This only confirms that Bondster is one of the most popular platforms for investing in loans. Trust in the platform continues to grow and it currently has more than 22,000 active investors.

On Bondster, investors have access to a wide range of loans from Czech and foreign lenders and can invest in both Czech crowns and euros. This diversity enables effective portfolio diversification and reduces investment risk. Among the most popular are loans secured by real estate, which offer an attractive risk/return ratio. ACEMA Credit Czech is an important player in this area.

Czech investors increasingly appreciate the growing range of loans offered by domestic providers such as Advanto or Švýcarská půjčka. These investments allow them to participate in the financing of innovative fintech start-ups and support their further growth.

INVEST

Bondster is also successfully expanding beyond the Czech Republic, as evidenced by its wide range of euro-denominated loans. International expansion is attracting more and more investors looking for stable and profitable investment opportunities. One of the current attractions is the promotion of the lender Ibancar, which offers an effective interest rate of 13.3% per annum. This proves that Bondster is no longer just a Czech player, but is also gaining a stronger foothold in the European market.

However, sometimes complications can arise with some lenders. We take a proactive approach to these situations and offer our clients a complete service so they can rely on Bondster. Our consistent approach pays off – in the past we have recovered millions of crowns from troubled lenders such as RapiCredit, Fenchurch, Huddle Capital, ARVE and Crediface. By working closely with legal experts and regulators, we are able to effectively recover sums owed and protect our clients’ investments.

Another significant milestone is reaching an all-time high in AUM (assets under management). Most lenders have already reached their exposure limit, the maximum volume of loans they can offer on the platform. As a result, lenders can only issue new loans once previous loans have been repaid.

Since the launch of Bondster in 2017, CZK 5.6 billion has been invested on the platform and investors have shared more than CZK 271 million in interest. The average annual return on investment is currently 11.8%.

Bondster prides itself on the quality and credibility of its providers, which sets it apart from its competitors and provides investors with stable and attractive investment opportunities.

INVEST

Author of the article: Roman Muller

ALENDE

April 23, 2024

For the provider ALENDE, we are currently recording outstanding redemptions. We first contacted ALENDE representatives more than a month ago and therefore alerted them well in advance to the possibility of triggering automatic buybacks, explained all the background and prepared all the calculations and documents for sending the funds. We were assured by ALENDE that they would send the relevant funds on time and fulfil their obligations to investors.

We have been in contact with the provider and its CEO several times each week, highlighting the deteriorating situation. Unfortunately, despite all the urgings, the funds have not yet been sent from ALENDE and the buybacks have been activated. The CEO Fernardo Oltra promised that ALENDE will live up to all its commitments and obligations and will resolve the situation in the coming weeks. Despite these assurances, we have contacted ALENDE’s guarantor and informed him of this unfavorable situation. We are now requesting the company to document all funds, transfers of funds to verify that the promised funds will indeed be sent on the promised dates. Based on all these facts, we have decided to downgrade ALENDE’s provider rating to “D” – Defaulted Provider.

CrediFace

April 16, 2024

The provider CrediFace has promised to pay all outstanding loan redemptions in default by the end of April 2024. We are monitoring the situation and are in contact with the provider and are working to ensure that this deadline is met. In the event that the promised deadline is not met, we will proceed to legal recovery.

February 20, 2024

There was a technical issue on the part of CrediFace which led to incorrect matching of fully-invested loans. We are now waiting for the loan portfolio overview to be sent, which we will then process manually on our platform. The provider has also promised to send the necessary funds to perform loan repayments and make buybacks. We will keep you informed of further developments.

Fenchfur Legal

April 16, 2024

A final debt acknowledgement agreement and repayment schedule has been prepared and has already been sent to Fenchurch representatives. Negotiations are now underway regarding final confirmation of the agreement. We do not wish to disclose details and thus interfere with the negotiations until the final agreement has been concluded.

February 19, 2024

After multiple requests, we have not received required documents (list of loans and recovery status) from Fenchurch Legal loan originator for evaluation of repayment plan. Loan originator has not fulfilled the buyback guarantee and we have therefore downgraded the rating to D.

