TWINO Analysis

Since launching in 2015, TWINO has solidified its status as a leading global lending platform, overseeing more than €1 billion in loans. The platform supplies debt notes from four originators within The TWINO Group in Poland, Latvia, Vietnam and the Philippines. Additionally, it offers loans for short-term rental properties in Latvia, primarily in the capital, Riga. With more than 60,000 registered investors, TWINO has facilitated an average of €2.5 million in investments monthly over the previous year.

• TWINO is a seasoned lending platform that offers debt notes from TWINO Group's loan originators.
• Investments can be manually selected or automattically invested starting at €10, with a 60-day buyback guarantee on loans and a secondary market to facilitate pre-maturity transactions of securities.
• A current average interest rate of 12% is noted across all loan durations, while additional details regarding loan default rates or net investment performance remain undisclosed. TWINO has facilitated over €1 billion in loans since launch, resulting in approximately €22 million in interest payments to investors.
• SIA TWINO Investments, the firm operating the platform, reported a net profit of €190,000 in 2022, marking a rebound from a loss in the previous year.

TWINO, a platform of The TWINO Group established in 2009, allows investors to select from a varity of loans, starting at a minimum investment of €1. These loans are provided by originators within The TWINO Group itself, including: Netcredit in Poland (offering consumer loans), Moneza in Latvia (supplying consumer, business, and real estate loans), and Vamo (facilitating consumer loans) in both Vietnam and the Philippines. If repayments are delayed by over 60 days, TWINO pledges to buy back the loans, covering both principal and the entire term's accrued interest. The platform further provides an auto-invest tool for automated investing and a secondary market, facilitating early debt note sales for investors. As a licensed investment brokerage firm, TWINO operates under the supervision of the Bank of Latvia.^[1]

TWINO presently offers an average interest rate of 12% across all loan durations—short-term, medium, and long-term—while 16% of the outstanding principal is delayed. From the over €1 billion in facilitated loans, TWINO has returned slightly more than €22 million in interest to investors.^[2] However, there is no available information regarding the default rate of the loans or the net return performance of the investments.

TWINO is steered by a team various experienced professionals, each playing a crucial role in its management and operations. Armands Broks, integral since the platform's beginning, serves not only as the Founder of the TWINO Group but also as Chairman of its Supervisory Board. He is accompanied by Mārtiņš Mellēns of McKinsey as the Deputy Chairperson of the Supervisory Board. Helvijs Henšelis, acting as the CEO of the TWINO platform and chairman of the Management Board, collaborating closely with Māris Čevers, executing duties as the Risk Director, and Linards Anisimovs, another essential board member, to supervise and handle the Anti-Money Laundering (AML) protocols and strategies of the platform.^[3]

TWINO functions through three public legal entities, each publishing BDO Latvia audited financial statements on their website. These entities include the group company SIA FINNO, presenting its annual statement in Latvian; SIA TWINO Finance, also providing an annual statement in Latvian; and AS TWINO Investments, which offers its annual report in English. According to the most recent financial statement from 2022, TWINO Investments recorded a profit of €178,488, demonstrating a notable uptick from a loss of €172,136 in the previous year, 2021.^[4]

TWINO is included on the CNBC list of world's top 200 fintech companies in the category Alternate Lending among 25 of its competitors.^[5]