Mintos onboards Mexican microfinance company

5 months, 3 weeks ago - April 12, 2022
Mintos onboards Mexican microfinance company
Mintos has added Mexican lending company Financiera Contigo to its marketplace, offering investor returns of up to 12 per cent per annum.

The microfinance company was founded in 2010 by two brothers Allan and Emilio Cherem, who were nominated by Forbes for Mexico’s ’30 under 30′ list in 2017. It aims to improve the lives of women entrepreneurs and their families by offering them group loans, whereby a group of at least eight people cross-guarantee each other’s repayments.

Financiera Contigo has around 2,500 employees, 200,000 active clients and a loan portfolio of over €45m (£37.5m) as of the end of February.

On European peer-to-peer lending marketplace Mintos, the lender will offer investors up to 12 per cent in annual returns. The average loan size is €5,910 with a term of four months.

Mintos has given Financiera Contigo an overall risk score of six.

Allan Cherem, chief executive of Financiera Contigo, said that the partnership with Mintos has opened up his company to global investors wishing to join their mission to change women’s lives.

“Since we joined Mintos with our Contigo platform, we’ve had a great experience and were able to further expand the reach of our products and services, always maintaining our people-centric commitment and finding ways to accompany our clients and create more job opportunities,” he said in a blog post on Mintos’ website.

“In Contigo, we have more than 2,500 team members who are committed, willing and able to expand our portfolio leveraging on Mintos and thus be able to serve more people and generate a positive impact on their families and their communities through our technology.

“Likewise, we will honor Mintos trust with good experience for the investors. We are going to leave a dent in this world with the support of Mintos investors.”

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