Want to give your investments a boost and secure an attractive bonus at the same time? The July cashback promotion with Philippine company Mocasa, which is currently running on the Bondster investment platform, is just for you. From July 1 to July 31, 2025, you can invest in euro loans from this dynamic company with a fixed return of 13% per annum. Plus, you’ll now get cashback to further boost your total return.  The amount of cashback is based on the total amount of your new deposit and investment.

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A Stable Partner for Your Investments

Mocasa, officially Philippine Cashtrout Lending Corporation, is one of the fastest growing digital consumer lenders in the Philippines. Since its inception in 2019, it has built a strong market position and now has more than one million active users. It offers fast loans with no transaction fees, a virtual Mastercard payment card with an interest-free period of up to 50 days, and instant QR payment options.

Mocasa has its own credit app with more than 1 million downloads on Google Play and the Apple Store, and is currently used by more than 700,000 clients to easily manage their finances. Mocasa’s vision is to have 2 million clients by the end of 2025, and 5 million customers by 2027.

The company is licensed by the Philippine Securities Commission (SEC) and works with reputable partners such as Mastercard, Asia United Bank and Credit Information Corporation.

Based on a financial analysis, Bondster decided in June to upgrade the company’s internal rating from a B- to a B, reflecting not only its stable business model but also its transparent operations and healthy margins.

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Reasons for the rating upgrade:

• Improved financial results
• Stable growth of the loan portfolio
• Consistent repayment performance on the Bondster platform
• Responsible corporate management

Due to Mocasa’s excellent financial condition, Bondster decided to increase its exposure limit in June. This allows us to add more loans to the Bondster platform and expand our investment offering.

MORE ABOUT THE PROVIDER

So if you are looking for a way to enrich your portfolio with a promising investment outside the traditional European markets, Mocasa is a very interesting choice. The Philippine digital finance market is growing at a rapid pace, and right now you have the opportunity to participate in this growth, and get extra rewards for doing so.

Cashback is based on the amount of new investment funds invested and will be credited directly to your investor account no later than 31 August 2025.

Getting involved is easy. Simply have an account on Bondster (or open one in minutes), deposit new funds during July and invest them in Mocasa Euro loans available on the primary market. After that, you just watch your investment work, and you’ll be in for a pleasant surprise in the form of a cashback in August.

Don’t wait. Invest in Mocasa loans today and get a superior return.

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Autor: David Jukl

Trust and security are the fundamental pillars of investing. That’s why Bondster consistently enforces claims against originators who breach contractual terms and unlawfully withhold repayments of principal and interest.

“Transparency and investor protection are our top priorities. Thanks to our proactive approach, we’ve managed to recover millions of crowns from problematic originators – and we will continue these efforts,” says Josef Novák, Chief Operating Officer at Bondster.

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How does the recovery process work?

The recovery process at Bondster is divided into three phases:

• Prevention and communication – An internal team communicates intensively with the originator through video calls and emails to prevent issues and ensure the repayment of obligations.
• Restrictions and negotiation – If the originator fails to respond and falls into default, Bondster halts their ability to list new loans, downgrades their rating to “D,” and initiates negotiations for a repayment schedule. Guarantors may also be brought into the process.
• Legal action – If previous measures yield no results, Bondster initiates legal steps, including lawsuits, criminal complaints, or participation in insolvency proceedings.

Concrete successes: millions returned to investors

Bondster’s consistent approach has led to a number of significant achievements. For example, the Colombian originator RapiCredit has repaid all outstanding buybacks including default interest, resulting in the full return of principal to investors along with an attractive return of 17% p.a.

“Loans from this originator attracted investments exceeding CZK 275 million and became one of the most profitable offerings on the platform,” adds Novák. Other originators that have already repaid their debts or are actively working on repayment include Fenchurch, Huddle Capital, ARVE, and Crediface.

Regular investor updates

Bondster regularly updates information about problematic originators in the “Delayed Originators” section of its website. This gives investors a constant overview of the current situation.