January 12, 2024

We received a draft repayment plan from Fenchurch Legal before the Christmas holidays. We are currently negotiating with the provider its final form. We will keep you informed of the outcome of the negotiations.

Kviku

April 16, 2024

We are still in communication with the Cyprus provider Kviku. The Cypriot entity itself does not currently have funding from the Russian Federation and therefore does not have funds that can be recovered. We are currently re-examining the situation and are still considering legal action against the Cypriot entity.

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 26, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The submitted debt recognition agreement from the loan originator Kviku was significantly disadvantageous for Bondster’s investors. For this reason, we have sent a counter-proposal to the provider and have unfortunately received no response as of today.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 17, 2023

We have received a draft debt recognition agreement from the loan provider  Kviku, which is another condition for the Russian authorities to agree to send payments to “not friendly countries”. Under this agreement, it would be possible to send funds from the Russian Federation to pay for buybacks. We are now analyzing the content of the agreement and trying to negotiate the most favorable terms for investors.

Once the agreement is concluded, Kviku can start sending payments. Unfortunately, taking into account the limits on payments to ‘not friendly countries’ set by the Russian Federation and the distribution of the ratio of creditors from these countries, this will be a monthly payment of EUR 1 000 to 2 000. This means, among other things, that unless President Vladimir Putin’s decree changes, the provider will be repaying the debt to the creditors for more than 15 years (NB if the debt were fixed and not further increased by the interest income of the investors). The specific repayment amount will always depend on the current RUB/EUR exchange rate.

December 14, 2022

To the Russian loan provider, Kviku still applies the restrictions on payments from Russian banks to banks in so-called “not-friendly countries”.

Over the past months, we have been looking for and analyzing various options for the safe and legal transfer of funds to the Czech Republic. We have set up an account abroad to which Russian rubles can be sent and exchanged into euros. We are currently testing the transaction and verifying whether the Czech bank will accept the transfer. If the transaction goes through, we will test the transfer from the Russian Federation. If the solution found proves to be optimal, we are ready to receive funds from Kviku to cover the buybacks.

We ask all our investors for patience. We are confident that the situation will be resolved as soon as possible and we will soon credit the funds to your accounts on Bondster.

October 16, 2022

At the moment, the Russian provider Kviku is still unable to make payments from Russian banks to banks in the so-called “non-friendly countries” due to the restrictions in place.

As soon as possible, Bondster CEO will make a trip to Belarus, where he will personally open a bank account to facilitate payments from Russia. Afterwards, the loan provider Kviku will make repayments of one million roubles a month to this account. The amount is limited by the decree of Russian President Vladimir Putin for payments to creditors in “non-friendly countries”.

The Bondster team is actively looking for and analysing other options of safe and legal money transfers. We kindly ask all our investors for patience. We believe the situation will be resolved soon, after which the funds will be credited to investors’ accounts at Bondster.

August 4, 2022

Dear Investors,

We would like to inform you about the current situation regarding the difficulties with cross-border money transfers of the Russian loan provider Kviku. Payments made from Russia to “non-friendly countries” are still limited to 10 million roubles per month. Even though it is possible to make rouble transfers in specific cases, the conversion of roubles into euros is very limited.

At Bondster, we are still analysing all transfer options and their potential risks, so that we can safely transfer funds from Russian providers to you. Simultaneously, we and our providers must comply with applicable regulations, which are changing very quickly. Therefore, we kindly ask all our investors for patience. We believe that the situation will be resolved as soon as possible and that the funds will be transferred to your accounts with Bondster in the nearest future.

Huddle Capital 

April 16, 2024

We have received a portion of the funds for redemption payments that have already been paid to investors. We are in further negotiations with the provider for the payment of the remaining amount.

February 19, 2024

The loan originator Huddle Capital didn´t fulfill the buyback guarantee and therefore we are downgrading the rating to D. We will keep you informed about further developments.

January 9, 2024

We received a draft repayment plan from Huddle Capital Group before the Christmas holidays. We are currently negotiating with the provider its final form. We will keep you informed about the outcome of the negotiations.

