Dear investors, Grupeer is constantly searching for the best deals for our investors to earn stable passive income. We are interested not only in the high-interest rate and low default rates, but also how the offered investment deals are fitting in the overall portfolio, and the diversification it offers. According to the latest survey conducted by Grupeer this is what our clients value the most about us.
Besides that, we are listening to the feedback by our customers and trying to readjust our loan portfolio to fit their demands. Our investors have shown little demand for loan deals by the loan originator Kviku from Russia. Despite being an innovative fintech company from Russia, their offered loan deals didn’t get attention from Grupeer customers. Kviku was launched on Grupeer platform in February 2019, their core products were POS (point of sale) loans. Kviku has provided us all information, required by our due diligence team and have passed the necessary checks. Personally, we were excited by their business model and the track record of the management, but we are prioritizing the opinion of our investors first. The situation at Kviku did not change, however, we are saying goodbye to this loan originator, as our customers are not interested in the e-commerce deals from Russia for the offered investment yield.
It is in our business and financial interests to place the loan deals that are sold out in a certain period of time. All investors, who already invested in Kviku will receive their principal back including the accrued interest by the end of July 2019.
Once again, we want to reiterate that the interest of our customers is our top priority. We are modernizing our platform to become more intuitive, to offer advanced functionality and to offer only lucrative deals to our investors. Removing loan originator whose loan deals are not demanded by our investors, is a step in the direction of improving our investment offerings.