Kviku Finance

Kviku Finance, based in Cyprus, is part of the Kviku Group, which operates loan originators in the Philippines, Kazakhstan, and Spain. The platform allows investors to invest in prefunded, unsecured consumer loans issued by these originators. Kviku Finance is not licensed but is regulated by the legislative acts of the Republic of Cyprus.^[1] To invest on the Kviku platform, investors must have a valid EU or equivalent AML/CFT-compliant bank account and meet legal eligibility requirements as individuals or legal entities. Since its launch in February 2020, the platform has attracted over €52.28 million from investors, with a monthly volume over the past 12 months averaging €1.85 million.^[2]

• Kviku Finance offers consumer debt investments via its group-affiliated loan originators in the Philippines, Kazakhstan, and Spain.
• Investments start from a minimum of €1, with an initial deposit requirement of at least €50.
• Kviku Finance offers an annual interest rate of 12%, with loan investment terms ranging from 2 to 12 months.
• The platform has not provided any statistics on delayed repayments or defaults.

Kviku Finance’s loan originators provide three types of consumer loans across the Philippines, Kazakhstan, and Spain. Investors cannot manually select individual loans. Instead, investments are processed through an auto-invest feature with filters for repayment period, interest rate, and geography. Kviku offers three main consumer debt investment products:

• Buy Now, Pay Later (BNPL) Loan: Debt investment size up to €2,000, with terms from 2 to 12 months.
• Installment Loan: Debt instrument size up to €3,000, with a 6-month term.
• Virtual Credit Card: Debt investment size up to €1,000, with terms up to 1 year.^[3]

The minimum investment is €1, but there is a deposit requirement of a minimum of €50.  Loans on the platform are unsecured but come with a buyback guarantee,^{[4] [5]} which means Kviku Finance will cover the principal and accrued interest if a borrower is over 30 days late in repaying.^[6] However, the platform does not offer a secondary market for early exit from loan investments. Kviku Finance does not withhold taxes on distributed interest, tax filings and payments are the responsibility of investors.^[7]

Kviku Finance markets consumer debt investments with an effective annual interest rate of 12%. However, the platform does not disclose information about the delayed repayment rate or default rate of its loan portfolio.

Investing with Kviku Finance is currently without direct fees for investors.^[8] Although the platform collects fees from borrowers, specific details remain undisclosed. Kviku’s revenue is generated from these borrower fees or the spread at the loan originator level.

Kviku Group, founded in Russia in 2013 by Nikita Lomakin and Veniamin Lipskiy, initially expanded into Kazakhstan in 2018, followed by Poland and Spain in 2019, and later launched in the Philippines and India in 2020. However, the company now operates only in three markets: the Philippines, Kazakhstan, and Spain. Oleg Babiy, the current CFO, brings over five years of experience as a sales manager in various Russian companies before joining Kviku. Alongside him is Kseniia Matisova, the Chief Legal Officer. Kseniia and Oleg previously worked together at Robocash Group, in Russia before both joining Kviku.

Kviku Holding Ltd, registered in Cyprus as a Limited Liability Company since 2018, owns the platform Kviku Finance, which officially launched in 2020.^[9] However, its loans have been available on investment marketplaces such as Iovo Group, Bondster, and Mintos since 2018.^[10] Kviku Holding is part of the Kviku Group, an online lending company operating in Spain, Kazakhstan, and the Philippines. Information regarding the company’s shareholders has not been disclosed. Among the directors and secretaries of Kviku Holding Ltd are Katia Andreaou, an accountant at Midland Consult (Cyprus) Ltd., and Olga Dimosthenous, who was the director of Midland New Zealand Ltd. from 2008 to 2010. However, there is no recent information available regarding these individuals.^[11]

The platform has not released any recent financial statements. However, Kviku Holding Ltd has shared its financial performance before the platform’s launch. From 2015 to 2019, the company achieved a remarkable 266% annual growth rate in net income. In 2019, its revenue was reported to be $31.7 million.^[12]