Lime Loans South Africa 

April 24, 2024

We are still in talks with representatives of Lime Loans South Africa, a Russian Lime Credit Group lender, and are seeking an out-of-court settlement. Due to the cessation of financing by the Russian parent company, the financial situation of the South African lender is not good. Given these circumstances, we cannot expect the best outcome in the recovery in the near future.

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 21, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The status remains unchanged as of 11 May 2023. The information published below still applies.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 9, 2023

South African loan provider Lime Loans South Africa is part of the Russian Lime Credit Group. The two companies are financially interlinked. Sanctions imposed on the Russian Federation following the invasion of Ukraine in the form of disconnecting Russian banks from the SWIFT global payment system complicate international fund transfers. This is not only towards creditors, i.e. you, the investors, but also within economically interconnected entities. 

Lime Loans South Africa is in a growth phase, and its operations are still funded by the parent company. Due to the inability to transfer funds from the parent company based in the Russian Federation, Lime Loans South Africa has a complicated cash flow management situation and is currently unable to meet the buyback guarantee. We are in contact with the loan originator and its parent company and are looking at possible solutions. 

For this reason, we have stopped issuing new loans to Lime Loans South Africa as early as 29 April 2022. We are in intensive negotiations on the terms of the repayment schedule for all Lime Credit Group providers (i.e. Lime Zaim, Lime Loans South Africa, and Lime MX).  

We kindly ask for patience from all our investors. We are confident that the situation will be resolved, and funds will start coming in from the loan originator. 

Lime MX (Lime Mexico) 

April 16, 2024

We are still in negotiations with representatives of the Russian Lime Credit Group’s Lime MX provider and are seeking an out-of-court settlement. Due to the cessation of financing by the parent company from the Russian Federation, the financial situation of the Lime MX provider is not good. The provider has a negative cash flow and in this situation the best recovery result cannot be expected in the near future.

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 21, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The status remains unchanged as of 11 May 2023. The information published below still applies.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 9, 2023

Lime MX, a loan provider from Mexico, is part of the Russian Lime Credit Group. The two companies are financially interconnected. Sanctions imposed on the Russian Federation after the invasion of Ukraine in the form of disconnection of Russian banks from the global payment system SWIFT complicate international fund transfers. This is not only towards creditors, i.e. you, the investors, but also within economically interconnected entities. 

Lime MX is in a growth phase, and its operations are still financed by the parent company. As the transfer of funds from the parent company located in the Russian Federation cannot be sufficiently implemented, Lime MX is facing a complicated cash flow management situation and is currently unable to meet the buyback guarantee. We are in contact with the loan originator and its parent company and are looking for possible solutions.  

For this reason, we have stopped issuing new loans to the Lime MX provider as of 8 November 2022. We are in intensive negotiations on the terms of the repayment schedule for all Lime Credit Group providers (i.e. Lime Zaim, Lime Loans South Africa, and Lime MX).  

We kindly ask for patience from all our investors. We are confident that the situation will be resolved, and funds will start coming in from the loan originator. 

Lime Zaim

April 16, 2024

We have repeatedly opened negotiations with Lime Zaim on the terms of a debt recognition agreement. So far, the terms proposed by the provider, which may allow funds to be sent under existing restrictions to unfriendly countries, have been significantly disadvantageous to investors. If the provider presents acceptable terms, we are prepared to negotiate a repayment schedule.

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 21, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The status remains unchanged as of 11 May 2023. The information published below still applies.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 17, 2023

We have received a draft debt recognition agreement from the loan provider Lime Zaim, which is another condition for the Russian authorities to agree to send payments to “not friendly countries”. Under this agreement, it would be possible to send funds from the Russian Federation to pay for buybacks. We are now trying to negotiate the most favorable terms for investors. We have sent a counter-proposal to the provider and are currently awaiting comment from Lime Zaim’s senior management.

Once the agreement is concluded, it will be possible to receive payments which, based on the limits for payments to “not friendly countries” set by the Russian Federation and the distribution of the ratio of Lime Zaim’s creditors, will be in the order of EUR 10 to 20 thousand per month. Unless Vladimir Putin’s current decree changes, the provider will repay the debt to the creditors over approximately 7 years (NB if the debt is fixed and does not further increase by the interest yield of the investors). The specific amount of the repayment will always depend on the current RUB/EUR exchange rate

December 14, 2022

To the Russian loan provider, Lime Zaim still applies the restrictions on payments from Russian banks to banks in so-called “not-friendly countries”.

