IbanCar World

45

Loans Listed in Grupeer

10

Loans Originated

12.71%

Average NAR

buy back is enabled

BuyBack Guarantee

Loan type

Country

Founded
2014
Joined Grupeer
2019
Registration number
B93145001
Employees
14
Address
Avenida Condes San Isidro 13, Tercero C, 29640 Fuengirola, Málaga, Spain
Currency
EUR
Term of Loans
23-36 mo.
Defaulted loans
0
Skin in the game i
5%
Pledge of assets
Yes
Loans funded
€130658.68

Ibancar is a proven FinTech company involved in online asset-based lending serving the unbanked and underbanked. The company has been operating on the market since 2010. Ibancar have established legal framework to allow borrowing against cars and considers this a key part of their intellectual property. This is key point which made them distinct from competitors. Other competitors are mainly in the car business and not in the loan business. Competitors' business model is not scalable, and they seek to profit from the car. Ibancar is the only 100% online remote service offering genuine loans that amortize over time and allow borrowers to get the ownership of the car back. This makes Ibancar the only loan originator in Spain, who lends against cars. 
- Loan portfolio 1 600 000.00 EUR; 
- 250% over-collateralized portfolio; 
- Average loan 3 300.00 EUR; 
- Proprietary and scalable risk management platform with an established proof of concept (e.g. innovative risk scoring, behavioral NPL management). 
- Vehicle Collateral. The loan is collateralized with the cash flows from individual car loans by pooling together car loans with the same maturity in one lump sum loan. The average LTV for this loan tranche is 52%.