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Pending payment are exploding


74 opmerkingen


    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.


    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

    Lucja (Mintos) MintosInvester Mintos Marketing,

    Dear all,

    It's high time you stopped making fun of investors and announced when IDF Eurasia will pay its accumulated pending payments. You hide information and owe investors an explanation about IDF Eurasia's repayment plan. From the link below from the Kazakhstan Stock Exchange you can see that IDF Eurasia entered into a loan agreement and received $5 million dollars:


    IDF Eurasia is not fulfilling its obligations (in December the company is transferring weekly €500k, not €1 million), you hide information and lie investors.....  your weekly pending payments reports are meaningless. This is a scheme and I want a statement from IDF Eurasia and Mintos management about a clear deadline when investors will receive their pending payment amount.

    I am absolutely sure that tomorrow you will release information that ID Finance and Creditstar will not cover by 31 Dec 2022 the outstanding pending payments. You are running the Mintos platform unprofessionally and you are amateurs!

  • Mario Kasabov

    Dear @... 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 (https://www.creditstar.com/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. 

  • Mario Kasabov

    Dear @...,

    You are idiots at Mintos!!!

    We are not in a kindergarten. Explain investors why IDF Eurasia hasn’t fulfilled its obligations to Mintos investors. You always have excuses and you are working unprofessionally. The company has KZT 70 billion so it can transfer the agreed amount - €4 mln. On August 23, 2022 IDF Eurasia issued bonds - KZ2P00006877 (MFOKb1)" - KZT 4,000,000,000. So the company has money to transfer €8,4 mln. to bondholders, but for the Mintos investors transferring more would make it hard for IDF Eurasia to issue new loans and maintain its portfolio and revenue.

    Do you understand that you risk your reputation? This is a financial agreement, we are not on the market for bananas and tomatoes.

    Be more professional! Answer how investors would be compensated? I would like a one-time sweetener similar to Creditstar – interest 10% of my pending payment amount.

    When Creditstar and ID Spain/Mexico will start transferring money to investors? On 31st December you will again have excuses why they haven’t transferred the agreed amounts. Give us update what's happening with Creditstar and ID Spain/Mexico.

    Now, do you see why investors leave Mintos. I will never invest again on Mintos!

  • 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?

  • Sergejs Meitalovs

    Annija, hello.

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

  • Mario Kasabov

    Lucja (Mintos) MintosInvester Mintos Marketing@... Dear all,

    When will Mintos finally come out with information about when investors will receive their pending payments from IDF Eurasia. Does Mintos not consider it reasonable to provide more information on its website from IDF Eurasia owners about the company's plans on how IDF will return the money to investors, how much money was raised from the sale of bonds and future development of the company in 2023?

    Why IDF Eurasia does not issue ordinary shares to refinance the pending payments and until when Mintos will tolerate this mockery of investors.

    You weekly pending payments update is complete nonsense and does not result in increased transparency. 

  • At this moment the situation seems to be getting worse and worse for our IDF Eurasia investments. The agreed payment schedule of 1 million a week is not being fully complied to and neither the last year's agreement between Mintos and IDF Eurasia was honored. Since IDF Eurasia does not fullfill any of their duties towards investors I would recommend Mintos to start handling this situation professionally. If we take a look towards the latest financials we have available IDF Eurasia should be financially in top shape and the fact that IDF Eurasia wants to maintain their growth rate without offering interest rates of 17.5%+ like CreditStar is unacceptable to me.

    Where CreditStar shows their intention to improve future financing by offering competitive rates and improving their pending payments outstanding by showing repayments steadily and a decrease in pending payments, IDF Eurasia does not seem to care and the information shown in de pending payment reports does not seem to add up, my pending payments from IDF Eurasia have been increasing since the last 8 months and I would like to see improvement in this. Also, if IDF Eurasia is in such a big need of re-financing, why do they offer new loans with periods ranging from 5 to 25 days. Everything here seems that there strategy is wrong and they are willing to profit from the 7-day interest free pending payment period as much as possible. My advice would be that Mintos demands longer periods like a minimum of 6 months and also higher and competitive interest rates like 18% for new loans so IDF Eurasia is at least positioned as a competitive LO for investors, whereas now it only seems to be using investors from Mintos as a cash-cow. 

