StikCredit was established in 2013 and commenced operation in 2014. StikCredit was founded after the realization that there exists a significant customer base in Bulgaria which is underserved by the banking sector. The company offers single payment and instalment loans. They are registered as a financial institution according to the BGR00370 certificate of the Bulgarian National Bank. The company obtains client’s identification data which is then used to collect information from external databases about the client’s credit history and employment status. All client information is then processed through special scoring algorithm that gives an accurate estimate about the risk profile of the specific client which is then used to make the final loan decision.
- Typical customers: Male and female citizens aged 25-45 years;
- About 70% loans are issued to returning clients;
- The rejection rate is about 70%;
- The average loan amount is approximately Eur 280;
- It takes up to 10 minutes to review a new loan application;
- Current portfolio Is approximately 1.7m Eur;
- Annual revenue stands at around Eur 1m.