the Venture capital giant Apollo She chose pepper featurewhich belongs to multinational financial services of Australian origin, to manage the remaining portfolio of the old Evo Financea financial company that did not transfer it to Bankinter when it sold it Evo Bank in 2019. It is a portfolio of unsecured loans from 58 million euroswhich has about 40,000 card customers spin And more than two million closed accounts.
pepper feature is a global credit information company with a platform that allows it Apollo Customer search and analysis service, in addition to data management and recovery services. The company operates in nine countries in the UK, Europe and Asia Pacific, managing $51.9 billion in assets and 879,610 loans. with the process in which he rested Pepper Manage and close its last financial assets as elEconomista.es knows. The fund and the management company have not commented on this information.
closed for activity
after the transfer Evo Bank and its Irish subsidiary Bankinter, Apollo Financial liquidation has begun. In 2019, he renamed the company Prescriber Services and Payment Methods (Spymp) and tried to sell it. As Spymp explains in its 2021 accounts submitted to Mercantile Registry, the fund decided soon after to close the business to new clients and focus on recovery. The company did not find a buyer and at that time it had some 450 million euros in credits and 114 employees on staff.
The initial plan for Apollo It was to strengthen its activity, until it reached 1,000 million on balance, but after a few months it informed the unions of 47 departures for economic and production reasons. in 2021, spimp It maintained 20 employees and completed the year with a turnover of 25.05 million, but losses escalated from 9.54 million in 2020 to 19.36 million. Trade receivables and accounts receivable from customers in the year were reduced from €221.29m to €74.02m with the management and sale of a portfolio of loans to date with or in default recently of €61.59m, as shown in the annual report.
Origin spimp It dates back to the amalgamation of the old Galician chests. In 2010, Caixa Galicia and Caixanova created NovaCaixaGalicia with its mix and two years later, after recapitalization, the entity divided its business into two entities: NovaGalicia (currently Abanca) to operate in Galician territory and EVO to attract business in the rest of the country. In 2014, Apollo acquired EVO. In the financial company, it consolidates previously acquired businesses in the country: in 2011, it was left with MBNA, the credit card division of Bank of America in Spain, for 400 million; To which it later added consumer loans obtained from Citibank and FinanMadrid, which was acquired from Bankia in 2013. FinanMadrid, renamed Fracciona, and AvantCard merged in 2016 into a new company Evo Finance, which today manages assets as Spymp .
1.1 billion
It’s the size that came to manage Evo Finance Before selling the business in Ireland (operated by AvantCard Ireland) to Bankinter. This department managed about 300 million and the financial company that today is called CIMPE has a funded balance of more than 700 million in Spain. By then it had more than 560,000 customers. Apollo unsuccessfully searched for a buyer before deciding to close the business.
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