    By the way, if this situation does not improve within the coming 2 months I think it is time that we as investors stand together and also start applying legal pressure towards Mintos to improve this situation.My aim is to start an initiative for this if this situation is not improving by the end of february. Everything what we see from Mintos at this point is not what we should expect from a professional licensed investment platform. Mintos accepts not honoring agreements without any consequences, does not report accurately if I read back on what the customer care specialist is telling and in addition to that Mintos agrees to IDF Eurasia offering loans with a period of less than one month and non-competitive interest rates compared to the financial pressing situation that IDF Eurasia finds itself in. 

    My expectation would be that if IDF Eurasia would start increasing the interest rate towards 18%, longer term loans(6+ months) and starts a campaign on Mintos which would offer for example 1% extra bonus on 12+ month loans this situation could be resolved within few months, but the aim is to keep using investors as a cash-cow and keep ever-increasing pending payments with non-competitive interest rates and terms for new loans. It is no wonder they do not attract funding this way, even if your financial situation is excellent their strategy would still seem that they are using the interest-free pending payment term of 7 days to their maximum advantage, which personally makes me losing trust in IDF Eurasia.

  • Mario Kasabov

    Dear Wilhelmus Johannes Antonius Arts,

    I completely agree with you and I am ready to start legal actions against Mintos as regards IDF Eurasia. In its weekly pending pending payments updates Mintos is always lying " Any proceeds from the ongoing bonds sale will be used to accelerate the payments." It is not possible to take 5-6 months for IDF Eurasia to issue bonds.


  • 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.... https://www.mintos.com/en/pending-payments-updates/

    Whats up Mintos?????

  • 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!

  • 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?

  • 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?

  • 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




  • 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 @...,

    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.

  • Sergio Pujol Calle

    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 @...,

    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".




  • Mario Kasabov

    Hello @Annija,

    Mintos must be uncompromising towards IDF Eurasia, which most brazenly lies and misleads investors. From April 8 Mintos writes that IDF Eurasia "will update its payment plan to cover the remaining pending payments ”. It is now clear that IDF is looking for external financing to cover the debt to investors, i.e. investors will have to wait another month.

    @Annija, tell me which company (Mintos or IDF Eurasia) will cover my loss of profit relating to my pending amounts of €6000 - e.g. at the moment I can't invest my money with a cashback of at least 1%. In addition, you should charge investors’ interest for the first 10 days, because these days are not related to the transfer of money from a technical point of view.

    In addition, IDF Eurasia and ID Finance will have more and more pending payments because they have lost investors’ confidence and are not a reliable originator anymore - no prudent investor will invest in them.

  • Claus

    @Annija Is there at least a timeline when pending payments in EUR will be paid by IDF Eurasia?

    Ever since the update on IDF Eurasia was released on May 6th https://www.mintos.com/blog/idf-eurasia-shares-update-on-pending-payments/ , the amount of pending payments only ever increased.

  • 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 !


    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

    Drive ApS, "Pending payments have not increased further….” Mintos means payments that have been pending for more than 10 days. Obviously your pending payments from this morning are not pending for more than 10 days.

    Why investors can't understand (maybe most investors don't have financial education) that this10-day pending payment period is created by Mintos so that LOs can primarily finance themselves through Mintos and transfer money as little as possible, i.e. investors get their money when other investors invest in the same LO's loans.

  • Wilhelmus Johannes Antonius Arts

    Mario Kasabov I agree that this is the case, but still I think when pending payments get above 5 or 10% of the total portfolio on mintos, these lending companies should consider increasing the rates in order to refinance themselves via mintos. I think it is only fair. Creditstar we see kind of doing that and they increased rates to 17%, but IDF Eurasia is still at 14% which is compared to their need of money way too low in order to get themselves refinanced.

  • T Laamanen

    This is getting beyond tragicomic. My pending payments have increased over 21 000 € in last month alone. I am quite pessimistic if, for example, ID Finance can ever cover their pending amounts.

    Last time I got interest for pending payments from ID Finance Mexico was 20.06. but I think I have had pending payments from them all the time since then. Have others received interest from them lately?  


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