Kviku's war-affected loans on Mintos are facing quite some headwinds as Mintos is pursuing legal measures against Kviku with the latest update on Mintos from 30th June 2023 being “Kviku and its questionable business practices”, in which Mintos explains the challenges with recovering the funds for its investors.^[13]

In February 2023 an article appeared on Medium stating that hundreds in Spain report harassment and threats from a microloan company of the Kviku Group that lends them money without permission.^[14]

1. Kviku Finance: “FAQ - How is Kviku Finance regulated?”
2. P2PMarketData: “Kviku Finance Statistics”
3. Kviku Finance: “Homepage - Geographic coverage”
4. Kviku Finance: “FAQ - What are the investment criteria for Auto-Invest Portfolio?”
5. Kviku Finance: “FAQ - Are there any limitations on transfer amount?”
6. Kviku Finance: “FAQ - What does Kviku Finance BuyBack mean?”
7. Kviku Finance: “FAQ - Do I have to pay taxes on the returns I receive?”
8. Kviku Finance: “FAQ - What are the fees for investors?”
9. Cyprus - Department of Registrar of Companies and Intellectual Property: “Kviku Holding Ltd”
10. Mintos: “Lending Companies - Kviku”
11. Organized Crime and Corruption Reporting Project (OCCRP): “Russian Laundering Machine”
12. Kviku Group: “Kviku Next Generation Online Banking - Investor Presentation”
13. Mintos: “Update on Kviku - Russia-Ukraine war impact updates”
14. Medium: “The Russian Website that Gifts You Money: Kviku’s Trap”

Kviku Finance, based in Cyprus, is part of the Kviku Group, which operates loan originators in the Philippines, Kazakhstan, and Spain. The platform allows investors to invest in prefunded, unsecured consumer loans issued by these originators. Kviku Finance is not licensed but is regulated by the legislative acts of the Republic of Cyprus.^[1] To invest on the Kviku platform, investors must have a valid EU or equivalent AML/CFT-compliant bank account and meet legal eligibility requirements as individuals or legal entities. Since its launch in February 2020, the platform has attracted over €52.28 million from investors, with a monthly volume over the past 12 months averaging €1.85 million.^[2]

• Kviku Finance offers consumer debt investments via its group-affiliated loan originators in the Philippines, Kazakhstan, and Spain.
• Investments start from a minimum of €1, with an initial deposit requirement of at least €50.
• Kviku Finance offers an annual interest rate of 12%, with loan investment terms ranging from 2 to 12 months.
• The platform has not provided any statistics on delayed repayments or defaults.

Kviku Finance’s loan originators provide three types of consumer loans across the Philippines, Kazakhstan, and Spain. Investors cannot manually select individual loans. Instead, investments are processed through an auto-invest feature with filters for repayment period, interest rate, and geography. Kviku offers three main consumer debt investment products:

• Buy Now, Pay Later (BNPL) Loan: Debt investment size up to €2,000, with terms from 2 to 12 months.
• Installment Loan: Debt instrument size up to €3,000, with a 6-month term.
• Virtual Credit Card: Debt investment size up to €1,000, with terms up to 1 year.^[3]

The minimum investment is €1, but there is a deposit requirement of a minimum of €50.  Loans on the platform are unsecured but come with a buyback guarantee,^{[4] [5]} which means Kviku Finance will cover the principal and accrued interest if a borrower is over 30 days late in repaying.^[6] However, the platform does not offer a secondary market for early exit from loan investments. Kviku Finance does not withhold taxes on distributed interest, tax filings and payments are the responsibility of investors.^[7]

Kviku Finance markets consumer debt investments with an effective annual interest rate of 12%. However, the platform does not disclose information about the delayed repayment rate or default rate of its loan portfolio.

Investing with Kviku Finance is currently without direct fees for investors.^[8] Although the platform collects fees from borrowers, specific details remain undisclosed. Kviku’s revenue is generated from these borrower fees or the spread at the loan originator level.

