Invest / Finprotect Factoring Services Working Capital
Introduction about the company
Company "Finprotect" was established in May 2019, while in July 2019 factoring licence was extended by the Commission for Regulation of Financial Services Markets of Ukraine. The company has its focus on services of the troubled assets. During relatively short time span Finprotect has been actively competing and winning several tenders for buying problematic assets of various financial companies. Key strengths of the company is the loyal, personalized and multi-sided approach in solving financial issues of each company's client.
Since 2019 Finprotect has slowly but steadily acquired market share in the troubled assed servicing space and is currently on its way to acquire leading positions in the Ukrainian factoring services market. Already today Finprotect is working with TOP 10 companies from the short-term micro lending industry. Finprotect is using its expertise to patiently recover funds from the troubled debtors, while the micro lending companies can aling its internal resources on extending loans - win-win situation for both involved partners.
Every company both in microlending and factoring space has to be licenced in Ukraine by the Commission for Regulation of Financial Services Markets of Ukraine.
The market price for the troubled assets in the Ukrainian short-term microlending space is very low: 5%-10% from the nominal amount, depending on the quality of the assets. Once Finprotect acquires such troubled assets, the company has the right to recover full 100% principal of the loan in addition to accrued interest. Therefore, the profit potential for this transaction is tremendous. However, the work with debtors takes time, as every individual recovery case is unique. Therefore, the investment project is offered for 12 months, which is a typical cycle to work and agree with the troubled debtors repayment plan and recover funds.
The raised amount will be used directly to purchase troubled debtor loan book either from tenders or direct agreements with the lending companies. There are currently more than 200 officially registered micro lending companies in Ukraine, which can potentially become clients of Finprotect services.
Company homepage - https://www.finprotect.com.ua/
Money raised through GainWest will be used to increase working capital and consequently purchase troubled assets through tender auctions and individual agreements with the lending companies. Purchase price of troubled assets are typically in the range of 5%-10%, depending on their quality, issuing company and aggregate amount. Raising 50,000 (maximum target) would allow to purchase 500,000 - 1,000,000 EUR nominal worth of troubled loans. Extensive and patient work with the debtors is needed over an extended time span, therefore, the project will last 12 months to cover typical debt collection cycle.
The loan is covered by Gainwest Investment guarantee fund and personal guarantee by the company's main sharehoder.
Structure of the deal
The loan is issued by GainWest to Finprotect directly.
Igor Kichatiy (CEO) - more than 10 year experience in work with troubled loan assets.
Tatyana Beygul (Head accountant) - more than 20 year experience in working at top management positions in financial institutions. Expert in the international accounting and reporting standards.
|Company name:||"Finprotect" LLC|
|Company reg. Nr.:||43004129|
|Country of residence:||Ukraine|
|Date of incorporation:||16.05.2019|
|Type of business:||64.99 Other financial service activities, except insurance and pension funding n.e.c.|
|Revenue in 2019:||5 929 000 UAH / 193 000 EUR|
|Number of employees:||50|
|Registered address:||01601, m.Kyyiv, Pecherskyy rayon, PECHERSKYY UZVIZ, budynok 5, KABINET 109|
|Contact phone number||
Contact email address:
|Nr||Payment date||Principal payment||Interest payment||Loan balance||Total amount due|
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€ 0 filled € 50,000 left
Fundraising opens To be determined
Fundraising expires To be determined
Loan period3 months
Loan typeBusiness Loans
Investment guarantee fund Yes
Security Personal Guarantee
Affiliated project no
Investment amount (EUR)