Over the past months, we have been looking for and analyzing various options for the safe and legal transfer of funds to the Czech Republic. We have set up an account abroad to which Russian rubles can be sent and exchanged into euros. We are currently testing the transaction and verifying whether the Czech bank will accept the transfer. If the transaction goes through, we will test the transfer from the Russian Federation. If the solution found proves to be optimal, we are ready to receive funds from Lime Zaim to cover the buybacks.

The transfer of money from the Russian Federation is very complicated due to the current situation. Competing platforms (such as Mintos) are also unable to receive any funds.

We ask all our investors for patience. We are confident that the situation will be resolved as soon as possible and we will soon credit the funds to your accounts on Bondster.

October 16, 2022

At the moment, the Russian provider Lime Zaim is still unable to make payments from Russian banks to banks in the so-called “unfriendly countries” due to the restrictions in place.

As soon as possible, Bondster CEO will make a trip to Belarus, where he will personally open a bank account to facilitate payments from Russia. Afterwards, the loan provider Lime Zaim will make repayments of ten million roubles a month to this account.

The Bondster team is actively looking for and analysing other possible ways of safe and legal money transfers. We kindly ask all our investors for patience. We believe the situation will be resolved soon, after which the funds will be credited to investors’ accounts at Bondster.

August 4, 2022

Dear Investors,

We would like to inform you about the current situation regarding the difficulties with cross-border money transfers of the Russian loan provider Lime Zaim. Payments made from Russia to “non-friendly countries” are still limited to 10 million roubles per month. Even though it is possible to make rouble transfers in specific cases, the conversion of roubles into euros is very limited.

At Bondster, we are still analysing all transfer options and their potential risks, so that we can safely transfer funds from Russian providers to you. Simultaneously, we and our providers must comply with the applicable regulations, which are changing very quickly.

Therefore, we kindly ask all our investors for patience. We believe that the situation will be resolved as soon as possible and that the funds will be transferred to your accounts with Bondster in the nearest future.

Mikrokasa

April 16, 2024

The Polish court has not yet concluded the restructuring proceedings and has not yet decided on the amount of compensation to be paid to individual creditors of Mirokasa. In the current situation, there is no option but to wait for the court’s decision. Our counsel is regularly monitoring the development of the restructuring proceedings and we will keep the affected investors informed of any major changes in the situation.

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 21, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The status remains unchanged as of 11 May 2023. The information published below still applies.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 17, 2023

The status remains unchanged as of 15.2.2023. The information published below is still valid.

December 14, 2022

The status remains unchanged as of 14 December 2022. The information published below is still valid.

October 16, 2022

Since the restructuring proceedings is still ongoing, the Polish court has not yet ruled on the amount of compensation that will be awarded to individual creditors of the loan provider Mikrokasa. Our legal representative is regularly monitoring the restructuring proceedings as well as the communication with Mikrokasa representatives. We will inform investors concerned about important developments in the situation.

Part of the portfolio (buybacks due after 7 October 2020) that is not subject to the restructuring proceedings is currently in arrears. We are trying to resolve the situation with Mikrokasa management representatives.

August 4, 2022

Dear Investors,

We would like to inform you about the current situation regarding the loan provider Mikrokasa. The Polish court has not yet ruled in the restructuring proceedings by deciding on the amount of compensation for individual creditors. The restructuring proceedings is still ongoing, and there has been no further progress in determining specific amounts to be paid or the timeframe of payments. Our legal representative is actively engaged in the monitoring of the restructuring proceedings and communication with Mikrokasa representatives. We will inform affected investors about important news without delay.

Part of the portfolio (buybacks due after July 10, 2020) that is not subject to the restructuring proceedings is currently in arrears. We are looking for a solution to this situation with the representatives of Mikrokasa’s management.

NetGotowka

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 21, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The status remains unchanged as of 11 May 2023. The information published below still applies.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 17, 2023

The loan originator NetGotowka has not complied with the terms of the letter agreement on repayments. We are preparing the necessary steps for legal recovery.

