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Pending payment are exploding



  • 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



  • Drive ApS

    What kind of an answer is this? Are you serious? Pending payments ARE exploding. In my account from permanentet some EUR 2-400 to now above EUR 5.000 or some 10% of the invested capital. That is on top of the some EUR 6.000 in recovery, that hardly ever is collected.

    Your arguments that the business i growing and that the loan companies invest all the cash in new loans is absolutly irrelevant. My loans are to be repaid on time!

    Also settling once a week is just not good enough. Most other international financial institutions settle on a daily basis. Of cource. How else can they pay on time?

    Even an argument of interest being paid for pending payments is irrelevant. Just check how little an amount is actually added to my account.

    Credit Star (Finland and Estonia) has not settled for weeks now.

    ID Finance Mexico were to pay on 8. March. They did not.

    We saw something similar as a prelute to the crash in the pandemic.

    My conclusion: there is something very wrong here, that needs your undivided attention.

    Please also start communicating openly and honest about the issues.

    I have also written to you by e-mail and asked for senior management to get involved. So fare without any reaction.

  • 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. 

  • MMM

    Hello all

    Pending payments of ID Finance continue to increase more and more.

    It was said here that ID FINANCE had made payments two weeks ago, I think this was a lie, because the outstanding amount of this company has continued to increase.

  • KJ

    Hi All

    I am starting to get nervous to be honest, almost 20% of my funds are pending now and I notice an increasing trend over the past 2 months. I is nice to read in the above that payments are made but I need to see a tangible change first. Should I change my strategies or move towards an exit strategy?


    Annija, hello.

    Now is 24th May.... What is your suggestion to us without "please check latest update" ? Real steps?

  • 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.

  • 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.

  • @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.

  • Jan Kohout

  • Drive ApS


  • Angus

    Hi Drive aps,

    Im not seeing anything too different to other years... below Ive added my thoughts on two possible explanations. Bear in mind that transfers are not done daily between the LOs and Mintos. 

    Creditstar - For the past months they´ve offered some of the higher interest rates with new loans therefore the "netting off" process has shown pretty much instantaneous payments (Netting off - where new loans income pays the interest of already issued loans and then weekly Mintos and the LO settle the balance in whichever direction) . Currently there are some other LOs offering higher rates so it could be that the weekly balancing of accounts sees Creditstar having to transfer to Mintos, hence the pending payments increase.

    ID Finance Mexico - Payments from the LO´s in Mexico tend to take longer to hit the investors accounts than other LOs, Im not sure why but historically it tends to be this way. I see that this LO is now offering loans at the top of the interest rates so probably when they are fully invested there will be funds for the netting off process again. 

  • Flo

    Currently I see pending payments for a lot of different LO. Also it's interesting that no pending payments report was released last Friday....

    Whats up Mintos?????

  • Lucja (Mintos)

    Hi Flo, pending payments update was published this Monday instead of Friday as usual, due to internal error in the process. We apologize for any inconvenience caused.

  • Cyril F

    Same here @drive aps says it all

    whats up with Credit star ??

    Why mintos never ever answer any qiestion?

    If you have problem you have to share them!

    One more time we accept risk but not being fooled!

  • Edwin

    10% in pending. That a lot. Luckely for me only about did increase as it was half that. But for me it is mainly due to creditstar and idf and those are explained in the last 2 weekly pending payment updates. However I would like to know why creditstar is a few weeks behind. For me this is a very big red flag. So I don't invest in that one anymore. I would even in normal secondary market situations sell large part of it, just to be safer. FYI Mexico is also explained why they are behind, but I only have the ID finance Spain and not Mexico.

  • Annija (Mintos)
    Community manager

    Hi Drive ApS, Jan Kohout, Flo, Cyril F, MARIN RUMENOV YORDANOV, Edwin, please see the latest pending payments update here  

  • Sven

    Nice report, but nothing have changed since this comment. The pending payments of Credistar, ID Finance and ID Eurasia have not reduced until now. Nearly 10 % of my Credistar loans are in pending payments. When will we get the money?

  • Edwin

    For me all of creditstar pending payment have been payed.
    IDF still waiting, only a little bit came like a few euros, so they can pay, but just don't or it just takes time? Also 70% is late, so what's up with that. Technical glitch or are customers not paying anymore.

