounts due to Mintos investors, given that in the next couple of months they have to pay back about 5-10 million euros each month?
    • More information on the impact of anti-Russian sanctions on the Kazakh economy and IDF Eurasia loan portfolio.
    • Future expectations related to the credit quality of the underlying exposures.

    Just to say, I am a banking supervisor and have enough expertise on the subject.

  • Claus

    Annija (Mintos)

    Thank you for the update, I'm eagerly waiting for more information about the schedule!

  • Drive ApS

    Dear all,

    I have been on the Mintos platform since 2019 and seen my share of ups and downs. I have been in dialogue with various help desk staff and received some less-than-optimal explanations on the matter of exploding pending payments etc. Typically, polished answers without much substance.

    I recently spoke with co-founder Martins. 

    My overall picture is that despite all good intentions the Mintos platform has ended up being a Lending Company friendly platform. As oppose to investor friendly. In part because Lending Companies (at least the successful ones) have alternative funding possibilities (bonds etc.).

    Much have been said but what I thing we are facing is Lending Companies that are good at lending out money (primarily our money). At times it seems that they cannot get enough cash to lend out. The balance sheets of the Lending Companies goes up and so does the earnings and subsequent equity of the Lending Companies. It would seem that a constant supply of fresh cash is needed.

    However when it comes to keeping investors happy and when it comes to professional cash management, matters look somewhat different. By cash management I mean managing cash flows going out and going in – especially the timing differences and the unforeseen elements of the business (customers not paying on time, changes in the market (Mintos) place etc.).

    I have learned that many of the Lending Companies cannot get or do not have an overdraft facility to bridge timing differences. My interpretation is that that is why they use the Mintos investors as their overdraft facility (pending payments).

    Now the typical investor reaction here on Mintos is to withdraw from the market by stopping  investing. The problem with that is that it only makes matters worse. Last time I checked the were some 500,000 loans available + the secondary market - that seems to have stopped working.

    Some have argued that the Mintos platform is a Ponzi scheme (meaning that there are no true values behind the investments and that new investors are needed in order to pay existing investors and so on.

    I think that the Mintos platform has nothing to do with a Ponzi scheme.

    There are assets behind our investments and if all came to a standstill, loans would eventually be paid back – of cause with the known exceptions (defaulted Loan Companies etc.).

    The problem is the lack of balance in the model (too Lending Company friendly, lack of an effective collection service etc.) and the lack of professionalism in the Lending Companies cash management.

    I am told that the Lending Companies cannot get an overdraft facility. And that is also why they fund their business on Mintos, where investors are willing to run the risk.

    I simply do not believe that. Just looking at the P&L of the successful Lending Companies (also represented in pending payments), that should be more than enough to get a credit line in a traditional bank or by institutional investors.

    Obviously they cannot get the entire balance sheet funded. That makes sense, but they only have to have a credit line to cover the timing differences (swings), thus making the investors happy. Happy investors are good investors. Unhappy investors are not.

    So I encourage Mintos to ensure a better balance in the Mintos model between investors and Lending Companies. Strengthen the collections and communication skills of the Mintos team. Demand better cash management on the part of the Lending Companies. Demand that at payment deadline is a payment deadline, thus making the investors happy again and the investments go up again.


    Joergen Eker



  • Mario Kasabov

    Dear Annija (Mintos) MintosInvester Mintos Marketing

    To remind you of your lies:

    - About Creditstar - 27 May Pending payment report "To remind, we agreed with the management of Creditstar that proceeds from bonds (, which will be received during the first week of June, will be used to fully cover the company's pending payments".  

    Explain investors how you agree something with Creditstar and it doesn't happen? 

    - About IDF Eurasia - Mintos wrote constantly -  "IDF Eurasia will update its payment plan to cover the remaining pending payments in full and will continue making weekly payments from both entities".

    Explain Mintos investors about the results of IDF Eurasia's payment plan updates. How is it possible to "update its payment plan" without visible results for investors?

    About ID Spain - are there ongoing discussions between Mintos and ID Spain about how they will cover their pending payments? It will not happen with transferring only € 150 000 per week. 