Kviku Group, founded in Russia in 2013 by Nikita Lomakin and Veniamin Lipskiy, initially expanded into Kazakhstan in 2018, followed by Poland and Spain in 2019, and later launched in the Philippines and India in 2020. However, the company now operates only in three markets: the Philippines, Kazakhstan, and Spain. Oleg Babiy, the current CFO, brings over five years of experience as a sales manager in various Russian companies before joining Kviku. Alongside him is Kseniia Matisova, the Chief Legal Officer. Kseniia and Oleg previously worked together at Robocash Group, in Russia before both joining Kviku.

Kviku Holding Ltd, registered in Cyprus as a Limited Liability Company since 2018, owns the platform Kviku Finance, which officially launched in 2020.^[9] However, its loans have been available on investment marketplaces such as Iovo Group, Bondster, and Mintos since 2018.^[10] Kviku Holding is part of the Kviku Group, an online lending company operating in Spain, Kazakhstan, and the Philippines. Information regarding the company’s shareholders has not been disclosed. Among the directors and secretaries of Kviku Holding Ltd are Katia Andreaou, an accountant at Midland Consult (Cyprus) Ltd., and Olga Dimosthenous, who was the director of Midland New Zealand Ltd. from 2008 to 2010. However, there is no recent information available regarding these individuals.^[11]

The platform has not released any recent financial statements. However, Kviku Holding Ltd has shared its financial performance before the platform’s launch. From 2015 to 2019, the company achieved a remarkable 266% annual growth rate in net income. In 2019, its revenue was reported to be $31.7 million.^[12]

Kviku's war-affected loans on Mintos are facing quite some headwinds as Mintos is pursuing legal measures against Kviku with the latest update on Mintos from 30th June 2023 being “Kviku and its questionable business practices”, in which Mintos explains the challenges with recovering the funds for its investors.^[13]

In February 2023 an article appeared on Medium stating that hundreds in Spain report harassment and threats from a microloan company of the Kviku Group that lends them money without permission.^[14]

1. Kviku Finance: “FAQ - How is Kviku Finance regulated?”
2. P2PMarketData: “Kviku Finance Statistics”
3. Kviku Finance: “Homepage - Geographic coverage”
4. Kviku Finance: “FAQ - What are the investment criteria for Auto-Invest Portfolio?”
5. Kviku Finance: “FAQ - Are there any limitations on transfer amount?”
6. Kviku Finance: “FAQ - What does Kviku Finance BuyBack mean?”
7. Kviku Finance: “FAQ - Do I have to pay taxes on the returns I receive?”
8. Kviku Finance: “FAQ - What are the fees for investors?”
9. Cyprus - Department of Registrar of Companies and Intellectual Property: “Kviku Holding Ltd”
10. Mintos: “Lending Companies - Kviku”
11. Organized Crime and Corruption Reporting Project (OCCRP): “Russian Laundering Machine”
12. Kviku Group: “Kviku Next Generation Online Banking - Investor Presentation”
13. Mintos: “Update on Kviku - Russia-Ukraine war impact updates”
14. Medium: “The Russian Website that Gifts You Money: Kviku’s Trap”

Kviku Finance, based in Cyprus, is part of the Kviku Group, which operates loan originators in the Philippines, Kazakhstan, and Spain. The platform allows investors to invest in prefunded, unsecured consumer loans issued by these originators. Kviku Finance is not licensed but is regulated by the legislative acts of the Republic of Cyprus.^[1] To invest on the Kviku platform, investors must have a valid EU or equivalent AML/CFT-compliant bank account and meet legal eligibility requirements as individuals or legal entities. Since its launch in February 2020, the platform has attracted over €52.28 million from investors, with a monthly volume over the past 12 months averaging €1.85 million.^[2]

• Kviku Finance offers consumer debt investments via its group-affiliated loan originators in the Philippines, Kazakhstan, and Spain.
• Investments start from a minimum of €1, with an initial deposit requirement of at least €50.
• Kviku Finance offers an annual interest rate of 12%, with loan investment terms ranging from 2 to 12 months.
• The platform has not provided any statistics on delayed repayments or defaults.

