Friday, July 29, 2016

Payday Loan companies based in Estonia

The birth of SMS loans

When you arrive in Estonia one of the things that might strike you at first is the number of SMS lenders available on the local market: SMS laen, credit24, omaraha and many more... the market is cluttered by those short term loans.

The reason is quite simple, locals are very fond of this easy money. Those loans are convenient and easy to get as companies are not very regarding in terms of assessing whether the applicants will be able to repay their loan.

It is also a neighboring country, Finland,  that started to launch SMS loans a few years ago. Naturally the trend exported fast across the Baltic sea and Estonians quickly adopted and copied it.

Moving to other markets

Some other companies were quite smart and already realised that the market was crowded and decided to bring this innovation to bigger markets.

That was for example the case of TxtLoan that was founded in 2009. The company has now re-branded and is called Myjar. This company's success started another interesting trend in the country: tackling the UK market while based in Estonia.

This is true for payday lenders as you can see on this comparison site but also for peer to peer loans and other financial services: Bondora (P2P lender), TransferWise (send money abroad), Monese (bank account), Peachy (short term lender) and more...

Why the UK?

One would wonder why go to the UK when the currency is different and with such a geographical distance.

One of the main reasons is language. Most Estonians speak English, and very well. Few speak French, German, Spanish... so the easiest market to go at first is the UK, the US being too far.

The UK being a member of the EU also offers advantages and Estonia is a good home with low taxes and an affordable labour market full of young talented English speakers and developers full of innovative ideas.

Saturday, February 1, 2014

Travel to Estonia...

Hei, if you are looking for information regarding travelling to Estonia, that is the right place!

You'll find several articles that will help you buy plane tickets, choose an airline company, discover the country and the nicest places in Estonia! If you need a touristic guide, please visit "la boutique".

If you think about moving as an expat to Estonia, there are loads of information about it on my other site in French but do not hesitate to contact me if you have any questions.

The map below gives a non-exhaustive overview of some remarkable places in Estonia (with pictures):

Agrandir la carte

Thursday, November 11, 2010

Transfer to Estonia-Tallinn

From now on, French in Estonia will merge with Estonie-Tallinn, my French site.
Google translate will allow English speakers to follow the news posted on the blog.

Friday, August 20, 2010

Bloomberg Euro train trip: Latvia and Lithuania

Latvia Pushes on With Austerity as Election Approaches

Lithuania's State-Owned Assets

Wednesday, August 18, 2010

Euro: what's in it for Estonia?

> A Bloomberg video to watch on Youtube: