M Cash
M Cash is a private non-bank financial institution in North Macedonia offering consumer installment, employee, pensioner, and mortgage credit through 58 branches and a fully online platform, serving retail and SMB borrowers and operating as a subsidiary of Bulgarian holding Management Financial Group.
- Company typePrivate
- Founded2015
- HeadquartersSkopje
- Headcount251–500
- GTM typeB2C
- OfferingServices
What M Cash does
M Cash (М Кеш), legally FD M Kesh Makedonija DOOEL Skopje, is a private non-bank financial institution incorporated in the Republic of North Macedonia in 2015 and operating under a special license from the Ministry of Finance. The company is the first fully online financial services provider in the country, distributing consumer credit products through a hybrid channel of 58 physical branches across 28 cities, an online application platform, telephone sales, and a partner/affiliate program. Headcount exceeds 180 credit consultants plus back-office staff.
The product portfolio centers on small-ticket consumer credit and includes installment loans (5,000–150,000 MKD, 1–12 months), employee credit (15,000–150,000 MKD, no guarantor), pensioner credit (1% fixed annual rate, 6,000–100,000 MKD), and mortgage credit (300,000–6,250,000 MKD, 12–60 months at 2% fixed). Sub-products (M Fix, M Free 30, VIP/M Special, M Combo, M Go, Fin Favorite, M Kesh Hipoteka) add tiered interest rates from 1% to 12% per annum and express-processing fee structures ranging from 15% to 60% of principal. Underlying technology comprises an end-to-end online application portal with SMS and email verification, a credit calculator, and integration with the Macedonian Credit Bureau (MKB) for creditworthiness checks.
The business model is transaction-fee and interest-based, monetizing each originated credit through interest income, administrative processing fees, and optional express-processing add-ons. Marketing combines organic social (Facebook, YouTube, LinkedIn, Instagram), SEO, email, a referral program (Donesi Prijatel, 1,000 MKD per conversion), and a partner program. Loan repayments are accepted via Halk Bank AD Skopje or any M Cash branch. M Cash is wholly owned by Management Financial Group (MFG), a Bulgarian holding that consolidates nine non-bank lenders across Central/Eastern Europe, the Balkans, Spain, Kenya, and Peru, employing approximately 6,000 people and having issued more than 1.2 million credits cumulatively.
M Cash firmographics
Firmographics- Name
- M Cash
- Legal name
- ФД М Кеш Македонија ДООЕЛ Скопје
- Website
- https://mcash.mk
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- M Cash is a private non-bank financial institution in North Macedonia offering consumer installment, employee, pensioner, and mortgage credit through 58 branches and a fully online platform, serving retail and SMB borrowers and operating as a subsidiary of Bulgarian holding Management Financial Group.
- Ownership category
- akta.pro rank
M Cash industry classification
Industry- Product category
- Consumer Lending (Microcredit)
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)
- akta.pro secondary industry
- Single-Payment Payday Loans (FSAKAMAA)
Keywords
Where M Cash is headquartered
LocationHeadquarters
- HQ city
- Skopje
Offices27 records
Markets served
M Cash business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Каматни приходи: Главен извор на приход преку каматни стапки на издадени кредити. Фиксни каматни стапки од 1% до 12% годишно во зависност од кредитниот производ.
- Административни трошоци: Трошоци за обработка на кредитна апликација, манипулативни надоместоци и административни трошоци за управување со кредит.
- Дополнителни услуги: Експресна обработка на апликација и други дополнителни доброволни услуги.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Кредит на рати: 5.000-150.000 МКД, 1-12 месеци |
| Unit Pricing | Monthly | Кредит за вработени: 15.000-150.000 МКД, 5-12 месеци |
| Unit Pricing | Monthly | Кредит за пензионери: 6.000-100.000 МКД, 1-12 месеци |
| Unit Pricing | Monthly | Хипотекарен кредит: 300.000-6.250.000 МКД, 12-60 месеци |
| Unit Pricing | One time/ perpetual license | Дополнителна услуга - Експресна обработка |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
M Cash product offering
Product offeringCore offering
M Cash is a non-bank financial institution that issues consumer credit products including installment loans, employee loans, pensioner loans, and mortgage-backed loans to individuals across North Macedonia. The company operates 58 physical branches and a fully online application platform with 15-minute automated approvals and up to 1-hour fund disbursement. Customers can apply online or in-branch, customize principal amounts and repayment terms (1–60 months) via an online calculator, and choose optional express-processing add-on services.