Kviku Finance’s loan originators provide three types of consumer loans across the Philippines, Kazakhstan, and Spain. Investors cannot manually select individual loans. Instead, investments are processed through an auto-invest feature with filters for repayment period, interest rate, and geography. Kviku offers three main consumer debt investment products:

• Buy Now, Pay Later (BNPL) Loan: Debt investment size up to €2,000, with terms from 2 to 12 months.
• Installment Loan: Debt instrument size up to €3,000, with a 6-month term.
• Virtual Credit Card: Debt investment size up to €1,000, with terms up to 1 year.^[3]

The minimum investment is €1, but there is a deposit requirement of a minimum of €50.  Loans on the platform are unsecured but come with a buyback guarantee,^{[4] [5]} which means Kviku Finance will cover the principal and accrued interest if a borrower is over 30 days late in repaying.^[6] However, the platform does not offer a secondary market for early exit from loan investments. Kviku Finance does not withhold taxes on distributed interest, tax filings and payments are the responsibility of investors.^[7]

Kviku Finance markets consumer debt investments with an effective annual interest rate of 12%. However, the platform does not disclose information about the delayed repayment rate or default rate of its loan portfolio.

Investing with Kviku Finance is currently without direct fees for investors.^[8] Although the platform collects fees from borrowers, specific details remain undisclosed. Kviku’s revenue is generated from these borrower fees or the spread at the loan originator level.

Kviku Group, founded in Russia in 2013 by Nikita Lomakin and Veniamin Lipskiy, initially expanded into Kazakhstan in 2018, followed by Poland and Spain in 2019, and later launched in the Philippines and India in 2020. However, the company now operates only in three markets: the Philippines, Kazakhstan, and Spain. Oleg Babiy, the current CFO, brings over five years of experience as a sales manager in various Russian companies before joining Kviku. Alongside him is Kseniia Matisova, the Chief Legal Officer. Kseniia and Oleg previously worked together at Robocash Group, in Russia before both joining Kviku.

Kviku Holding Ltd, registered in Cyprus as a Limited Liability Company since 2018, owns the platform Kviku Finance, which officially launched in 2020.^[9] However, its loans have been available on investment marketplaces such as Iovo Group, Bondster, and Mintos since 2018.^[10] Kviku Holding is part of the Kviku Group, an online lending company operating in Spain, Kazakhstan, and the Philippines. Information regarding the company’s shareholders has not been disclosed. Among the directors and secretaries of Kviku Holding Ltd are Katia Andreaou, an accountant at Midland Consult (Cyprus) Ltd., and Olga Dimosthenous, who was the director of Midland New Zealand Ltd. from 2008 to 2010. However, there is no recent information available regarding these individuals.^[11]

The platform has not released any recent financial statements. However, Kviku Holding Ltd has shared its financial performance before the platform’s launch. From 2015 to 2019, the company achieved a remarkable 266% annual growth rate in net income. In 2019, its revenue was reported to be $31.7 million.^[12]

Kviku's war-affected loans on Mintos are facing quite some headwinds as Mintos is pursuing legal measures against Kviku with the latest update on Mintos from 30th June 2023 being “Kviku and its questionable business practices”, in which Mintos explains the challenges with recovering the funds for its investors.^[13]

In February 2023 an article appeared on Medium stating that hundreds in Spain report harassment and threats from a microloan company of the Kviku Group that lends them money without permission.^[14]

