11.8%

Provision coverage

Licensed Pan-Baltic credit provider

Fresh Finance Group is a Pan-Baltic group of licensed credit providing companies specializing in direct consumer financing, white label financing solutions and financial technology development. Fresh Finance group of companies operate under the “Punk Finance” brand.

FFG has offices in Tallinn, Riga and Vilnius with 18 employees.

Synergy with group companies

By combining financing operations with new technology, financial markets infrastructure and debt management function of PlusPlus Capital, it yields a unique synergy within the group of companies.

Market opportunity

Consumer finance markets in the Baltics are dominated by the (Scandinavian) banks. Risk appetite of those banks is relatively low leaving hundreds of thousands of people unfunded who are looking for the most basic financial services.

Focused core product offering

Key product is uncollateralized consumer loan for natural person up to 15 000 EUR with a maximum duration of 7 years.

Refinancing loan

Liability refinancing for clients who are looking to get their finances in order and obtain a clean credit history.

12 to 84 months
From 500-15 000 EUR
Interest rate starting from 18%

Company name: OÜ Fresh Finance Group

Brand name: PUNK Finance

Legal address: Tartu mnt 83, Tallinn 10115

Licensed: Licensed creditors in Estonia, Latvia and Lithuania

Audit: BIG 4 – PwC

Internal auditor: BIG 4 – PwC

Fresh Finance presentation: Preview

Sample loan contract: Estonian, Lithuanian

Fresh Finance Group OÜ consolidated annual report 2020: Preview

Credit provider license number: 4.1-1/45 (Estonia) was issued on March 28, 2016. 241-191 (Lithuania) was issued on October 30, 2017.

Websites: punkfinance.ee, punkfinance.lv, punkfinance.lt

Email: info@punkfinance.ee

OÜ Fresh Finance is incorporated under the laws of Estonia, registry code 12243370, registered office Tartu mnt 83, Tallinn, 10115, Estonia, represented by the management board member Krõõt Kilvet.

UAB Fresh Finance is incorporated under the laws of Lithuania, registry code 304604645, registered office Gynėjų g. 16, Vilnius, 01108, Lithuania, represented by the managing director Saulius Kuliešius.

During our onboarding process, we have been able to verify that the Company has implemented high-standard procedures, including new Loan Management System with automated calculations and actions. Fresh Finance OÜ has a development plan and constantly follows it.

Since the Company was concentrated on internal procedures, the Loan portfolio was decreasing over the last two years. There is no Portfolio diversification policy because Fresh Finance OÜ provides Credit lines, Refinancing and Consumer loans and has its niche on the market. With the new scoring model, the Company aims to have a lower default rate than ever, granting more stable investment opportunities for Monestro investors.

Years 2019 and 2020 were finished with losses, which were covered mainly by retained earnings. Fresh Finance OÜ has a long-term financial support from the shareholders, keeping positive working capital and current ratio over ten for the last three years.

LITHUANIA – 6

Fresh Finance UAB, previously known as PlusPlus Finance UAB was established in 2017 and is a subsidiary of Fresh Finance Group OÜ. Limited operations were started in 2019 and in 2020-2021 new internal processes in terms of loan issuance and monitoring was implemented.

During our onboarding process we have been able to verify that the Company has implemented high-standard processes, including development of the new Loan Management System with automated calculations and actions. Fresh Finance UAB has the development plan and constantly follows it.

There are no Portfolio diversification policy due to fact that Fresh Finance UAB provides Credit line, Refinancing and Consumer loans and has it’s niche on the market. Implemented scoring model and internal controls aim to have low default rate, providing more stable investment opportunities for Monestro investors. Portfolio amount has grown for 23% in 2020, comparing to the end of 2019 and 4% more in Q1 2021 comparing to the end of 2020.

Years 2019 and 2020 were finished with losses due to limited operations, which resulted in negative Equity. Shareholders did not increase the share capital, but the Company has a significant Long-term financial support from the shareholders, which makes positive Working Capital and Current ratio over than 1 for the last 3 years. According to operating report for the Q1 2021, extrapolated revenue is expected to increase by 15% in 2021.

Wiserfunding Risk Assessment uses available information at the date of publication from public sources or information provided to them based on our previous assessment. Some additional resources not checked by Monestro during onboarding are now used for the report.

During LOs’ onboarding and quarterly monitoring, Monestro performs also assessment of internal procedures and portfolio, which is not publicly available.

Due to these differences, Risk Assessment results (Ratings) of Wiserfunding and Monestro may differ.

Wiserfunding report created on the 02.08.23: Log in and download.

Wiserfunding Risk Assessment uses available information at the date of publication from public sources or information provided to them based on our previous assessment. Some additional resources not checked by Monestro during onboarding are now used for the report.

During LOs’ onboarding and quarterly monitoring, Monestro performs also assessment of internal procedures and portfolio, which is not publicly available.

Due to these differences, Risk Assessment results (Ratings) of Wiserfunding and Monestro may differ.

Wiserfunding report created on the 02.08.23: Log in and download.