NordCard joins the ranks of loan providers on Bondster

NordCard joins the ranks of loan providers on Bondster

New loans
NordCard joins the ranks of loan providers on Bondster

The Latvian company NordCard has become a new provider of investment loans on the platform Bondster. Interest rates on the first batch of loans will be around 10-11%.

The Latvian FinTech company NordCard (Hedge Capital Company LLC) was established in 2016 and launched a unique product in the form of a credit card in the non-banking segment on the local market. This modern solution was very well received in the segment; NordCard has gained thousands of regular clients, processed over 130,000 loan applications since its inception, and its credit portfolio amounts to CZK 65 million (EUR 2.5 million). NordCard is also constantly innovating and has undergone four development cycles since its inception during which it has tailored its functionality to its customers.

NordCard focuses mainly on smaller loans, and the most common loan amount is around EUR 100. The average credit limit is EUR 750. NordCard issues a MasterCard, which is used by over 100,000 people. The card can be used for online purchases, payments and withdrawals from ATMs worldwide, with purchases from more than 32 million retailers and withdrawals from more than 600,000 ATMs.

Among card users, there are 56% of men and 44% of women, mostly with higher education. 70% of loans are short-term and 30% is a constant credit line. The default rate is 5%. The 3 most popular categories for which people take up a loan are consumer goods, home repairs and health. The company's net turnover in 2020 was EUR 572,146, with a gross profit of EUR 109,270.

Also, in 2017, NordCard allowed its clients to draw a line of credit on their bank account, thanks to which they can draw extra money without having to physically have a card at all. Clients can then transfer the money from the credit to their private bank account and use it to make payments or settle the balance on their personal credit card.

NordCard has recently also launched a full-fledged online banking for its clients, in which customers can set their payment cards and credit limits, and in which they can also communicate with NordCard more quickly and easily.

The company's CEO is Daniels Jukna, who studied economics at the University of Latvia and financial engineering at the Technical University in Riga. As part of his further education, he obtained the CAMS certificate (Certified Anti-Money Laundering Specialist) and has long worked as an economics lecturer.

You can find more information about the company at www.nordcard.eu. You also find additional information in the Loan providers section.


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