1. Kviku Finance: “FAQ - How is Kviku Finance regulated?”
2. P2PMarketData: “Kviku Finance Statistics”
3. Kviku Finance: “Homepage - Geographic coverage”
4. Kviku Finance: “FAQ - What are the investment criteria for Auto-Invest Portfolio?”
5. Kviku Finance: “FAQ - Are there any limitations on transfer amount?”
6. Kviku Finance: “FAQ - What does Kviku Finance BuyBack mean?”
7. Kviku Finance: “FAQ - Do I have to pay taxes on the returns I receive?”
8. Kviku Finance: “FAQ - What are the fees for investors?”
9. Cyprus - Department of Registrar of Companies and Intellectual Property: “Kviku Holding Ltd”
10. Mintos: “Lending Companies - Kviku”
11. Organized Crime and Corruption Reporting Project (OCCRP): “Russian Laundering Machine”
12. Kviku Group: “Kviku Next Generation Online Banking - Investor Presentation”
13. Mintos: “Update on Kviku - Russia-Ukraine war impact updates”
14. Medium: “The Russian Website that Gifts You Money: Kviku’s Trap”

Kviku Finance, based in Cyprus, is part of the Kviku Group, which operates loan originators in the Philippines, Kazakhstan, and Spain. The platform allows investors to invest in prefunded, unsecured consumer loans issued by these originators. Kviku Finance is not licensed but is regulated by the legislative acts of the Republic of Cyprus.^[1] To invest on the Kviku platform, investors must have a valid EU or equivalent AML/CFT-compliant bank account and meet legal eligibility requirements as individuals or legal entities. Since its launch in February 2020, the platform has attracted over €52.28 million from investors, with a monthly volume over the past 12 months averaging €1.85 million.^[2]

• Kviku Finance offers consumer debt investments via its group-affiliated loan originators in the Philippines, Kazakhstan, and Spain.
• Investments start from a minimum of €1, with an initial deposit requirement of at least €50.
• Kviku Finance offers an annual interest rate of 12%, with loan investment terms ranging from 2 to 12 months.
• The platform has not provided any statistics on delayed repayments or defaults.

Kviku Finance’s loan originators provide three types of consumer loans across the Philippines, Kazakhstan, and Spain. Investors cannot manually select individual loans. Instead, investments are processed through an auto-invest feature with filters for repayment period, interest rate, and geography. Kviku offers three main consumer debt investment products:

• Buy Now, Pay Later (BNPL) Loan: Debt investment size up to €2,000, with terms from 2 to 12 months.
• Installment Loan: Debt instrument size up to €3,000, with a 6-month term.
• Virtual Credit Card: Debt investment size up to €1,000, with terms up to 1 year.^[3]

The minimum investment is €1, but there is a deposit requirement of a minimum of €50.  Loans on the platform are unsecured but come with a buyback guarantee,^{[4] [5]} which means Kviku Finance will cover the principal and accrued interest if a borrower is over 30 days late in repaying.^[6] However, the platform does not offer a secondary market for early exit from loan investments. Kviku Finance does not withhold taxes on distributed interest, tax filings and payments are the responsibility of investors.^[7]

Kviku Finance markets consumer debt investments with an effective annual interest rate of 12%. However, the platform does not disclose information about the delayed repayment rate or default rate of its loan portfolio.

Investing with Kviku Finance is currently without direct fees for investors.^[8] Although the platform collects fees from borrowers, specific details remain undisclosed. Kviku’s revenue is generated from these borrower fees or the spread at the loan originator level.

Kviku Group, founded in Russia in 2013 by Nikita Lomakin and Veniamin Lipskiy, initially expanded into Kazakhstan in 2018, followed by Poland and Spain in 2019, and later launched in the Philippines and India in 2020. However, the company now operates only in three markets: the Philippines, Kazakhstan, and Spain. Oleg Babiy, the current CFO, brings over five years of experience as a sales manager in various Russian companies before joining Kviku. Alongside him is Kseniia Matisova, the Chief Legal Officer. Kseniia and Oleg previously worked together at Robocash Group, in Russia before both joining Kviku.