What makes Bondster different?

The Bondster team is made up of experts with extensive experience in debt recovery.

“We work in an international environment where we deal with various legal frameworks and cultural differences. We cooperate with reputable law firms, regulators, and other institutions, which enables us to effectively protect our investors,” explains Novák.

A long-term commitment to investor protection

The successful recoveries from RapiCredit and other originators confirm that Bondster is a stable and reliable partner. The platform continues to actively resolve outstanding cases, with protection and recovery of investments remaining a key priority. With Bondster, your investments are in good hands.

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Author of the article: Roman Muller

Autofino is an established Lithuanian company specializing in used vehicle rentals with the option of subsequent purchase (rent2buy). Its services are primarily aimed at clients with limited access to traditional banking products – for example, individuals with income from abroad, entrepreneurs, small and medium-sized businesses, or foreigners with permanent residence in Lithuania.

The company has been operating in the market since 2018 and has since financed vehicles worth over 8.5 million EUR. It prides itself on an efficient cost structure, automated processes, and advanced risk management, which allows it to offer competitive prices while minimizing risk for investors.

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Loan investments are secured by vehicle ownership – in case of non-payment, the vehicle can be sold, which significantly reduces risk compared to unsecured loans. Autofino boasts stable financial results and a good reputation among investors, to whom it regularly pays attractive yields.

“Our mission is to provide mobility services to customers who have limited access to traditional financial services. Thanks to automation based on modern technologies, we can quickly and accurately assess creditworthiness, efficiently manage the vehicle fleet, and reduce operating costs and overall risks,” adds Rokas Ignotas, CEO of Autofino.

Autofino has long been among the most reliable providers on the Bondster platform. It is currently rated B+. All investments have so far always been properly repaid. Autofino has invested more than 2.2 million EUR on the platform. The yield of currently offered investments in euro loans is 11% p.a.

Detailed information about Autofino, including current financial statements, can be found in the Loan Providers section.

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If you invest during February 2025, you’ll receive up to 2% cashback in addition to the attractive 11% p.a. yield. Don’t wait long, the loan offer is limited!

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Spanish non-banking company Ibancar World has been operating in the market since 2014 and ranks among the most reliable providers on the Bondster platform. All investments in issued loans have been properly repaid so far. The company specializes in consumer loans secured by vehicles and guarantees buyback to investors, which ensures a higher level of certainty and security.

“We offer fair and transparent loans to people who would otherwise not have access to financing or would face discrimination. Ibancar’s loans are designed with terms and pricing that suit the needs of different types of clients,” says Alexander Melis, CEO of Ibancar World. This philosophy emphasizes the reliability and stability of the company, which not only helps borrowers but also offers attractive opportunities for investors.

Ibancar World has already invested over 493 thousand EUR through the Bondster platform. The yield of currently offered investments in euro loans is 11% p.a. The loan provider emphasizes high-quality collateral, with loans being provided up to a maximum of 70% of the pledged vehicle’s value. The vehicle used as collateral must not be older than 14 years.

Available financial statements confirm the provider’s good financial condition. Ibancar World has received an A- rating from us, which demonstrates its strong ability to meet its obligations. In Spain, this provider is among the sought-after non-banking companies, and its business is developing successfully. Detailed information about Ibancar World, including current financial statements, can be found in the Loan Providers section.

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In mid-2023, we recorded an interview with the CEO of Ibancar World for Bondster platform investors. Interested parties can play the video below. In the video settings, you can enable automatic translation of English subtitles to Czech.

Complete terms and conditions of the promotion can be found at the link HERE.

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.

Jijenge Credit has been operating in the Kenyan market since 2014 and focuses on providing online loans. In 2022, it also obtained a license from the Central Bank of Kenya, which is the main regulatory body overseeing the banking sector in the country. 