December 14, 2022

The status remains unchanged as of 14 December 2022. The information published below is still valid.

October 16, 2022

We were able to sign a bilateral repayment agreement with the NetGotowka loan provider. Under the agreement, the outstanding debt is to be repaid by the end of 2023. The provider is currently making all the payments it is obliged to as agreed in the repayment schedule. Bondster will then distribute the payments to investors as soon as they are received.

August 4, 2022

Dear Investors,

We would like to inform you about the current situation regarding the loan provider NetGotowka. The details of the instalment agreement are currently being discussed with NetGotowka, with the aim of paying off the remaining debt by the end of 2023.

Omnigrant

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 21, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The status remains unchanged as of 11 May 2023. The information published below still applies.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 17, 2023

For the loan originator Omnigrant, we are preparing the necessary steps for the legal recovery of the debt.

December 14, 2022

The loan provider, Omnigrant, has started communicating with us after preparing the legal steps and is starting to send installments. By the end of the year, we could receive an amount in the lower thousands of euros. After the New Year, there will be a new agreement with the provider. If the provider does not communicate with us, we are ready to proceed with further legal steps.

October 16, 2022

Despite our best efforts, we have been unable to obtain an instalment agreement proposal from the Omnigrant group representatives (concerns the loan providers Szybka pozycka Polska, Szybka pozycka Artex and Szybka pozycka).

We have handed the case to our legal representatives who are going to send a pre-action protocol letter in the penultimate week of October. If there is no response to it, we will proceed with a legal recovery of the claim.

August 4, 2022

Dear Investors,

We would like to inform you about the current situation regarding the loan providers Szybka pozycka Polska, Szybka pozycka Artex and Szybka pozycka. We did not receive a proposal of an instalment agreement plan from the representatives of the Omnigrant financial group, to which the above-mentioned loans belong, within the mutually agreed deadline.

Therefore, we are referring the case to our legal representatives, and we are proceeding to legal enforcement.

QuickCheck

April 16, 2024

The situation in Nigeria is complex. When exchanging domestic currency into EUR or USD, the market is strictly regulated by the Central Bank of Nigeria. Due to the regulation of the exchange of Nigerian currency into foreign currencies, this provider cannot guarantee the exact amount of exchange and the sending of funds. However, we received proof of a significant payment in early April and expect the funds to be credited to our bank account. Once the amount is received, a portion of the redemptions due will be paid. We are in weekly contact with Quickcheck provider representatives to monitor the amount of the exchange and funds sent. Quickcheck’s Managing Director Oladele Ismail O has promised to resolve the whole situation in about 2 months.

February 22, 2024

We still haven’t received funds from QuickCheck to buy back delinquent loans. The provider has issued a statement, according to which the delay in transferring funds has been caused by the worsening macroeconomic situation in Nigeria and problems with exchanging the local currency. You can read the QuickCheck’s statement HERE.

January 9, 2024

We have received a portion of the funds from QuickCheck to make buybacks. The loan provider has committed to submit a proposed repayment schedule for the remaining portion of the outstanding buybacks by 9 January 2024 (note: we did not receive a proposal by that date and are urging the provider). We will keep you informed of the outcome of the negotiations.

Right Choice

April 16, 2024

Our legal representatives are in discussions with representatives of Right Choice Finance regarding the acknowledgement of the debt and confirmation of the repayment schedule. We have selected a collection agency in Singapore which is currently investigating the status of RCF’s assets as a basis for filing an interim order and securing these assets to satisfy investors’ claims. In the event that the repayment schedule and its performance cannot be confirmed, we will proceed with the action, which, according to information from our law firm, would involve court proceedings estimated to take several years. For this reason, we are still trying to put pressure on the provider to resolve the situation out of court. We do not want to disclose more detailed information at this time so as not to prejudice the ongoing negotiations.

February 12, 2024

A pre-action notice has been served to Right Choice Finance demanding payment of all claims to investors. This legal document has been officially received by the company’s representatives. At the moment, we are in the process of communication with its legal representatives. We will keep you informed of further developments.”

