Overslaan en naar hoofdcontent gaan

"In Recovery funds"... no change for months...


21 opmerkingen

  • Annija (Mintos)

    Hi, Adria,

    please note, at first, loans that have underlying borrower repayments are covered when the funds from the respective loan originator are received, in chronological order from the oldest to newest due. After, loans that fall into the buyback category (comes with a buyback obligation and have reached 60 days late period) or have been re-bought by the loan originator from the investor, are repaid.

    This is also stipulated in General Terms and Conditions of Platform User Agreement, section 10. "Payment for the services of the Platform and payment waterfall" User Agreement: https://assets.mintos.com/B969D561-4647-941B-487C-0013CC852B4E.pdf

    Please, bear in mind that the full amount which needs to be recovered is not fully recovered yet. This means, that the funds which you are expecting, can be part of the amount which is not transferred yet by the loan originator or because of what I mentioned above.

    We do understand the unpleasant situation of having to wait for the funds in recovery. We don't aim to brag in our updates where we inform on status while investors receive funds in recovery, and we know that it does not apply to all affected investors at the same time. We thank you for the patience granted us so far and we await the next payments that will reach your account too.



    Honestly, I have an impression that the updates about money recovered are just some random numbers generated by Mintos. How should I now that some money are really being step by step recovered? From what I'm hearing, people are not receiving nothing from CS, Varks, etc. Arguing that money are giving to people according to the order in which money have been repaid is lame. Now all the borrowers are at the same board and should receive proportionally the same money to the money in recovery, so at least borrowers see that some money are being recovered. For example I have more than 3500 Euros in CS, and although 3 payments have been received from CS to Minots, I got nothing ...


  • Adria

    That's right, Pavel, I haven't received even 1 EUR in the last 3 months. This data that Mintos displays does not appear to be accurate. The Mintos representative (Ms.Annija) who responded here mentions "full recovery of fund" but I got 0 (zero) EUR. That they paid at least 1% of the amount, to confirm the figures. All other explanations will not change the situation, that in the last 90 days I have not received any payment from "in recovery" funds, over 20% of my invested money (Capital Service, AlexCredit, Finko, etc ...)

  • Mladen Knežević

    Why funds in recovery are shown as a profit and in net anual return?

    Please remove funds in recovery from profit section


    I asked the same question because of tax payment issue. In my opinion it would be simple just to substract the money in recovery from profit as you cannot withdraw the money. And when some are finally recovered, your real profit would be just increased accordingly. But the answer I received was something like that it is not easy to determine how much money will be recovered and other bla bla stuff ... I dont get it, if you invest to bad debt which is not repaid, the profit should be decreased by the same amount you loss. The same should be with money in recovery ... but then it would look bad for Mintos if a lot of borrowers would be in red numbers (i.e., if the profit is negative instead of positive).

  • Angus

    Hi Pavel,

    In my opinion it would be simple just to substract the money in recovery from profit as you cannot withdraw the money

    This is exactly what I have declared. In 2020 that money was effectively "lost". Any return of capital and / or Interest will only occur in 2021....or later. Just have to be careful to declare both the return of Capital and Interest as taxable in the following years.


    This "Mintos community" idea where investors should share their opinions on various topics would be good as long as it would actually have an effect on improving Mintos's transparency on how these payments are made.
    But unfortunately it is not the case.All Mintos does is that they throw their policy in people's face and if they don't like it well that's too bad for them.People do not know when or if they will get their money if though Mintos claims payments are made. I think this lack of transparency is an offence brought to people who trusted Mintos in the beginning

  • Luciano Lopez Trujillo

    If everything is like Mintos explains below, why it's not possible that everybody can check such list of investors amounts in chronological order? This would help to everyone to make his mind up regarding each loan in recovery evolution.......I asked for it several times......but still waiting and for sure no single Euro recovered since last 9 months........meanwhile I don't see such list, I can't consider that Mintos is playing fair. So should I start considering that my money it's being stolen?


    Have you received any money back in the last 4 months? I haven't. Also, Mintos Support Team doesn't answer my questions regarding the repayment schedule.

  • Jürgen Schreier

    Hi @all fellow investors,

    I have also not received a single EUR for all those funds that went into "Recovery" because of Covid 19 in March and April 2020
    So no money for 18 months and counting.
    I am afraid these monies are lost for us.

