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
- HRScore class HR
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
Kviku is one of the fastest growing international Fintech companies focused on instant online credit solutions in Russia, Kazakhstan, Spain, Poland and Philippines. On Iuvo’s market Kviku will start with the most developed portfolio – Russian one.
Since its launch in 2013, Kviku has received 5 million unique applications and issued more than 1 million loans with total volume over $70 million. Key products include: Point of sale/POS/ loans and virtual credit cards for first-time customers and Installment loans (cash loans) for returning customers.
We are happy to commence our strategic cooperation with IUVO marketplace and look forward to offer our product to thousands of investors in Europe. At Kviku, we believe that innovation is key to long-term success in online lending, alongside with diversification of capital sources. That’s why we are very excited about our new partnership with IUVO and plan to substantially grow our loan portfolio globally.
Become part of one of the fastest growing p2p investing marketplaces in Europe