January 12, 2024

To date, we have not received a written confirmation of the Recognition of Liabilities and Repayment Schedule Agreement from Right Choice Finance. Nor have we received a written statement from the provider to investors within the agreed timeframe. For these reasons, we have commenced legal action to recover all outstanding debts. We will keep you informed of further developments.

December 13, 2023

A repayment schedule has been agreed on with Right Choice Finance with a timeframe for repayment of all obligations by the end of August 2024. The first repayment is scheduled for January 2024. Further repayments will follow at regular monthly intervals. We are now working with our lawyers to prepare the formal wording of the Recognition of Liabilities and Repayment Schedule Agreement. On Thursday, December 14, 2023, Right Choice Finance promised to provide a formal investor statement. We will keep investors informed of the outcome of further negotiations.

November 24, 2023

The provider Right Choice Finance submitted a proposal for an installment plan, which unfortunately did not meet our expectations. We have therefore prepared our own draft repayment schedule, which we will discuss further with the provider in the week of 27/11/2023. We have repeatedly asked Right Choice Finance to submit an official statement for investors, which we have not yet received. We will inform investors about the results of further negotiations in a timely manner.

November 16, 2023

Due to an incorrect import of the provider Right Choice Finance, loans were issued on the Bondster platform with a shorter period for activating the buyback (note that instead of the usual 60 days, a period of 10 days was given for some loans). The mentioned system error led to delay in buybacks repayment of Right Choice Finance loan originator.

Immediately after discovering this serious fact, we started intensive negotiations with the provider and demanded a proposal how to solve the situation, including a detailed breakdown of incomming payments. On Wednesday 11/15/2023, a representative of the provider Right Choice Finance informed us that they are prepared to keep the overdue and future buyback guarantee given to investors, but at this time they will not meet the due dates. The provider justifies this decision by the deteriorated short-term liquidity of the entire financial group, to which Right Choice Finance belongs.

For this reason, we proceeded to lower the rating of the provider from grade A- to the lowest grade D (note that grade D refers to default providers). At the same time, we suspended the possibility of issuing new loans from Right Choice Finance on the Bondster platform. Previously issued loans cannot be offered even on the secondary market.

Although we have proceeded to downgrade Right Choice Finance to grade D, regular monitoring shows that the company has a sufficiently strong capital position. Current Right Choice group problems with liquidity, which were not foreseeable within the quarterly monitoring of Right Choice finance entity, prevent on time payment of buybacks. However, from a long-term perspective, company it self is capital strong, which suggests that it is able to meet its obligations to investors in longer term perspective.

We continue negotiating intensively with the provider and expect the installment schedule proposal that should cover both currently due and future buybacks. At the same time, we asked the loan originator to deliver an official statement for investors with a closer justification for not complying with the buyback guarantee.

Right Choice Finance promised to deliver the repayment schedule proposal by Friday 17/11/2023. We expect to continue negotiating with the loan originator on this proposal in the week of 20/11/2023. We will inform investors about the outcome of the negotiations no later than Friday 24 November 2023.

SpeedCash

April 16, 2023

The status remains unchanged as of 16 April 2024. The information published below is still valid.

November 24, 2023

The status remains unchanged as of 24. 11. 2023. The information published below is still valid.

June 21, 2023

The status remains unchanged as of 21. 6. 2023. The information published below is still valid.

May 11, 2023

The status remains unchanged as of 11 May 2023. The information published below still applies.

March 30, 2023

The status remains unchanged as of 30. 3. 2023. The information published below is still valid.

February 17, 2023

The status remains unchanged as of 15.2.2023. The information published below is still valid.

December 14, 2022

The status remains unchanged as of 14 December 2022. The information published below is still valid.

October 16, 2022

The restructuring proceedings of the loan provider Speedcash has been ongoing since the June vote of the creditors’ committee on the payment of at least 50% of its obligations but there has been no progress made since then. Our legal representative is constantly monitoring the situation and we will immediately communicate any new information to all investors concerned.

July 13, 2022

Dear Investors,

We would like to inform you about the current situation regarding the loan provider SpeedCash. There has been no further progress in the restructuring proceedings of Speedcash since the June vote of the creditors’ committee to require the payment of at least 50% of the money owed. According to our information, all creditors voted in favour of this proposal after having familiarised themselves with the situation.