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Along with the growing number of users of modern technologies, the financial services sector is also undergoing dynamic growth. Today, the majority of Kenyans have access to online platforms that make getting a loan quick, convenient and easy. 

The loan provider Jijenge Credit mainly targets people interested in financing from the middle and upper class because many of these people have assets that they can use as loan collateral. Among its customers, there are also sole traders and companies who use the provider’s financial solutions.

By 2030, Jijenge Credit plans to increase its client base by another 50,000 and thus increase its market share. The company also aims to become a leading financial services provider in Kenya and East Africa.

The company’s CEO is Peter Macharia who has over 25 years of experience in banking. Bondster’s analyst team has assigned Jijenge Credit a B assessment.

Author of the article: Roman Muller

On the platform BONDSTER, investments in loans from over three dozen verified providers from across the world are available. The range of investment opportunities is wide and individual loans differ not only in the amount of the fixed return but also, for example, in the maturity period or the method of collateral.

There are three ways how you can select loans for your investment portfolio: manually, automatically through a preset strategy or by using a custom investment strategy. The last option offers the greatest flexibility, as you can determine yourself which loans to invest in. This strategy can be 100% tailored to your investment profile and goals.

Creating a custom strategy

We will take you step by step. First, log in to your investor account and click on the “STRATEGY” tab at the top menu of the page. 

You will see a page with a list of available strategies for investing in Czech crowns and euros. In our guide, we will focus on investing in euros, so select the EUR option. Next, you will see four strategies: the first three are preset and the last one is custom. 

You can choose a custom investment strategy by clicking the yellow “SELECT” button. Now you can start setting specific parameters of your own strategy. 

Setting up a custom strategy

The online form for setting up your own strategy contains a number of parameters. It is a good idea to fill in the “Strategy name” field on the left in the header of the strategy settings. If you have multiple strategies, the names will help you navigate through them better. 

Next, you need to fill in the target amount, which is the maximum amount you plan to invest within the strategy. You also need to choose the maximum investment in one loan. On the platform BONDSTER, one can start investing with as little as 100 Czech crowns or 5 euros. Thanks to the low minimum investment, it is possible to diversify the portfolio very thoroughly, both at the level of individual loans and providers. 

For a custom strategy, you will also need to choose whether you would like to invest in loans on the Primary or Secondary Market, which providers you are interested in and what interest rate or loan maturity you require. 

Loans can also be chosen by how they are secured (e.g. real estate, cryptocurrency, car, etc.). Loan providers may also offer the so-called buyback guarantee or allow early withdrawal from an investment. 

Don’t forget about reinvesting the principal and interest payments received

In the strategy settings, ticking the box to “Reinvest principal and interest” is very important. Once you check this option, the money credited to you is quickly reinvested, earning you additional interest on the interest earned and thus maximizing your interest income. 

The possibility of automatically diversifying the portfolio by providers is also useful. You decide for yourself what percentage of your total free funds available for investment you want to invest in loans from individual providers. 

inally, you need to save and run the created custom strategy. You can modify the set strategies at any time by pressing the “EDIT” button. 

It is also possible to create multiple strategies. Just remember that the order of the strategy in the strategy overview is very important as it determines the priority of selection (strategies are executed from top to bottom). 

Creating a model custom strategy

Now, we will show you a possible setting of a custom investment strategy. The model strategy presented here only serves as an example. In total, we will create four custom strategies.

Imagine a situation where you have three favourite loan providers. In our model case, these will be ITF Group JSC and Lendo. We will set up a separate strategy for each of them. The last, third strategy named Own Strategy is for the case when none of the above-mentioned providers have free loans to invest in.

The order of individual strategies determines their priority. In our case, loans from the provider ITF Group JSC are selected first, then loans from Lendo and only then loans that match Own Strategy are chosen.

Now, we will show you how one could set up a strategy for the provider ITF Group JSC.

Strategy for the provider ITF Group JSC

In the name of the strategy, we simply indicate the provider’s name, ITF. We set the target amount to EUR 5 000 and the maximum investment in one loan to EUR 10, for example.

