Latest peer to peer lending and investing breaking news and company updates.
February 26th, 2020: Orca: Orca has closed it’s retail platform handing all user accounts back to the platforms themselves. (Orca’s retail business model wasn’t financially sustainable).
February 13th, 2020: Zopa: More details are being revealed regarding Zopa’s board member Kapil Wadhawan who was arrested as part of an Indian money laundering investigation.
February 11th, 2020: Assetz Capital: A cloned Assezt Capital website trying to illegally access customer login information has been taken down. (Please ensure that the domain address in your browser bar is correct when you are logging into any financial website).
February 7th, 2020: Envestio, Kuetzal: Two Estonian p2p platforms that closed are being criminally investigated for possible fraud. Envestio’s website is not accessible to investors. (I’m very cautious about investing in Euro p2p companies due to lack of regulation).
February 6th, 2020: Lendy: Following legal challenges set forth by Lendy Action Group’s legal representative, administrator RSM is seeking legal counsel on the gray area waterfall distributions that could compensate Lendy’s previous owners. RSM’s fees have topped £1.7m so far.
February 5th, 2020: Lendy: The Lendy Action Group is raising legal funds to challenge Lendy’s administrator RSM. (I recommend anyone who has invested through Lendy to help fund this legal fund). You can learn more about the legal crowdfund here.
February 4th, 2020: Funding Secure: If you’ve invested money through Funding Secure, I recommend joining the Funding Secure Action Group. The group was formed by investors to help represent investors through the administration process.