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Post by pedrolopes on Jun 11, 2015 10:05:00 GMT
Greetings,
Today I found out that Mintos was sold to... Mintos Marketplace. I don't know if this is just a cosmetic change or or if this is really something that we the lenders should be worried about, and I say this because in the new "agreement" investors are forced to approve in order to login to our own accounts they say they only transferred some of the responsibilities from Mintos to Mintos marketplace (only some of the Mintos clauses from user agreement have been novated to the new company: Minos marketplace), so what happens to all of the other clauses that were not novated?
If anyone has any more information about this please share.
Thank you. Best regards.
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Post by martins on Jun 11, 2015 15:14:22 GMT
Mintos was not sold. We just separated platform from loan originator in two separate legal entities, and added Mintos Holdings on top of them. That will allow us to add other loan originators to our platform helping them adopt marketplace model in funding their loans, similar to what we have done with MOGO. Also that adds additional protection for investors as any uninvested money will be maintained not only in a segregated bank account, but also in a separate legal entity from the loan originator.
Only those clauses that were related to platform management had to be novated.
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Post by pedrolopes on Jun 11, 2015 17:14:37 GMT
Thanks, that is reassuring. I did not know this was going to happen, I had not read about the change, so I assumed that Mintos had been sold to an entity with a similar name (Mintos Marketplace).
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