From the loans issued by ITF, we select, for example, loans with an interest rate of 12 to 14 per cent, and a maximum of 36 months remaining until maturity. 

We check ITF in the list of providers. Since we are setting a strategy for selecting loans from one provider, diversification by providers does not make sense and therefore we check the NO option. 

We would like the credited principal and interest to be reinvested as soon as possible, so for “Reinvest principal and interest”, we check the YES option. 

Finally, we save the settings with the “SAVE” button. 

Similarly, we have set up strategies for the providers Alende and Lendo.

Strategies for selecting loans from multiple providers

The third strategy, which we will name Own Strategy, contains providers whose loans should be chosen automatically if there are no loans from the providers ITF and Lendo available. 

We have added four more providers to the strategy. The interest rate of loans is set up to 17%, the maturity period is a maximum of 24 months, and the provider is required to offer a loan buyback guarantee. 

Benefits of using a custom investment strategy

By setting up your own investment strategy, you can save a lot of time. Compared to manual investing, you do not have to constantly monitor the offer of loans and choose the most suitable ones for you, and if necessary, you can modify or cancel the settings of individual custom strategies at any time.  

Autor of the article: Roman Muller

Loan2go was founded in the Czech Republic in 2019 as part of the international Lidya Inc. group based in the United States. In February 2020, it started providing loans on the Czech market under the name Lidya Czech Republic. It specializes in short-term operating financing of small to medium-sized companies and sole traders. 

The goal of Loan2go is to quickly and easily finance the growth of their business by helping them cover their operating expenses. The company does not finance long-term investments, nor does it provide financing to consumers. In 2022, the company was taken over by Czech investors and continues to develop its business strategy under the new name Loan2go. 

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So far, the company has provided over 2,000 loans with a total volume exceeding 500 million Czech crowns. Loan2go scoring differs from the traditional banking model primarily in that it is based on an analysis of the applicant’s current cash flow. The company’s own digital platform enables it to assess applicants’ financial situation quickly and easily. Preparing a loan offer, which normally takes days, if not weeks in banks, takes only a few minutes with Loan2go. 

Loan2go then verifies the financial situation of the loan applicant by looking at the Non-Bank Register of Client Information which it is a member of. By using this approach, the company manages to keep the default rate below 1% while finding enough quality companies that, although well-managed, are usually unsuccessful with banks as they have, for example, a short history or young owners, a non-traditional business model, or cannot provide the guarantees banks demand.

Loan2go only requires bank statements for at least the last 3 months to assess a loan application. Signing the loan agreement and disbursing the funds takes place completely online, which allows the Prague office to provide financing to companies anywhere in the Czech Republic. 

What companies appreciate about Loan2go is the simplicity of application, free and non-binding financing offer, flexible early repayment and the possibility of obtaining loan funds within 24 hours. Entrepreneurs also welcome the time saved since there is no need to visit the company’s office. 

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Financing from Loan2go is primarily used by companies operating in transportation, logistics, services, wholesale and retail, including e-commerce. They use these loans to finance, for example, the purchase of stock, bridging the payment period of their invoices (which is often up to 90 days), their marketing expenses or the purchase of materials to carry out an order.

For 2023, the average amount of loans granted so far has been around 350,000 Czech crowns, with the terms of usually 30, 60 or 90 days. The short maturity allows Loan2go to respond very quickly to changes in the external environment (e.g. rising energy prices, war conflict, changes in interest rates, inflation, etc.) and to take these changes into account when assessing applications for financing and setting loan terms.

Investing in Loan2go loans will be attractive to investors who have a short investment horizon and prefer diversification between consumer and corporate loans. 

Since the very beginning, the company has been led by Libor Vaníček, who has over 25 years of experience in management positions in banking and insurance.

Bondster’s analyst team has assigned Loan2go a B- Bewertung. 

Author of the article: Roman Muller

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