Verkefnið

About the company

InvesCore NBFI JSC is a Fintech based micro-finance Company that was founded in 2016 and has been introducing advanced technology and providing innovative and swift services to its customers. As of today, we have 18 branches and 2 subsidiaries in Mongolia. Also, we have established 2 subsidiary companies in Kyrgyz Republic. In 2019, InvesCore held an initial public offering (IPO) worth of 15% of its total shares. Since the IPO the share price increased by 145% by the end of 2021. As of 2021, InvesCore and subsidiary companies are operating with 269 employees for over +80,000 customers.

InvesCore is the largest non-banking financial institution in Mongolia in terms of loan portfolio, net income and assets (out of 531 FIs) with a loan portfolio of MNT 174 billion (approximately USD 60 million) by the end of the 2021 and 40% of loan portfolio is accounting for SMEs and business entrepreneurs.

Regarding international expansion strategy, InvesCore is focusing on launching its business in the markets of Central Asia and South East Asia with the help of its digital lending solutions.

Loan purpose

With this funding, InvesCore will provide business loan for its current and new clients. Main target clients are SMEs in the capital city and rural areas.  

In the capital city, InvesCore offers loan services to support micro, SMEs within the SMB program, which includes low-cost loans and comprehensive training and consulting. By the end of 2021, over 500 business individuals and 100 legal entities have received our loan products and other services. In 2021, InvesCore started the “Economic Recovery and Adaptability Loan Program” funded by Rio Tinto Mongolia LLC to provide ultra-low-cost funding to SMEs in Mongolia. Target group of this program are:

• SMEs implementing an environmentally-friendly project
• SMEs run by entrepreneur(s) with disability
• SMEs run by women entrepreneur(s)
• SMEs run by single parent
• SMEs carrying out import-substituting business.

Our business loan term ranges from 24-36 months with monthly principal and interest repayments. Monthly interest rate ranges 2.2%-2.9% in Mongolian tugrik currency. Our internally developed Loan Origination System (LOS) ensures and collects the client’s information from state data base connection. LOS helps to save time for customers from collecting required documents and the automation process eliminates human related errors.

Missie

Our mission is to provide innovative financial products and swift services with seamless professionalism and be the reliable financial assistant to our customers.

Visie

We will provide innovative products and services in the financial markets of developing countries worldwide and create a reliable financing to support individuals and small and medium-sized enterprises.

Awards

Recognised as the “Best Investor” award by the Association of Mongolian NBFI from 2018 to 2020

“Excellence Service Entrepreneur” by Forbes in 2019

“Outstanding NBFI” award by Mongolian Chamber of Commerce in 2018, 2019, and 2021.