One of the methods by which the originators control the risk, is using a credit rate score system. This is a procedure of classifying every credit in different categories, based on the default probability (the probability the borrower to stop paying off their loan). All loans in iuvo have a score rate. This is needed so the credits from different originators can be compared
- AScore class A
The total amount of the loans granted by the loan originator to borrowers since its establishment
The total amount of the loans issued on the marketplace by the loan originator
In business and financing, the term “skin in the game” is used to refer to owners or principals having a significant stake in an investment vehicle, in which outside investors are solicited to invest. This is to ensure the interests of the originator and the investor in the asset are aligned, as both have a stake in the asset/ investment. On iuvo this means that every loan originator is required to keep certain percentage of each loan listed on the marketplace, which is their “skin in the game”. For example, if a loan originator issues 100 EUR loan to the marketplace and have skin in the game 30%, only 70 EUR of the loan will be available for investors to invest in. The loan originator keeps a stake of 30 EUR.
The year in which the company became profitable
Ocean Credit is founded in 2015 in Romania. It has a diversified portfolio of products in the segment of consumer lending. The focus of the company is in 100% digital loans, quickness, accessibility, and functionality. The management of Ocean Credit has extensive experience in the financial sector, which is a factor that helps the positive trends in the growth of their business.
The company operates on a regulated financial market and it is part of the holding structure OC Global Limited.
“As one of the promoters of digital lending in Romania, Ocean Credit aims at being the first to adopt emerging technologies that can help customers save time and money. That's why we consider p2p financing as a disruptive force that can help consumers make the most out of their money. Iuvo was our first choice in the alternative financing space due to their innovative platform that allows us to list the short-term portfolio and instantly access the funds we need to scale our business.”
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