18 May 2020
Aventus Group company in Moldova maintains profitable activity

PeerBerry business partner, Aventus Group company in Moldova, for its clients and PeerBerry investors is known as two brands Credit7 (MD) for short-term loans and as Credit365 (MD) – for long-term loans. During a couple of years of successful operation, the company has earned a good reputation and a strong position in the market.

We invite you to review an audited Financial Statement 2019 of Credit7 / Credit365 (MD) and to read our interview with Roman Gutu, Aventus Group Country Manager for Moldovan market, about the specifics of the lending business in the Moldovan market and business results of the company.

How does the Aventus Group company differ in the Moldovan market? What distinguishes the brands of Credit7 and Credit365 from competitors in the market? What place does the company occupy in the market?

Moldovan company Aventus Finance is a part of the Aventus Group. The company is one of the first in the Republic of Moldova to start issuing online loans since December 2017.

Short-term loans with the term of 30 days were the first product on the market issued under Credit7 (MD) brand. After establishing all the processes, starting in February 2019, the company began to issue long-term loans under the brand Credit365 (MD).

According to the National Financial Market Commission at the end of 2019, our company is in the top 10 in terms of the number of active customers (from the list of 166 companies) as well as in the top 5 companies that issue online loans. This is a really high achievement taking into account the fact that the company is relatively young and in terms of high competition in the market.

Our goal is to provide the most transparent services for our clients by introducing financial technology, comfort, convenience and speed of receiving financial services.

The company constantly develops and implements all possible channels for issuing and repaying loans. Loyal clients receive loans on favorable terms.

Roman Gutu, Aventus Group Country Manager

For what needs do clients most often take a loan from the company you represent? What is the average loan amount?

Our clients’ segment is constantly expanding. If initially our products were mainly used by non-bank clients, currently the picture has significantly changed. The speed of processing applications and the convenience of getting loans online has expanded our clients’ segment, including those who previously used to take loans only at banks.

The purpose of loans is very different, but mainly for home and other personal needs, like buying some technologies or devices for home.

The average amount of loan is approximately about 250 Eur and depends on the product.

What was the year 2019 for Moldovan company, what achievements can you be proud of?

The year 2019 was very successful for us, as we succeed to gain new clients, new partners, to enforce our team and register profitable financial result. Last year we managed to increase the volume of active clients by more than 3.5 times, and the loan portfolio by 6.5 times. During 2019, the company issued loans for more than 3.7 million Eur. For these results I want to thank our clients, who use our services, as well as my colleagues, who work hard on development of our products and on the quality of the service we provide. I’m also very grateful to PeerBerry investors, who have invested in our loans, thereby enabling us to expand our activities in the Moldovan market.

What were the company’s results in the first quarter of this year, and what further perspective do you see this year, evaluating all the changes in the market? What trends do you predict in the Moldovan market?

In the first quarter of 2020, we maintained a trend of active growth, but after the global crisis that began in mid-March 2020, we revised our prospects and were able to instantly respond to new market realities. In this period, we managed to maintain the provision of our service to our clients and this is especially important. But we revised our lending policy in order to ensure the quality of the loan portfolio.

We also took a number of measures in order to allow clients who face difficulties in connection with temporary limitations or unemployment in the quarantine period to repay their loans without penalties.

New market realities will inevitably lead to a decrease in the average loan amount and the level of approved applications. But even in this difficult period, the online business will grow because of its accessibility – you don’t need to go anywhere, when you can get a service online. Accordingly will grow the need for online loans.

The data that we recorded during the quarantine period on the solvency of customers allowed us to adjust the scoring card of customers and gradually increase the volume of issued loans.

In terms of financial indicators, we managed to maintain a positive trend and profitability of the company.

We are confident that together we will become stronger after this crisis. And, of course, we wish everyone to stay healthy.

Best wishes from Aventus Group team in Moldova: