Fintech from E-Estonia


IuteCredit Group – established in 2008 – is a leading European fintech company. The Group is specialized in consumer finance and payment services via its 100% subsidiaries. Iute serves customers currently in Moldova, Albania, North Macedonia, Bulgaria as well as Bosnia and Herzegovina under the “MyIute” and “IuteCredit” brands, while it is expanding its services, geographies, and brands ecosystem.

Group’s core loan products are unsecured installment loans and buy-now-pay-later loans with maturities between 1 month and 48 months and collateralized loans with maturities up to 72 months. Loans are provided over the webshops, Iute’s website, MyIute app, network of branches, merchants, and partners.

Iute’s payment services vary from country to country between full-range solutions provided as a bank, and partial solutions subject to the license issued in any given country. Group operates its own ATM network that is accessible with the MyIute app.

Group finances its loan portfolios with equity, with secured bonds that are on the main list of Frankfurt Stock Exchange and Nasdaq Baltic, and with deposits (as a bank inside a given country).
The mission of IuteCredit is to create the extraordinary experience in personal finance by exceeding customers’ expectations.

Our Founders’ Vision

The future of personal finance will be based on instants and installments. It is not news that throughout history, writing on paper has served humankind well, to make long-term, big value transactions. As a very abstract example, paper has been used to make a state, print money, create a mortgage, purchase a horse, a car or another big item in individual life. However, humankind is moving away from paper transactions towards faster, shorter-term, incremental deals, along with the development of technology that enables it. Our consumption is split into smaller and even smaller units. A thing or service can be measured, offered and consumed in minutes and in seconds. Full ownership is no longer a precondition to consumption. Qualities of services and things can be configured down to very fine detail while keeping the business scalability.

The economy that is based on subscription and pay-as-you-go will expand. We foresee a future in which it is common to spend regular monthly income by splitting it between various regular, scheduled payments for goods and services that improve quality of life during the agreed time window. Some of these payments will be credit repayments. The trick is to make the installments very easy to execute, turning them into a seamless part of everyday life. Another trick is to make the flow of money as seamless, instant and natural, as is a conversation between two humans.

IuteCredit’s mission is to offer its customers extraordinary experience in the field of personal finance. Extraordinary means the fastest and most comfortable service. The customers can enjoy a wallet that offers an instant flow of money according to their wish, and they can access individual credit and split their consumption into installments. Finally, extraordinary means human interaction, as we believe that robots and fintech solutions are good, but not the final answer to questions related to personal wellbeing. Nothing can replace the sincerity of a smile and the attention of another human being.

As a Group, we aim to serve millions of customers and that means that we constantly strive to attract the best talent, implement the latest technology, and develop the most cohesive organization —  to bring out the best in each individual team member. Money is the outcome of the right actions. We as a team enjoy pursuing the right actions and overcoming the challenges before us.

Tarmo Sild & Allar Niinepuu