Get a quick overview of the latest news from the P2P lending industry
Gofingo Group has repaid €7.19 M in war-affected loans so far. Gofingo's remaining obligations are €2.9 M.
The Supervision Committee of Latvijas Banka has issued the Crowdfunding Services Authorization to the LANDE Platform.
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The loan originator, VIVUS from Mexico, repaid the outstanding amount, including accrued interest, back to investors.
Bondster announced that it is now listing loans from Advanto, a Czech fintech providing employee benefit of early earned wage access. The platform also revealed that it started legal actions against Right Choice Finance as the company failed to fulfill the buyback guarantee.
The platform informed investors that it is temporarily pausing transactions on the secondary market. Reinvest24 also removed the primary market offers. Last month, the Estonian Financial Supervisory issued a warning as Reinvest24 is operating without the necessary authorization.
Lonvest has disabled the top-up option on the platform, as their lending partners don't need additional funding at the moment. The platform announced that in the first quarter of 2024, it will be expanding its network with new partners and will once again be open to accepting funds. The withdrawal function remains active.
The Estonian Financial Supervisor is warning investors about the suspicion that Reinvest24 continues to offer crowdfunding services without authorization.
The essential criteria for a loan to be classified as default on LANDE include a payment delay exceeding 90 days (with variations based on market or schedule type), absence of refinancing options, and/or a complete lack of communication between the borrower and debt collection officers.
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