Our legal representative monitors the proceedings daily and we will immediately communicate any new information to all affected investors.

For up-to-date information on developments at Right Choice Finance, please visit the “Regular updates on loan originators page.“.

Loans were issued on the BONDSTER platform with an incorrectly entered buyback activation period due to an incorrect import by the Right Choice Finance provider. Instead of the standard period of 60 days, a value of 10 days was given for part of the loans. This system error was detected as part of the continuous monitoring of the provider. These loans are currently overdue with the the buyback guarantee repayment.

Although the provider Right Choice Finance originally did not expect such a short period for buyback, at the moment it is intensively preparing a solution leading to the quick repayment of current investors´ claims. By Wednesday, November 1, 2023 at the latest, we have been promised by the provider a final proposal for solving this extraordinary situation, including the determination of a binding deadline for the payment of all outstanding buybacks.

We assure all affected investors that they will soon receive the money in their investor accounts. The reason for the delay in the payment of redemptions is only an incorrectly entered deadline for the redemption of investments. The provider Right Choice Finance is a financially sound and stable company with which we have never experienced problems with the payment of investments. The management of the company has provided us with full cooperation since the error was discovered.

We will inform you immediately about the further development of the situation.

We apologize for the delay in the payment of buybacks and thank you for your patience.

Our internal development team, together with a partner IT company, continuously improves the Bondster online platform to make it as user-friendly as possible for investors. When introducing innovations into practice, unexpected complications may exceptionally occur.

Unfortunately, this situation occurred on 10/3/2023 and as a result of this event, some investor transactions may not have been processed on that day. At the same time, we want to assure all investors that all funds from unprocessed transactions remained in investor accounts.

We have asked the affected investors by e-mail to check whether the transactions of 10/03/2023 have been completed. If a transaction was not completed, it must be performed again. Currently, our application is already running without errors.

We apologize for the complications and thank you for your patronage.

Team Bondster

The Bulgarian financial company ITF Group JSC offers investments in short-term consumer loans on Bondster. After evaluating its data for the second quarter of 2023, we have decided to increase its assessment from grade B+ to grade A-.

The credit risk assessment compiled by the analyst team at Bondster reflects a provider’s ability to meet its obligations to investors as well as liquidity and capital requirements. We evaluate the financial condition of individual providers on an ongoing basis, and if necessary, make adjustments to their assessment.

After a thorough analysis of the available data for the second quarter of 2023, we have decided to increase the assessment of the provider ITF Group JSC (ITF) from grade B+ to grade A-.

The following key factors of the company’s performance led us to increase the assessment.

INVEST

Significant sales growth

In the second quarter of 2023, ITF saw an impressive sales growth. Its performance in this respect demonstrates a strong ability to respond to market dynamics and increase its competitiveness. The sales were up 61% year-over-year.

Profitability

ITF made a significant profit in the second half of 2023. It reached € 573,000, which is twice as much as in the previous period in 2022. The increase in profit proves the company’s strong financial performance.

Portfolio growth

ITF continues to successfully expand its portfolio. It is the result of strategic credit initiatives and a careful approach to the financial needs of its clients. By gradually growing its portfolio, the company achieves higher stability.

Author of the article: Roman Muller

The credit risk assessment compiled by the analyst team at Bondster reflects a provider’s ability to meet its obligations to investors as well as liquidity and capital requirements. We evaluate the financial condition of individual providers on an ongoing basis, and if necessary, adjust their assessment. 

After a careful assessment, we have increased the assessment of CrediFace from Peru from grade B to grade B+.

INVEST

The company was profitable in Q1 2023 and maintains a low default rate on its loans. (only 11% of its clients were over 30 days behind on their payments). CrediFace is steadily building its loan portfolio, and despite being very strict and having an approval rate of only about 8%, the portfolio is now worth over one million euros. Capital adequacy exceeds 17% and liquidity indicators are at a good level.