  • Sven

    It's sort of weird. I wrote a comment here a week ago. Two hours after my comment I got a payment, which reduced the pending payment of my creditstar. This payment paid nearly half the pending payment of the creditstar loans. But since that moment nothing has changed. ID Eurasia and ID Finance have paid nothing of the pending payments for a month. The pending payments of creditstar did not reduce in the last week. No comment here from any person of mintos. Is this a joke?

  • Lucja (Mintos)

    Hello Sven,

    Thank you for your comments.

    Please check out the latest updates about funds in pending payment status:

    Creditstar continues to make weekly payments to reduce pending payments. The remaining pending payments are expected to be resolved in the next weeks. Pending payment interest will be paid in full on the pending amounts.

    IDF Eurasia has successfully released the funds necessary for the planned payments during this week. A €1.1m payment has been made on 8 April and another €1m payment will be done early next week. The initial schedule was moved slightly forward as banks in Kazakhstan are processing payments manually, and they take a few working days more than before. IDF Eurasia will update its payment plan to cover pending payments in full and continue making weekly payments from both entities. Investors will also receive pending payment of interest in full. 

    ID Finance made a payment last week. Pending payment, interest will be paid in full on the pending amounts. ID Finance will
    accelerate the payment schedule over the coming weeks after finalizing the onboarding of new investors as well as decreasing issuance to release liquidity.

    Thank you for your patience and understanding.

  • MMM

    my recommendation is to stop investing and wait for all funds to be returned This way we will avoid the loss of all the capital




  • Edwin

    It should go down.IDF and creditstar are for me now on normal levels and Mexico ID finance is now also going down. Maybe also look at your diversification. Looks like your are to heavily invested in some LOs. I never came above 3% and now it's about 1.5%. FYI I only do manual investments, not via the mintos automatic ones. That also helps.

  • Marian Stanchev

    What is going on with ID Finance? Lots of pending payments from months without development. Comments from the pending payments report are useless. Generaly speaking such overdues easily leads to a default procedure in the real world, not just general comments from the sort of we will pay soon... What is exactly Mintos doing for that matter, are you degrading ID Finance score at least?

  • Mario Kasabov

    Dear Annija (Mintos),

    The same comment above applies to IDF Kazakhstan. You are writing since March that "IDF Eurasia will update its payment plan to cover the remaining pending payments in full and will continue making weekly payments from both entities".

    Tell investors' about IDF Eurasia's liquidity problems and difficulties they are facing:

    - IDF Kazakhstan is owing to the creditors (Mintos investors) Є3.4 mln pending payments and at same time on 29 April transferred only Є320k.

    - Another sign of liquidity problems is that IDF Eurasia increased its interest rate on Mintos platform from 12%/13% to 15% (don't  tell me that this is due to competitors and average interest rates have increased).

    Publish a comment from IDF Kazakhstan representatives (Boris Batin) to explain why pending payments are increasing and when they will pay Mintos investors.

    Also, write an article what kind of precautionary measures you are taking if Russia attacks/invades Transnistria and Modova - give investors information how Eleving group will exercise its Group guarantee and comments from the CEO of the Group.

  • Annija (Mintos)
    Community manager

    Dear Investors,

    thank you for the questions and feedback. As every Friday, tomorrow we will publish a weekly update on Pending Payments. As soon as it will be published we will share it also here for the community members to see.


    What about ID Finance Spain? it doesn't appear any update and this week I've had again pending payments of them.

    Regarding the pending payments of Russia, it would be a nice idea to share in the weekly document what actions you are taking in order to recover the investors money. If not, it seems you are doing nothing for it.

  • Markus

    Same here, ID Finance Mexico pending payments of 6.500€ did not decrease for about 3 months!!

  • Mario Kasabov

    Dear Annija (Mintos),

    Could Mintos clarify whether investors in IDF Eurasia loans in EUR will receive pending payment interest? From your last 2 pending payments updates (on May 6 and April 29) Mintos didn't mention anything about pending payment interest.

    If investors will not receive pending payment interest, explain why? I think that the pending payments problem with IDF Eurasia is not related to Russia sanctions and insurmountable obstacles to transfer money, rather than there is not enough money to pay Mintos investors because IDF prefers to grant new loans due to "increased seasonal demand".





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