Company Information

Get to know MyBucks

Founded in 2011, MyBucks S.A. was a FinTech company that aimed to provide financial inclusion for unbanked and underbanked populations, mainly across sub-Saharan Africa. The company leveraged technology to offer a range of financial products, including personal loans, SME loans, and banking services, through its various brands. MyBucks was listed on the Frankfurt Stock Exchange, which fueled its rapid expansion and acquisition of banking licenses in several African countries. However, the company faced significant financial difficulties, citing poor corporate governance and unsustainable lending practices, ultimately leading it to file for bankruptcy in late 2019. The group was subsequently dismantled and its assets and operational banking subsidiaries were sold to other financial institutions.

Industry

Financial BankingPRIMARY
Financial Insurance
Financial Other Service

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MyBucks

Luxembourg

Founded in

2011 (15 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

Security Information :

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ASIC

Security Information

Warning

This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.