Our company's most relevant current topic is a new Spanish loan originator, FinJet. Accordingly, we have received some investors' requests regarding FinJet's legal setup, scoring model and services. We are happy to provide you with more details about this new investment opportunity coming soon.
Legal Setup
As before, we use a proven practice with a business in a new country to purchase a local company with no market experience. The purchase and sale agreements are already notarised, and we have all the power to manage the company. There is only one final step left: the publication of the company's registration in the National Register Center, which will happen in the upcoming days.
Legal details:
- Company Name: Mana Concept S.L.
- Registration Number: B67420703
- Shareholders: UAB "Hive Finance"
- UBO: UAB "Hive Finance"
Scoring Model
From our experience, effective risk management is one of the most critical aspects of a successful lending business. Therefore, FinJet uses market-leading scoring providers. These providers offer valuable raw data and credit risk scoring, forming the foundation of FinJet's decision-making process. We integrate a few providers' scoring into a robust decision tree to reach the best result.
FinJet Services
Initially focusing on personal short-term loans ranging from 100 to 500 Eur with a 30-day term, FinJet plans to expand its offerings to include instalment loans in 2024. Notably, in Spain, there is no specific regulation regarding a price cap on these loans, allowing flexibility for the growth and development of the lending services.
Business Loans on Hive5
Firstly, FinJet will offer to invest in the company's business for investors seeking alternative opportunities on the platform. While the primary focus is on personal loans initially, business loans will be considered as an alternative way of funding before the company establishes a significant volume of personal loans. The purpose of business loans is to carry out operations and expand business.
Competitive Advantages
FinJet aims to stand out with its maximum technological effectiveness of processes and a concentrated focus on solutions that minimise the need for human resources. The Spanish team wants to simplify operations, enhance efficiency, and provide customers with trustworthy lending services.
CEO of FinJet, Alex Teslenko, says: "We intend to enter the Spanish market using previously accumulated experience, developments, and know-how. The FinJet brand carries the same meaning we want to bring to our client: our service is simple, profitable, and, most importantly, fast, like a jet plane."
A dedicated team of high-level professionals is actively working on a quick launch to ensure a seamless and successful entry into the lending landscape.
Please stay tuned for further updates.