Kviku Holding Ltd, registered in Cyprus as a Limited Liability Company since 2018, owns the platform Kviku Finance, which officially launched in 2020.^[9] However, its loans have been available on investment marketplaces such as Iovo Group, Bondster, and Mintos since 2018.^[10] Kviku Holding is part of the Kviku Group, an online lending company operating in Spain, Kazakhstan, and the Philippines. Information regarding the company’s shareholders has not been disclosed. Among the directors and secretaries of Kviku Holding Ltd are Katia Andreaou, an accountant at Midland Consult (Cyprus) Ltd., and Olga Dimosthenous, who was the director of Midland New Zealand Ltd. from 2008 to 2010. However, there is no recent information available regarding these individuals.^[11]

The platform has not released any recent financial statements. However, Kviku Holding Ltd has shared its financial performance before the platform’s launch. From 2015 to 2019, the company achieved a remarkable 266% annual growth rate in net income. In 2019, its revenue was reported to be $31.7 million.^[12]

Kviku's war-affected loans on Mintos are facing quite some headwinds as Mintos is pursuing legal measures against Kviku with the latest update on Mintos from 30th June 2023 being “Kviku and its questionable business practices”, in which Mintos explains the challenges with recovering the funds for its investors.^[13]

In February 2023 an article appeared on Medium stating that hundreds in Spain report harassment and threats from a microloan company of the Kviku Group that lends them money without permission.^[14]

1. Kviku Finance: “FAQ - How is Kviku Finance regulated?”
2. P2PMarketData: “Kviku Finance Statistics”
3. Kviku Finance: “Homepage - Geographic coverage”
4. Kviku Finance: “FAQ - What are the investment criteria for Auto-Invest Portfolio?”
5. Kviku Finance: “FAQ - Are there any limitations on transfer amount?”
6. Kviku Finance: “FAQ - What does Kviku Finance BuyBack mean?”
7. Kviku Finance: “FAQ - Do I have to pay taxes on the returns I receive?”
8. Kviku Finance: “FAQ - What are the fees for investors?”
9. Cyprus - Department of Registrar of Companies and Intellectual Property: “Kviku Holding Ltd”
10. Mintos: “Lending Companies - Kviku”
11. Organized Crime and Corruption Reporting Project (OCCRP): “Russian Laundering Machine”
12. Kviku Group: “Kviku Next Generation Online Banking - Investor Presentation”
13. Mintos: “Update on Kviku - Russia-Ukraine war impact updates”
14. Medium: “The Russian Website that Gifts You Money: Kviku’s Trap”

Kviku Finance, based in Cyprus, is part of the Kviku Group, which operates loan originators in the Philippines, Kazakhstan, and Spain. The platform allows investors to invest in prefunded, unsecured consumer loans issued by these originators. Kviku Finance is not licensed but is regulated by the legislative acts of the Republic of Cyprus.^[1] To invest on the Kviku platform, investors must have a valid EU or equivalent AML/CFT-compliant bank account and meet legal eligibility requirements as individuals or legal entities. Since its launch in February 2020, the platform has attracted over €52.28 million from investors, with a monthly volume over the past 12 months averaging €1.85 million.^[2]

• Kviku Finance offers consumer debt investments via its group-affiliated loan originators in the Philippines, Kazakhstan, and Spain.
• Investments start from a minimum of €1, with an initial deposit requirement of at least €50.
• Kviku Finance offers an annual interest rate of 12%, with loan investment terms ranging from 2 to 12 months.
• The platform has not provided any statistics on delayed repayments or defaults.