The economic situation in Peru was stable in June 2023 and showed signs of growth. However, certain risks and uncertainties were present, such as high inflation, tight monetary policy, social tensions and populism, financial instability and global recession. In the first quarter of 2023, there was a negative shock caused by the climatic phenomenon El Niño Costero, which affected economic activity in the country. The situation is expected to improve throughout 2023 but it won’t be until early 2024 that the effects of El Niño Costero will completely fade away. Corruption and political instability are also among the challenges the country is facing. Still, Peru remains an important player in the region with the potential for further growth and development. Despite the slightly deteriorated macroeconomic conditions in Peru, the loan provider CrediFace is doing financially well.

Author of the article: Roman Muller

The company attracted interest for nearly EUR 2,5 million. The 700,000 shares offered with an issue value of BGN 4.30 (EUR 2.20) were oversubscribed 1.6 times by a wide range of both individual and institutional investors.

As a result, all offered shares were successfully subscribed in full and the company raised the intended EUR 1.5 million capital.

According to the offering’s pro rata allocation rules for oversubscription, each investor will receive approximately 60% of the number of shares applied for.

“I highly appreciate the investors’ confidence in our company and I am committed, together with the entire management team, to work towards achieving the set goals so as to justify this confidence. I am sure that the best for the company and the investors is yet to come”, said Svetoslav Angelov, the owner and CEO of ITF Group.

It is expected that the trading in the permanent issue will commence on BEAM within the following two weeks.

ITF Group is already known to investors with its bond issue in 2019. The bond was for the amount of EUR 2,5 million with 7 year term and 10% fixed annual interest and is also being traded on the Bulgarian stock exchange.

Now with the public offering the company makes a second important step confirming transparency and willingness to further strengthen investors trust

The company will use the funds to speed up it’s growth. 

Source: ITF Group press release

The Spanish asset-backed lender had an impressive Q1-2022 overperforming in all fronts due to an excellent credit risk and collections performance:

• The annualized rate of origination finished Q1 at €9.7m, leading into an
• Asset Book of €5.1m (3x YoY increase). 
• Annual recurring revenue is ahead of plan at €3.6m (3x YoY increase).
• Ibancar is profitable since Q3 2021 with Q1-2022 annual recurring net profit of €500k (4x YoY improvement)
• The non-performing book remains below 3% and capital losses on these are zero due to efficient collateral recovery.
• Finished Q1-2022 with a stronger cash position.

You can find out the latest available management report with Q1-22 results HERE.

The use of collateral in lending continues to be the key element to success, it allows Ibancar to be inclusive as well as secure, delivering constant returns to investors.

Ibancar is working with Bondster since 2020, with an excellent loan performance:

• 100% payments properly paid
• 0% defaulted loans

We continue to support the P2P market and as an investor you can follow Ibancar and ask questions via its transparency website https://p2p.ibancar.com/.

Alexander Melis
CEO
Ibancar World SL

Dear investors,

We would like to update you about the current situation with the loan provider RapiCredit. We are still in intensive contact with the loan provider, while in the meantime we are working together on manual buyback pay outs. We expect that the whole situation caused by the technical issues to be resolved in the coming weeks. According to RapiCredit’s official statement, the provider is in good financial shape, with the first half of 2022 showing a 58.5 % increase in the number of loans issued compared to the first half of 2021. Since May 2022, RapiCredit’s operating income has increased by 89.2%, and EBITDA has improved by 178.5%, while equity has increased by 100%.

On behalf of both Bondster and RapiCredit, we are confident that the entire situation will be settled promptly, and we will continue to grow together.

June 8, 2022

Dear Investors,

We would like to inform you about the situation that occurred in recent days regarding the loan originator RapiCredit.

Due to technical issues between RapiCredit and Bondster, the buybacks have been delayed.

The whole situation with the RapiCredit loan provider is being resolved intensively, and all buybacks have been manually paid to investors as of 31 May 2022. The investments have, of course, been remunerated according to the applicable terms and conditions for the entire period. This week, RapiCredit representatives visited Bondster personally in Prague to resolve the situation together as quickly as possible.

Therefore, if there is a delay in the coming days in the payment of buybacks provided by RapiCredit, the situation will be resolved again by manual payment.

We thank all investors for their understanding and patience.

The Bondster team