DGAP-News: Nibble / Key word(s): Investment
Nibble - an ideal crowdlending platform to obtain high passive income
2021-05-17 / 09:00
The issuer is solely responsible for the content of this announcement.
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Nibble - an ideal crowdlending platform to obtain high passive income
Nibble is a platform for investing in loans issued by the companies joint under the Joymoney brand which work in Russia
and Spain. Nibble is well familiar with Joymoney's scoring process, during which clients to issue loans are selected.
Thus, it is predictable how clients with a particular category of loan will behave. One of the reasons Nibble does not
post third-party lenders on the platform to invest in their loans is that it cannot be completely sure about their
process of selecting loans to invest in
In February 2021 Nibble turned one-year-old. Despite the fact that Nibble is a young platform, it is a part of the IT
Smart Finance holding that operates in the fintech market since 2014. Companies providing loans that are getting posted
on Nibble for further investment, are also part of the holding and have been operating since 2014. The fact that all of
the operations are carried out within one holding, allows to control whole processes, reduce risks and increase
profitability for the customers. This means that if a holding company faces financial difficulties, IT Smart Finance
holding will help it.
Joymoney, together with credit scoring service Scorista, developed unique predictive models that analyze borrowers.
Using this double scoring system empowers Nibble to offer customers tailored strategies avoiding high risk.
"Nibble performed well in 2020," said Maxim Pashchenko, founder of Nibble. "But frankly speaking, the time of our
platform release was not the best. We made a lot of efforts to achieve these performance indicators: more than 1,500
users registered; more than 600 users invested in our platform; more than EUR50,000 euros in paid interest; and the total
investment in the platform was almost EUR500,000."
A new product, Flexible Investment, was developed to help investors diversify their portfolio. It involves three
investment strategies with an annual interest rate from 9.7% to 19%. Nibble made it as transparent as possible for
investors by describing all the risks that an investor may face.
At the end of each month the Risk Committee analyzes the issued loans, calibrates the scoring model and makes forecasts
on interest rate for the next periods.
"Currently, we are undergoing the process of obtaining an Anti-Money Laundering (AML) License and an Estonian Financial
Supervision Authority (FSA) Credit Provider License," explained Maxim Pashchenko. "Although they are not required by
law, we are obtaining them to make our customers feel as secure as possible when investing with Nibble. We believe that
the company's open attitude towards the risk policy has fortified investors' confidence in our platform."
The aim of Nibble is to get into the Top 3 investment platforms in Europe, it is planned to increase investment volumes
and expand the product line in 2021.
Contact Details
Ivan Sharafiev
CBO
+34722503535
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2021-05-17 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Nibble
Spain
EQS News ID: 1196805
End of News DGAP News Service
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May 17, 2021 03:01 ET (07:01 GMT)