Kviku Finance’s loan originators provide three types of consumer loans across the Philippines, Kazakhstan, and Spain. Investors cannot manually select individual loans. Instead, investments are processed through an auto-invest feature with filters for repayment period, interest rate, and geography. Kviku offers three main consumer debt investment products:

• Buy Now, Pay Later (BNPL) Loan: Debt investment size up to €2,000, with terms from 2 to 12 months.
• Installment Loan: Debt instrument size up to €3,000, with a 6-month term.
• Virtual Credit Card: Debt investment size up to €1,000, with terms up to 1 year.^[3]

The minimum investment is €1, but there is a deposit requirement of a minimum of €50.  Loans on the platform are unsecured but come with a buyback guarantee,^{[4] [5]} which means Kviku Finance will cover the principal and accrued interest if a borrower is over 30 days late in repaying.^[6] However, the platform does not offer a secondary market for early exit from loan investments. Kviku Finance does not withhold taxes on distributed interest, tax filings and payments are the responsibility of investors.^[7]

Kviku Finance markets consumer debt investments with an effective annual interest rate of 12%. However, the platform does not disclose information about the delayed repayment rate or default rate of its loan portfolio.

Investing with Kviku Finance is currently without direct fees for investors.^[8] Although the platform collects fees from borrowers, specific details remain undisclosed. Kviku’s revenue is generated from these borrower fees or the spread at the loan originator level.

Kviku Group, founded in Russia in 2013 by Nikita Lomakin and Veniamin Lipskiy, initially expanded into Kazakhstan in 2018, followed by Poland and Spain in 2019, and later launched in the Philippines and India in 2020. However, the company now operates only in three markets: the Philippines, Kazakhstan, and Spain. Oleg Babiy, the current CFO, brings over five years of experience as a sales manager in various Russian companies before joining Kviku. Alongside him is Kseniia Matisova, the Chief Legal Officer. Kseniia and Oleg previously worked together at Robocash Group, in Russia before both joining Kviku.

Kviku Holding Ltd, registered in Cyprus as a Limited Liability Company since 2018, owns the platform Kviku Finance, which officially launched in 2020.^[9] However, its loans have been available on investment marketplaces such as Iovo Group, Bondster, and Mintos since 2018.^[10] Kviku Holding is part of the Kviku Group, an online lending company operating in Spain, Kazakhstan, and the Philippines. Information regarding the company’s shareholders has not been disclosed. Among the directors and secretaries of Kviku Holding Ltd are Katia Andreaou, an accountant at Midland Consult (Cyprus) Ltd., and Olga Dimosthenous, who was the director of Midland New Zealand Ltd. from 2008 to 2010. However, there is no recent information available regarding these individuals.^[11]

The platform has not released any recent financial statements. However, Kviku Holding Ltd has shared its financial performance before the platform’s launch. From 2015 to 2019, the company achieved a remarkable 266% annual growth rate in net income. In 2019, its revenue was reported to be $31.7 million.^[12]

Kviku's war-affected loans on Mintos are facing quite some headwinds as Mintos is pursuing legal measures against Kviku with the latest update on Mintos from 30th June 2023 being “Kviku and its questionable business practices”, in which Mintos explains the challenges with recovering the funds for its investors.^[13]

In February 2023 an article appeared on Medium stating that hundreds in Spain report harassment and threats from a microloan company of the Kviku Group that lends them money without permission.^[14]

1. Kviku Finance: “FAQ - How is Kviku Finance regulated?”
2. P2PMarketData: “Kviku Finance Statistics”
3. Kviku Finance: “Homepage - Geographic coverage”
4. Kviku Finance: “FAQ - What are the investment criteria for Auto-Invest Portfolio?”
5. Kviku Finance: “FAQ - Are there any limitations on transfer amount?”
6. Kviku Finance: “FAQ - What does Kviku Finance BuyBack mean?”
7. Kviku Finance: “FAQ - Do I have to pay taxes on the returns I receive?”
8. Kviku Finance: “FAQ - What are the fees for investors?”
9. Cyprus - Department of Registrar of Companies and Intellectual Property: “Kviku Holding Ltd”
10. Mintos: “Lending Companies - Kviku”
11. Organized Crime and Corruption Reporting Project (OCCRP): “Russian Laundering Machine”
12. Kviku Group: “Kviku Next Generation Online Banking - Investor Presentation”
13. Mintos: “Update on Kviku - Russia-Ukraine war impact updates”
14. Medium: “The Russian Website that Gifts You Money: Kviku’s Trap”