    I cannot fight the feeling we have been scammed here. To many red flags like:

    a) Overlaps in the ownership of Mintos and the defaulted lending companys
    b) Defaulted lending companies have been heavily promoted in all Mintos channels and less than 2 weeks later they default
    c) Complete intransparancy about the so called recovery process
    d) No pro rata paticipation of all investors on monies allegedly recovered. As far as I know this should even be legally required from a regulated marketplace in EU.
    e) So called support (in our case mostly "Annija") give the impression they are bots or at least have no interest whatsoever to answer question. They just send the same preformulated replys over and over.
    Just check in this thread above same scheme again. 

    What really bugs me is that Mintos doesn't even care about giving us taxpayers the chance to at least claim our losses. Which could be done easily by following the process Pavel has described nicly.

    So overall we should really avoid investing in Mintos since they are no good trustees for our money and treat it as if they would OWN it as soon as we invest on the platform

  • Angus

    My tracking of in recovery... slow but at least less than before

  • Rebekka

    That gives hope:-)

    My tracking of recovery...unfortunately another trend. But I remain patient and continue to invest.

  • Luciano Lopez Trujillo

    Well, the matter it's not if the trend it's like that or like this. The matter is if Mintos can be legally responsible about we haven't recovered ALL our money yet. Does anyone know, if there is any platform/association where this issue could be legally claimed? I understand that one investor could never be interesting for any firm, but taking into account all people and total amounts being blocked by MINTOS, I hope that sooner than later users will be able to arise global and coordinated procedure against MINTOS, just to receive back what it's ours.

  • Annija (Mintos)


    Please note that loans are paid in the specified order mentioned above which is the reason why you have not received payments. Please send us an email to support@mintos.com and specify your investor ID so we can check your account individually.
  • Annija (Mintos)

    Hi Jürgen Schreier,

    Thank you for writing!

    I want to inform you that Mintos does not use bots, our IS team is 19 people strong, and we all have our dedicated tasks - I am Annija and I talk to investors in our community channels.

    When it comes to equity shareholders overlap, such cases are addressed on our website. Anyhow, there is no preference among lending companies based on this fact. Each company and the collaboration is treated with the same business etiquette (this can also be understood from the recovery project for each case).

    We are doing a lot to provide transparency about funds in recovery. Recovered funds details are shared with affected investors regularly, and we also have live AMA sessions about funds in recovery where all investors are invited to share their questions and take part in the conversation. You can find details about funds in recovery here https://www.mintos.com/blog/how-we-deal-with-loan-originator-issues-and-recovery-of-investor-funds/ and monthly updates here: https://www.mintos.com/en/funds-in-recovery-updates/

    The latest AMA session was held in October and you can find the video here: https://www.youtube.com/watch?v=0pC378BKPLc We also shared the split between current funds in recovery status and what has been recovered so far, and we believe these numbers show that we do work in the interest of investors, having recovered almost half of the total amount so far.

    The repayments waterfall is also explained in the latest AMA session, and you can find more details here: https://youtu.be/0pC378BKPLc?t=1168

    Please, note that investing involves risks, and each asset class has risks specific to it. Over the last year, we talked about how many risks related to loans have materialized at the same time in 2020. About investing and risks, find more here: https://www.mintos.com/en/security/investing-and-risk/

    We can’t agree with your statement that none of the recoveries reached your investor account. If you want to discuss this in detail, please reach out to us via phone or support@mintos.com as due to the protection of your investor data we do not discuss such topics publicly.

  • Jürgen Schreier

    I want to inform you that Mintos does not use bots, our IS team is 19 people strong, and we all have our dedicated tasks - I am Annija and I talk to investors in our community channels.

    Annija, I have already turned towards support@mintos.com several times.
    In the case of Capital Service twice if memory serves me well. 
    I can remember the inquiries being answered by you every time.
    Unfortunately - as in THIS answer to my statement - my questions - especially about as to WHEN monies that are stated in your documents are being paid back by CS to Mintos will be flowing back to us investors.

    Until now I have gotten no concrete answer - even though it should be easy for the system operator to figure this out.
    Instead I have gotten 2 times the same explanation - to make matters worse these are completly INTRANSPARENT to a simple investor in you plattform. In other words completely useless to me as an investor in terms of getting behind the payment schedule. The ONLY answer of importance apart from being able to tax deduct the current losses on the investment which wasn't answered at all.

    That is why I concluded I was talking to a bot i.e. a construct that is only providing prepared answers (i.e. links and papers) and ignoring questions they lack the prepared material for.

