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That’s fate giving you a second chance to reconsider. Lol :)
No advice intended. Usual caveats apply. DYOR etc etc
The customer data alone is probably worth many multiples of the current mcap. And that before we’ve even got the mobile app live. This is only going one way
Have to agree with that. 400,000 customers, a huge proportion of whom use Zaim 2 or 3 times a year. Very appealing
Ah that explains that then. So someone got a bargain at 4.25p.
Wasarunner, the FD paid 4.4p - so your buy today was cheaper.
marcus, have you left the telegram group? Your input there was much appreciated by many. Sad to lose you if you have gone.
Giles, thank you. Terry
Ok, happy to be corrected if I’m wrong. But I read it differently from the recent RNS: “As previously announced, the Company's discussion with the Warehouse Loan/Short Term Credit Facility counterparty are almost concluded and an update will be provided during Q1. To simplify the in-person due diligence requirements, this process now includes direct asset investments by the asset manager.”
Bots, the RCF has been modified as a workaround due to the travel restrictions. It’s going to be concluded during this quarter.
Early Bird, Have you got a link to the broker note, can’t seem to find it
ZAIM - check it out ricardo
That default rate is not high. Also read the below from recent broker note, lots of the defaulted loans are actually paid back.
Aside from the Algorithm, Zaim also screen against several databases, including CBR blacklists, criminal databases (both national and international), and sanctions lists. An important consideration to make is that due to Zaim’s CBR regulated status, any borrower who defaults on a Zaim loan is put on the aforementioned CBR blacklist. Not only are individuals on this list unable to access financial services from any regulated entity, but also forbidden from leaving the country or working in the public sector. Since the defaulting loan needs repaid in order for an individual to be removed from the blacklist, Zaim consistently see customers repaying debts which had been written off, and can therefore count these repayments as extraordinary revenue items for accounting purposes.
In 2018, Zaim reported an 8% default rate for existing customers, and a 38% default rate for new customers. Given that the company has stated a 50:50 split between these two groups, an average total default rate of 23% can be inferred. Whilst this might seem high, the company also reported that 89% of loans issued in 2018 were repaid. Note that this implies 11% outstanding loans in default, and therefore that over half of loans written off as bad debt were in fact repaid within the calendar year. This incentive to repay bad debts, combined with the risk mitigation provided by the Credit Scoring Algorithm, allow Zaim to operate without any use of repossession services or repeat calling to debtors, either of which might be considered uncompliant or a punishable abuse of power upon examination by the CBR.
I agree with bots, if this goes sub 2p I would really like to buy another million
At least. And that’s being conservative - they’re adding new customers all the time and growing rapidly., and reducing costs massively with huge online uptake. The next trading update should be interesting.
Zaim has 300,000 customers who borrow an average of £95 for 20-25 days and they’ll use the service two or three times per year, paying 1% in interest per day.
They have 300,000 customers, if they only made £20 profit a year on each one that’s £6m and on a forward p/e of 20 which would not be unreasonable for a fintech co, that puts it at a £120m market cap... 6 bag from here. Numbers are going up double digit % each month. Watch the interview on proactive. The ceo is Italian not Russian btw
Another fintech with masses of potential: ZAIM Check it out.
Heard that too. A new tr1 holder to add to the mix.
Thanks flowergarden.
Flowergarden, how did you come to those numbers? what are the current user numbers?