E-Cash Consumer Lending Working Capital

Invest / E-Cash Consumer Lending Working Capital

E-Cash Consumer Lending Working Capital (Ukraine)

One of the leading short-term Ukrainian lenders E-Cash is raising working capital to increase loan issuance and satisfy ever-growing demand for short-term loans in the Ukrainian market. E-Cash provides short-term loans to citizens of Ukraine to cover unforeseen expenses in a timely manner.

The company was licensed by National Commission of Ukraine for the State Regulations in the Field of Financial Services Markets in November of 2017 and issued its first loan in December of the same year. Since then, as of August 13th, 2020, E-cash has issued more than 315,000 loans worth more than EUR 29 million. If we express the rapid growth of E-Cash in numbers, then their monthly revenue has increased two times since the beginning of 2019. Furthermore, by the end of April 2019, the company had already exceeded its 2018 revenue.

Currently, the loan originator has more than 105,000 clients that have taken at least one loan and more than 57,400 repeat borrowers. In total, more than 710,000 loans have been requested and 315,000 loans issued.

E-cash only issues loans to citizens of Ukraine between the age of 20 to 65-years-old. In order to receive a loan, borrowers must have an active mobile number, bank card and solid credit history.

Investment Opportunity

Current investment opportunity offers investors to make a loan with 12% annual interest rate with a monthly repayment of the interest amount and principal at the end of the loan term. The minumum target to be raised in this fundraising phase is EUR 100,000 and maximum target is EUR 300,000. Due to lending business specifics, any funds raised can be used to issue loans and even lower raised amount would not derail a proper use of raised funds.

Money raised through GainWest will be used to increase working capital and consequentely disburse more loans. Given an average loan is around 200 EUR (range between EUR 17 to EUR 400), 350,000 EUR capital would enable E-Cash to disburse at least 1,750 loans.

Security provided

The loan is covered by Gainwest Investment guarantee fund and personal guarantees by shareholders.

Structure of the deal

Taking into consideration the legal requirements and protecting investors’ interests, investors will be providing loan to Melivesa Holding (Cyprus holding, which is the sole owner of E-Cash Ukrainian entity), which in turn will use exisiting credit line agreement between Melivesa Holding and E-Cash Ukraine to extend the intra-company loan. This is done due to strict Ukrainian currency controls.

Key management

Oksana Lylyk (CEO) - 16 years of experience of financial market services in Ukraine. In CEO roles since November 2015. Perfect leader that feels the future and pushes the company ahead, bringing success and development in it. Oksana joined E-cash team 2 years ago, by then company portfolio has grown more than five times.

Svitlana Ostapchuk (Deputy CEO) - 5 years of experience in online lending market services in Ukraine. True professional with the strong work ethic. She has excellent financial education and practical experience working in several countries. She always strive for continues learning and improving her skills. She achieved exceptional results in various areas of company operations, vision crafting and leading the team.

Oksana Mezhenko (Chief Accountant) - With working experience more than 20 years, Oksana is one the best professionals in Accounting field. Excellent knowledge of international accounting reporting standards, experience in development accounting and internal audit standards, with good management skills makes her one of the most valuable employees in the company.

Andrii Yasnohorodskyi (CMO) - 16 years of experience in the financial sector marketing. He headed marketing departments in leading Ukrainian banks, including banks with foreign capital. Experience in FinTech projects in Eastern Europe and the CIS. Perfectly combines a deep understanding of marketing processes with knowledge of modern digital technologies.

Company name:	"E-CASH" LLC
Company reg. Nr.:	41548844
Country of residence:	Ukraine
Date of incorporation:	29.08.2017
Industry:	Financial services
Type of business:	64.92 Other credit granting
Revenue in 2019 :	7 012 664 EUR
Number of employees:	96
Homepage	https://www.e-cash.com.ua/ru