The Latvia-founded lender joined the European lending marketplace in 2015 and has since placed loans on the marketplace from 15 countries in the Baltics and Central, Eastern, and South-Eastern Europe.
In March last year, it said it had stopped issuances in Belarus, due to its engagement alongside Russia, and was focused on reducing its existing exposure to the country.
“This week Eleving Group has repaid all outstanding Belarus investments and accrued interest in the amount of €1.45m to investors on Mintos ahead of schedule, which shows that the group’s guarantee has been honoured,” the firm said in a blog post today on Mintos’ website.
“The funds have already been disbursed to investors.”
It said that it had “substantially decreased” its portfolio exposure in Belarus during the last year.
Eleving Group added that the impact of the portfolio reduction has been minimal on the group’s financials.
“In 2022 the company successfully diversified its portfolio across other markets, reducing the weight of a single market on the overall business success,” it said. “There are no changes in the performance of loan portfolios from other Eleving Group markets on the platform.”
Following Russia’s invasion of Ukraine in February 2022, Mintos removed loans from Russian and Ukrainian lending companies and has been working to recoup outstanding investments from war-affected loans.
It has predicted a 15 per cent drop in revenue from its lending companies due to the impacts of the war.