December 26, 2021
Autofino is a secured financing provider which offers long-term second-hand car leasing services for individuals and small businesses with a possibility to buy the vehicle at any point. The company maintains the ownership of the vehicle, and by doing so, it secures the loan in case the borrower fails to make repayments. A typical vehicle is 10+ years old with an average price of €3,500 which makes it liquid and depreciate slowly. Such business model is less risky than standard loans and enables to target client groups with limited access to traditional financial services. Autofino focuses on people with income from abroad, sole proprietors and small businesses, among other clients. The company is structured in a lean and efficient manner by standardizing and automating all its major operations to minimize costs and reduce human error. It was founded and broke even in 2018 with its profitability growing further in 2019 and 2020. Autofino sees strong demand for its services and offers attractive high-return investment opportunities with a buy back guarantee to finance its portfolio growth.
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