    Please change the functionality of Pending payments information for investors. At the moment I have 10K pending payments and know nothing about which part is principal, interest and accrued pending payment interest. 

  • T Laamanen

    I have kept an eye at pending payments for some time - I understand with Russian loans things are different. Still, pending loans Russia notwithstanding are growing, at the moment for me that is about 11% of my active portfolio. What has happened during last months is my active portfolio is shrinking, all the incoming interest and principal are not even close enough to cover the capital sinking to pending payments. 
    I really hope things are getting better. This is not a question of a few hundred or a few thousand €.

  • @Annija (Mintos), I get the impression Mintos don't want to clarify the situation. We want more that "IDF and Creditsar will pay", we want act. I see that creditstar is still proposing new loans on the primary market. So Creditstar is probably a Ponzi : new investors pay for the old investors. And there are less and less new investors... so... Mintos has to go on a tribunal agains the Loan Corporations which are not paying Pending payment.

    And it would be very nice that Mintos answer the question of Mario Kasabov (22 days without any answer !).

    And I invested on Mintos because there was a segundary market. This is not working anymore. Mintos changes the rules of the game during the game. That's a shame ! I want my money back !

  • Drive ApS

    Dear all fellow co-investors on the Mintos platform,

    Dear Mr. Martins Sulte and team at Mintos,

    Reading the commentaries on the Mintos platform these days, a lot of blame is directed towards Mintos for the current situation with regards to Pending Payments etc. Especially on Wowwo, Creditstar and ID finance.

    There is much anger and frustration. I share much of the frustration and in my humble opinion some of the blame is justified and some is not.

    I have been on Mintos since 2019. So just before everything started to go bit sour. I could not tell you whether or not I have made money because the treatment of Pending Payments and In Recovery is too inconsistent and too dynamic.

    Are there challenges with the platform? Yes definitely, but is it a Ponzi scheme? Not at all. The hallmarks are simply not there. However, like any other marketplace it only works when all the players are kept in line and follows the rules. Without exception. And if all the participants feel that there is an acceptable balance between the Investors and in this case Lending Companies.

    Mintos tells us that we accept the risk when we accept the high interest rates. That is true, but under the assumption that the business model is solid, balanced and that the team is super professional. That is not always the case. We take a risk on the lending, not the business model.

    I see a lot of trust issues here. Communication that is not fully transparent. A team that does not seem fully up to the task when something goes wrong. A business model in favor of Lending Companies. E.g. the existing of Pending Payments, Pending Payments without interest for the first 10 days, contracts that are too easy to “break” in favor of the Lending Companies (E.g. Wowwo). Closing the secondary market overnight as the company became regulated - that in effect made all old investments illiquid. The introduction of fees for selling – also overnight and other terms that put the investor at a disadvantage.

    However, that is all solvable and no reason for us not to keep a calm head. That is in our own best interest. The more we call Mintos a Ponsi scheme, complain about all our money being lost and repeat our desire to leave the platform a.s.a.p. the worse it gets. No bank run has ever been successful in the sense that the customers got all their money out and left happy.

    And why would we? Mintos has a lot to offer. Where can you get 10% p.a. these days? The team has put a lot of effort into creating a user-friendly system, thus establishing a platform that on one hand gives us Investors an alternative to the stock market and on the other hand gives the new creative fintech companies (Lending Companies) access to capital to grow.

    Take ID Finance and Creditstar. Both growing businesses and both profitable businesses, that depend on expanding their business by issuing new loans to their customers. Loans that we in turn fund. If we all of the sudden stop buying and try to sell, the companies obviously get cash management issues. Right now, they have to put a halt on their expansion (including relending) and focus on repaying the Investors on Mintos and thus reducing their profitability. Any bank would get into trouble if all customers (read: Mintos investors) decide to withdraw their money fast.

    Well, have the Lending Companies planned their cash flows properly? No, they have not. As I understand it this is what started the current problems. Actually, I have discussed this with Mr. Martins Sulte. I think these fintech startup companies have something they need to learn about cash management. But we do not help by being unprofessional investors.

