16 July 2021
PeerBerry's business partner Senmo VN shows a positive development trend
PeerBerry’s business partner Senmo in Vietnam (Senmo VN) is a joint venture of both Aventus Group and Gofingo Group and started to cooperate with PeerBerry in May last year.
In Vietnam, for the purpose of setting up a short-term lending business and compliance with local laws, Senmo VN is represented by two legal entities:
- Gofingo Vietnam Company Limited, which is the owner of the brand Senmo with its both website and mobile application. The company provides IT, marketing, call center, and other business-related services, and
- Phuc Loc Tho Service Co., Ltd., which is a business partner of Senmo, that acts as a short-term lender for borrowers in Vietnam through the Senmo platform.
Although Asian countries were strongly affected by Covid-19 last year, with more than 100 employees, the overall performance of Senmo in 2020 was profitable. In which, the non-lending entity Gofingo Vietnam Company Limited earned an audited profit of EUR 411 155, and the lending company Phuc Loc Tho Service Co., Ltd ended the year with a loss of EUR 217 691. The total result of the companies that operate under the brand of Senmo in Vietnam is EUR 193 464 of profit.
“The threat of Covid-19 has not gone away. There is a great shortage of vaccines in the country. However, we have a proven strategy for the successful development of our business in this new reality that shows a stable and moderate risk. The volume of demand for loans is constantly growing, as well as the number of clients to whom we are proudly providing access for this service and at the same time, we are keeping our default rate stable. During the first half of this year, through the Senmo platform, we have provided access for loans in the amount of EUR 11.87M. Analyzing the results of the first half of the year, we see an improvement in all performance indicators and Senmo will end this year profitably” – says Maxim Zubkov, CEO of Senmo.
Senmo loans account for only 3% of the total PeerBerry portfolio.
Please find Senmo financial statements on our website:
- Senmo VN Financial Statements 2020 (Gofingo Vietnam Company Limited)
- Senmo VN Financial Statements 2020 (Phuc Loc Tho Service Co., Ltd.)
Visit Senmo VN at https://senmo.vn/.