    We can’t agree with your statement that none of the recoveries reached your investor account. If you want to discuss this in detail, please reach out to us via phone or support@mintos.com as due to the protection of your investor data we do not discuss such topics publicly.

    That sound great than please provide me with the means to check whether I have received payback.
    Even better would be a report to tell me how much of the lost funds (in your words "Funds in recovery) in total and in percent have been recovered.
    I cannot seem to be able to find this out on your plattform. Any help would be appreciated.
    I allow you to answer this publicly since I am sure alot of my fellow investors would profit from such transparency.
    I get the feeling I am not alone with this.

    best regards


  • Annija (Mintos)

    Hi Jürgen Schreier,

    Thank you for your detailed feedback. Sure, we will be happy to share with you more details regarding your case and to clarify any other doubts you might have. For that purpose, please send us an e-mail to support@mintos.com referring to this review. Remember to use your e-mail address registered on our platform.


    Dear Annija,

    This sentence Mintos is repeating over and over cannot meant to be serious: Please, note that investing involves risks, and each asset class has risks specific to it. Over the last year, we talked about how many risks related to loans have materialized at the same time in 2020. About investing and risks, find more here: https://www.mintos.com/en/security/investing-and-risk/

    I would like to point out that Mintos should be carefully evaluating LOs and rate them accordingly, which has not been done in the past! Just simple example with Varks:

    - Varks rating has been improved from B to B+ just before their were defaulted (Note that B+ has been considered as a rather low risk). This means that Mintos did bad job in the scanning process (or was this done on purpose? Only Mintos and God know). Otherwise, how is it possible that Mintos declared LO is more solid just before it goes bankrupt?

    - Varks started to offer loans with 25% interests 1-2 weeks before they were suspended. Why Mintos even allowed to offer these very suspicious loans?? I think that many people swallowed the bait ..  

    In retrospect, both above-mentioned indicators suggest that Varks was going down and these were just desperate measures to lure investors to give them some more money. Who cares if interests is 100% as long as these are not honored, right? Mintos even don't care about lost interests that are not supposed to be recovered at all!

    The bottom line is: I agree that investing is a risk, but a calculated risk that should be based on valid data, which Mintos failed to provide. Not to mention the fact that all those loans were covered by Buyback guarantee, which Mintos changed to some vague obligation and don't care about it anymore.




    Dear Mintos,

    can you approve my comments? Otherwise, I don't see any point of the community if you simply don't approve comments you don't like .. mine is panding for 3 days!

    Thank you


  • Annija (Mintos)


    Thank you for your feedback.
    We would like to point out that Varks had outstanding financials and a well-performing loan portfolio in 2019, these are some of the reasons why Varks rating was improved.
    The reason for revoking the license given in the statement by the Central Bank of Armenia is capital inadequacy, however, as shared before with the investors:
    "Varks earned 18.5M EUR net profit in 2019 (IFRS statements, audited by Big 4 company, currently in the signing stage) and did not breach any local regulations. In the first 2 months of 2020 Varks earned 2.5M EUR net profit (management reporting). As in any normal situation, a profitable company like Varks generated profit and, therefore, cash was subsequently lent to the group treasury company to finance business development in new markets. Such lending was done starting from the end of 2018 (agreement signed in September 2018) and balances reported to the Central Bank of Armenia on a monthly basis (as part of regular reporting). A part of the mentioned loan was repaid during 2020. However, the Central Bank of Armenia regards this loan as fully unrecoverable for 2019 reporting."
    Nevertheless, Mintos is working close with Varks to recover investors' invested funds. Funds that are recovered from the borrowers are transferred on monthly basis to Mintos investors. We also share Varks operational and administrative expenses: https://www.mintos.com/blog/wp-content/uploads/2021/11/varks-report-4-november.png
    More information can be found at the recovery page: https://www.mintos.com/en/funds-in-recovery-updates/

    I have the same problem with Capital Service.


    Capital Service is paying to Mintos every month. We can see in the updates web that mintos have. But, in 6 months, i dont receive any EUR. If i talk with support, the answer is that the funds are retorning in chronogical order.

    We dont need to know every loan, or the other people that have loses too. A simple field of the date that Mintos is paying loans and the % recovery in total is enough to see the progress. Transparency and confidentiality. Now we are blind and frustated.

    Anyway, i dont like the chronogical order method. Is better to all investors to receive a % of their money in each pay of the lender. All win something, because with the cronogical order, if you have bad luck, you can receive zero EUR, and others receive all its money.


U moet u aanmelden om een opmerking te plaatsen.