    I am in no position to tell others what to do. None what so ever, but I will suggest that we all consider what is in our own best interest in order to ensure our funds placed at Mintos now and in the future. I suggest that we consider this and adjust our behavior accordingly.

    I also think that Mintos need to get the Investors on board again. Get some trust back and move forward. I think that Mr. Martins Sultes meeting with e.g., Creditstar is a step in the right direction. But I also do not think that it is enough. I think we need investor representation on the board of directors of the company. Why is that, you might ask? Well for the following main reasons:

    1. Representing investor interest - ensuring the right balance.
    2. Improve communication between Mintos and the Investors.
    3. Perhaps assist Mintos in finding professional solutions and a more robust business model going forward

    and thus reestablish the trust that is so vital and in turn revitalize the appetite for acquiring loans on the Mintos platform. In my opinion this is also a key interest for the Lending Companies going forward, despite their ability to attract funding elsewhere from time to time.

    I think we all (Mintos, Investors, Lending Companies etc.) have a common interest here and - if we do it right – a great and profitable future together.


    Jørgen, Drive ApS.

  • Mario Kasabov

    Dear MintosInvester, Mintos Marketing, Annija (Mintos),

    May I make a concrete proposal - in your Pending payments weekly updates to show in an additional column the accrued pending payment interest of the rolled-over amounts from ID Finance, IDF Eurasia and Creditstar.

    Currently, investors don't know how much should be paid from the above-mentioned LOs. I just know that I have €20 000 in pending payments from ID Finance, IDF Eurasia and Creditstar and for the last week I just received €24.08 from IDF Eurasia and the one-time sweetener from Creditstar.

    I would like to say that I have a large amount of pending payments from IDF Eurasia since May and I receive some pending payment interest from time to time and don't know how much I still have to receive. It's a complete mess!

    And tell investors how they will receive their interest of the rolled-over amounts from ID Finance, IDF Eurasia and Creditstar - on a weekly basis, monthly basis, after 31 Dec 2022, etc.?


  • Wilhelmus Johannes Antonius Arts

    Dear mintos and all,

    The most important thing I have to ask about IDF Eurasia is why they keep their loans listed @14% on the primary market place, since with 20%+ being stuck in pending payments their seems to be a large backlog in pp for this loan originator. Furthermore, the numbers from the last reports do not add up. We had 7.5 million 14+ days outstanding for EUR and little less than 1 million in 7-14 days. However, in the report from 7 days later and previous week (22nd and 29th of july) we see that they paid over 1 million in each of the weeks. Still the amount in 14+ pending payments did expand to 10.16 million for EUR. How is this possible if one week earlier we had 7.5 million stuck in 14+ days for EUR and 1 million in 7-14 days for EUR IDF EURASIA. In my opinion the 14+ days amount should have been around 8.5 million for 14+ days at the MAXIMUM if IDF EURASIA did not pay any pending payments(which Mintos says they do each week). Hence, I am doubting whether this reporting is correct. From a statistical and business analyst point of view currently the reporting is not up to date and correct, hence I am wondering if you can clarify.

    Furthermore, I would just advise to IDF EURASIA to increase the primary market interest rates to at least the level of eleving group at the moment (17.5%) if they need more money. Letting get pending payments out of hand will only make investors lose interest and hence make this problem expand further as we have seen in the last months.

    Can you please clarify and take these comments into consideration?

  • Lucja (Mintos)

    Dear Investors, this is because some funds are not distributed at the time when the table is published; therefore, the cash dynamics may seem not to add up.

    We tend to inform the investors with our updates about the most recent developments, therefore we also mention that funds have been received from the lending company, however, in some cases when we report it the funds have not yet been distributed to the investors, and are in process to be done so.

  • Mario Kasabov

    Dear Annija (Mintos),

    Could Mintos share more information how investors will receive the pending payment interest from IDF Eurasia, ID Finance and Creditstar - on a weekly/monthly basis or after all regular payments (principal+interest) are paid?


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