South African bank Capitec could be acquiring up to 49% of European online lender Creamfinance; the bank has structured an investment deal with three tranches totaling 21 million euros ($22.81 million) and an additional financing round which could include an additional 5.4 million euros ($5.9 million) if shareholders choose to sell an additional 9% stake in the company; Creamfinance provides online consumer loans in six global markets: Poland, Latvia, Georgia, the Czech Republic, Mexico and Denmark; Capitec says it has been analyzing international investments and sees Creamfinance as a good fit because of its business model and specifically its technology-driven approach. Source
Latvian marketplace lender Mintos and Creamfinance have partnered to list loans originated in Denmark and the Czech Republic; Creamfinance Financial Planning Director, Georgijs Ustinovs, said, "High investor demand for Creamfinance loans was our main motivation for adding a new market to the Mintos platform."; Mintos noted that the annual return to investors should reach 11%. Source