Today is a special day for our daughter company hive5: a very attractive borrower Linqo PL from Poland, has joined the platform. It is a technology company which provides GPS Fleet tracking devices for transport businesses. Besides buyback, the loans are secured with collateral – devices, which are pledged with a higher value than the loan amount.
Short information about the Loan Originator:
Ruptela is a global telematics company specialising in developing GPS tracking devices; it was established in 2007. The company operates on five continents, with a team of over more than 200 individuals who develop high-quality devices in-house. The company serves clients in over 120 countries, including Europe, Asia, the Middle East, Africa, North America, and Latin America. The Ruptela group owns two subsidiaries in Poland – Linqo PL and Ruptela PL.
Another trustworthy fact is that Linqo PL is undergoing merger proceedings as it will be merged with Ruptela PL. Ruptela PL has been operating in Poland since 2017. In 2018 Ruptela PL noticed that Linqo PL’s competitors were working in a different segment (Ruptela PL: large heavy transport companies, Linqo PL: light vehicle, e-commerce, last mile, car sharing service) and decided to buy them, not compete and fill up with a new attractive customer segment. Since then, the two companies have performed in the same market and have had the same shareholder; therefore, for optimisation purposes, they are merged to have one administered legal entity instead of two now. From now they will work under the Ruptela PL name.
Additionally, the merged team will take out the best of each company: international knowledge, many years of business experience and high-technology solutions to keep growing the company. The company is an expert in both – technologies and management. Besides, by giving a loan to use GPS devices, they can immediately terminate the fleet management services if there is at least a day’s delay in paying for the loan. It is a perfect debt-collection tool.*
As we have highlighted many times, risk management is one of the most critical tasks for our group of companies. Therefore, hive5 decided to start with only those clients who have already paid back 2/3 of the loan.
“Our team consists of professionals with extensive experience in many European markets. For years, we have been supporting companies in fleet management and working on creating solutions that meet the various needs of our clients. We enjoy changing old solutions to more flexible and modern ones. Partnering with hive5 is a major step forward in making more efficient use of our working capital.” Says Szymon Dudek, the CEO of Linqo Poland.
The main facts:
- Clients of Linqo: 83% of customers are heavy load transport, around 11% are LCV transport, and the rest are last mile and construction customers, well-recognised multinational businesses with solid balance sheets only.
- Since the business started in 2007, the Ruptela group of companies’ credit loss has never exceeded 2%.
- 2/3 of the current Linqo BNPL portfolio has already been amortised by the clients
- Security: Collateral (GPS Fleet tracking devices) and buyback after 60 days
- The loan term: up to 12 months
- Annual return: 12%
Take advantage of this extraordinary opportunity to diversify your portfolio with very attractive and secured BNPL business loans from Poland.
* Debt collection procedure:
1st day of each month – date of invoice
7-days payment period
8th of each month (one day after due date) – e-mail reminder about unpaid last invoice
15th of each month (7 days after due date) – call or sms to the customer. Purpose: agree a payment deadline
22nd of each month (14 day after due date) – demand for payment on paper with caution about customer adding to National Debts Register
28th of each month (21 days after due date) – last call to the customer with information about adding to National Debts Register and information that only same day payment confirmation would help to avoid that action
29th of each month (day after last call) – TT customer blocking & entry to National Debts Register
35 day after due date – all customer overdue invoices and agreement refer to law firm to file the lawsuit to court