Product overview
M Cash is a non-bank financial institution and the first fully online financial services company in North Macedonia, offering a portfolio of consumer credit products across 58 branches nationwide and over 200 employees. The core product line includes M Safe (flexible consumer credit), Kredit na Rati (installment credit of 5,000–150,000 MKD over 1–12 months), Kredit za Vraboteni (employee credit for employed individuals), Kredit za Penzioneri (pensioner credit at 1% interest), and Hipotekaren Kredit (mortgage credit up to 6,250,000 MKD over 12–60 months at 2% fixed interest). Supporting sub-products include M Fix, M Free 30, VIP/M Special, M Pensioner, M Combo, M Go, and Fin Favorite, each with distinct fee structures and interest rate profiles (ranging from 1% to 12% annual fixed rates). The company also operates loyalty (Donesi Prijatel referral) and partner programs (Programa za Partneri). The offering is complemented by a calculator tool for personalized loan planning and online application capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- M Safe Flexible consumer credit product allowing borrowers to choose principal amounts and repayment periods, with a 15-minute approval decision.
- Kredit na Rati (Installment Credit) Consumer installment loan from 5,000 to 150,000 MKD with repayment periods of 1 to 12 monthly installments, customizable via an online calculator.
- Kredit za Vraboteni (Employee Credit) Credit product for regularly employed individuals, 15,000 to 150,000 MKD over 5 to 12 monthly installments; no guarantors required; only an ID card is needed for application.
- Kredit za Penzioneri (Pensioner Credit) Credit product for pensioners with a 1% fixed annual interest rate for the entire repayment period; 6,000 to 100,000 MKD over up to 12 monthly installments aligned to pension payment dates.
- Hipotekaren Kredit (Mortgage Credit) Secured loan backed by real-estate property, from 300,000 to 6,250,000 MKD over 12 to 60 months at a fixed 2% annual interest rate; usable for designated or non-designated purposes including debt refinancing; first installment up to 30 days after issuance.
- M Fix Credit product with a fixed 12% annual interest rate and optional express-processing add-on; repayment terms of 1 to 4 months.
- M Free 30 Credit product with a 12% annual interest rate featuring a 30-day grace period for on-time repayment, during which interest is waived; one-month repayment term.
- VIP / M Special Premium credit tier with a fixed 12% annual interest rate, for amounts from 15,000 to 150,000 MKD with repayment terms of 5 to 12 months.
- Donesi Prijatel (Bring a Friend) Referral loyalty program that rewards existing clients 1,000 MKD when a referred friend successfully obtains a credit product; clients share a unique link via social media.
- Programa za Partneri (Partner Program) Affiliate/partnership program enabling individuals or legal entities with good reputation to earn income by referring credit customers through a unique tracking link.
Quantifiable outcome
- 95% од Македонците го познаваат брендот
- +3 more outcomes
Companies that use M Cash
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
M Cash technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
M Cash partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered flagship, core and minor.
- Management Financial Group (MFG)flagshipМ Кеш е дел од Management Financial Group (MFG), холдинг кој ги обединува водечките даватели на небанкарски финансиски услуги во Централна и Источна Европа. MFG има над 18 години искуство и управува со околу 300 сопствени канцеларии и над 6 000 вработени, како и над 1 200 000 издадени кредити.
- Халк Банка АД СкопјеcoreХалк Банка АД Скопје е партнер за уплата и пренос на средства. Клиентите можат да извршуваат уплати на сметката на Халк Банка: 270069929600339.
- EasyCredit БугаријаminorМеѓународна подружница на MFG во Бугарија.
- iCredit РоманијаminorМеѓународна подружница на MFG во Романија.
- iCredit ПолскаminorМеѓународна подружница на MFG во Полска.
- iCredit УкраинаminorМеѓународна подружница на MFG во Украина.
- Kredis ХрватскаminorМеѓународна подружница на MFG во Хрватска.
- Mi Prestamo ШпанијаminorМеѓународна подружница на MFG во Шпанија.
