YOLO has expanded its product portfolio in order to meet expectations of its clients, who are interested in loans of higher amounts compared to our previous offer. YOLOcar is an instalment loan up to PLN 15 thousand, collateralised on client’s car, which is the main difference between YOLOcar and regular instalment loans offered by YOLO. In our opinion, such a collateral shall attract more conscious clients to our offer, resulting in lower default rates.
Taking into account the above, we have also decided to postpone development and launch of ‘YOLO Pay’, our “buy now – pay later”. We believe that YOLOcar is a simpler and more client friendly product, which has also proved to be easier for launch on the Polish market.