Grupeer open day- Answers

Dear P2P investment community, Grupeer is implementing many new initiatives regarding our transparency and improving how we function. So, to show that we are open than ever we invited our followers yesterday, on 19th of February, in social networks to leave a question they want to hear an answer to. Below are the questions we received on our twitter,  facebook, and instagram with our honest answers. Enjoy!

Free €10 (no deposit needed)

Thank you for your comment, sometimes Grupeer has special promotions and you can get a welcome bonus. Now, 10 EUR welcome bonus is added to those investors, who were invited via Grupeer internal referral program.

When the option of some graphics&statistic will be implemented, so the investors could filter their investments by type of loan, by country, % interest rate, etc. (Cuánto habrá la opción de gráficos y estadísticas que ilustren nuestras inversiones -tipo de préstamos, por países, % interés, etc-? Gracias.)

More statistics is coming in the updated Investor’s cabinet, in coming weeks.

Any plans for extended reports? The current ‘My investment report misses some important fields like the next payment date and the next payment amount

These improvements will be included in the next investor’s cabinet update.

Why Grupeer doesn’t have 2-step verification?

2-step verification will be launched in a few weeks.

Thanks for this opportunity, I wish you improve the structure and the quality of the contract for each subscribed loan. It seems to me that any loan has a single contract, copy and paste, with Finsputnik only, where even the contract number do not match with loan number.

Thank you for your suggestion, we have passed this information to our legal department.

I am looking for spreading the risk with strong diversification of loan originators. However, your website is not really full of information about LO. From my information, Epic Cash and Lion Lender are just another name of PlanetaCash in Spb. Finsputnik is also strongly connected with SPB. I am not saying is good or bad, just not clear enough because, in such case, it is just one source of risk for me, while when I invested, I was sure that I was dividing into 4 different LO, not just one with different names.

Hello, Finsputnik is a Latvian company, owned by Grupeer’s founder Alla Kisika. Planeta Cash, EpicCash, Lion Lender and Monetria are Russian companies. They are in the same business, focusing on different client groups and segments.

Hey! What about the secondary market? Thanks

What is your most accurate forecast for the launch of the secondary market? I mean, is there a date that you can tell us that it will absolutely be ready? For example: “on the **/**/**** it Will definitely be ready, but we are aiming to launch it three months earlier than that”. Something like that. Thank you!

The secondary market is still our priority and it will be launched in summer 2020, wait for the updates.

You moved to Ireland from Latvia because of regulatory reasons. Could you name what’s so different between those two markets?

Ireland is known as a global Fintech hub. Innovation requires peers and an ecosystem of like-minded companies. Ireland has introduced many measures to promote the development of Fintech, paytech and other sectors.

Ireland Enterprise is the Irish Government’s trade and innovation agency, which promotes the development of disruptive and innovative companies like Grupeer. Ireland offers guidance and also open to discussions and development of new regulations, which are required to accommodate the innovative solutions and products.

Are you actually profitable? As the user of your platform, it is important to know that to measure risks.

Grupeer is not profitable yet. The platform was life in February 2017 and in the beginning, there was a limited amount of investments available, as well as the number of investors. Hence, the income statement for 2017 shows a rather small turnover of Eur 41,082. Grupeer is solely the marketplace – where investors can buy claim rights on previously issued loans. So, our turnover is the commission. In the end of 2018, the picture changed dramatically- the turnover has increased a whopping 1400%. This is explained by the rapid growth in the investments and overall expansion of Grupeer.

The profitability is not a measure of risk, as many start-ups live on loss for many years. The positive profit is important for the seed investors, not the users of the platform, as the money and risks are managed separately.

How do you view upcoming EU regulation on p2p platforms?

Grupeer is sure that the license is required to increase investors’ trust. The other reason is that the license might help to swap dishonest players out of the market.

Since there is no recognized p2p license at the moment, Grupeers wants the Financial Regulator to implement p2p regulation as soon as possible. We want to work together with the Regulator, communicate and carry out all operations in accordance with the legal requirements. While the regulation is not implemented, Grupeer is exploring the options of other licensing that could fit the type of business we hold.

You have a new process in place when withdrawing money. This suggests that each withdrawal is manually checked. Hence, we as investors are dependent on the approval. It also says this is processed within 2 days, while it’s not. I have been trying for the last couple of days.

  • Why is this?
  • Why don’t we see the pending request in the account statement?
  • Why is the money still on my balance?
  • Why is it taking so long to get approval?

The reason you can’t see the change in your balance is because the system error changed your status to “unconfirmed” client. We have fixed the error. If you have trouble like this again, you should contact our support at [email protected]

Will audited financial statements be released, both for Grupeer and Finsputnik?

Grupeer plans to publish the financial statements of loan originators in April this year. We do not plan to publish Audited statements, as this is not required by the regulator.

  • Do you plan to clarify the relationship between Grupeer and Finsputnik? On Grupeer’s website, it looks like an independent loan originator, but in fact, it’s owned by Grupeer’s Alla Kisika.
  • Finally, on the same topic, what’s the relationship between Finsputnik (as a LO) and the software provider with the same name and logo? All this is very confusing.

Sure, we are rebuilding our website at the moment and will make the relationship between Finsputnik and Grupeer clearer for our investors. Finsputnik software provider was thought to be p2p white label solution, the project we were working on last year.

How come there hasn’t been any delayed loan? It seems a bit suspicious based on a large number of projects on the platform.

Grupeer operates a slightly different business model than some other platforms offering loans for investment. The individual personal loans have a high default probability, so we put the “bundle” of personal loans grouped together. Our SPV, Finsputnik gives a loan to the loan originator and the microfinancing organization handles the defaults internally without passing them to our clients.

Do you plan to add more loan originators in 2020?

Yes, of course, we aim to add plenty of new Loan originators, from new geographies, so stay tuned! New LOs are coming shortly

Do you plan to launch a mobile app? Any plan to make an app for Android?

We are not planning to launch a mobile app, we are working on improving the mobile version of our website.

I know it is really hard giving a deadline on functionality, but what does the roadmap say in terms of date for the statistics? I would really like to see how my split is over LOs in an easy way.

In the coming weeks, there will be long-awaited updates.

How big a percentage of the current Grupeer loan book is Finsputnik? The same question for development loans.

Finsputnik- 17%, Development projects- 26% as of 20th of February 2020.



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