- Мброкер Северна МакедонијаminorМеѓународна подружница на MFG во Северна Македонија.
- iLoan КенијаminorМеѓународна подружница на MFG во Кенија.
- Mi Prestamo ПеруminorМеѓународна подружница на MFG во Перу.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
M Cash competitors and assessment
Company assessmentDirect peers
- iCredit Poland: MFG sister brand in Poland delivering online consumer credit to salaried and pensioner segments. Comparable product mix, regulatory environment (EU consumer-credit rules) and target borrower profile.
- iCredit Romania: MFG sister brand offering short-term consumer credit online and via branches in Romania. Same holding playbook, same parent technology and underwriting standards — the most direct intra-group comparable.
- Kredis Croatia: MFG sister brand in Croatia providing short-term installment consumer credit. Another Western-Balkans peer with the same operational template as М Кеш.
- EasyCredit Bulgaria: Sister brand under the same MFG holding, operating an identical non-bank consumer installment-credit model in Bulgaria with branches and online origination. Closest analogue to М Кеш in product, pricing structure and target segment.
- iLoan Kenya: MFG sister brand in Kenya focused on digital consumer credit. Useful peer for stress-testing the model in a very different regulatory and macro environment.
- Mi Prestamo Spain: MFG sister brand in Spain offering online consumer microcredit. Comparable online-led model and Spanish consumer-credit regulation provides a useful benchmark for product/price ceiling analysis.
Emerging players
- Mbroker North Macedonia: Domestic MFG sister entity operating as a broker in the same Macedonian market. Adjacent rather than direct competitor but competes for the same borrower pool via a different intermediation model.
- Nova Credit (Macedonia): Regional emerging non-bank consumer lender active in North Macedonia with a comparable online installment-credit proposition. Represents the type of digital-native competitor that could pressure М Кеш on price and speed.
Others
- Halk Bank AD Skopje: Macedonian commercial bank that is М Кеш's settlement partner (repayments are deposited to a Halk Bank account). Functions as an infrastructure/distribution counterparty and is also a competitor for prime consumer and mortgage borrowers.
Broad incumbents
- Provident Financial: Large, established European home-credit and consumer-credit incumbent operating across multiple markets with a branch-based model. Relevant as a benchmark for how scaled NBFI consumer lenders operate and what regulatory pressure on pricing looks like at maturity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
M Cash social profiles
Digital presenceM Cash compliance and trust
Trust signalCompliance3 records
M Cash financial estimates
Financial estimateRevenue estimate
Valuation estimate
M Cash leadership team
Management profileNumber of profiles
Profiles1 record
M Cash funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
M Cash M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about M Cash
What does M Cash do?
M Cash is a non-bank financial institution that issues consumer credit products including installment loans, employee loans, pensioner loans, and mortgage-backed loans to individuals across North Macedonia. The company operates 58 physical branches and a fully online application platform with 15-minute automated approvals and up to 1-hour fund disbursement. Customers can apply online or in-branch, customize principal amounts and repayment terms (1–60 months) via an online calculator, and choose optional express-processing add-on services.
Is M Cash a public or private company?
M Cash is a private company. It is classified as corporate owned and is currently operating.
When was M Cash founded?
M Cash was founded in 2015. It employs 251 to 500 people.
Where is M Cash based?
M Cash is headquartered in Skopje.
How does M Cash make money?
Three revenue lines are on record. Каматни приходи is the primary driver. The others are Административни трошоци and Дополнителни услуги.
Who are M Cash's main competitors?
Direct peers on record are iCredit Poland, iCredit Romania, Kredis Croatia, EasyCredit Bulgaria, iLoan Kenya and Mi Prestamo Spain. Emerging players are Mbroker North Macedonia and Nova Credit (Macedonia). Halk Bank AD Skopje is listed as an others. Provident Financial is listed as a broad incumbent.
Does M Cash have an API?
No public API is recorded for M Cash.
What industry is M Cash in?
M Cash's product category is Consumer Lending (Microcredit). Its primary akta.pro industry code is FSAKAMAI, Small-Dollar Short-Term Installment Loans (Non-payday), with a secondary code of FSAKAMAA, Single-Payment Payday Loans. Its NAICS code is 522 and its SIC code is 6141.