Unfortunately, COVID-19 pandemics created turmoil in numerous markets. In addition to the global crisis, we faced some dishonest attitude and malpractice from some of our cooperation partners. We are actively cooperating with state institutions, as well as we have legally demanded refunds from our cooperation partners. Unfortunately, the process is not going as fast as we might expect, but we feel positive indications, because the truth is on our side. We have now renewed the company's economic activity, which is also a step towards resolving the situation. (08.06.2021)

Yes, of course, such information is fixed for each investor. As each transaction is individual, we will also deal with it individually as soon as such an opportunity is found. (08.06.2021)

After optimizing the internal process, we have significantly reduced our costs with an aim to speed up the ability to resolve the situation. We collaborate with a legal team for an effective legal strategy to help recover funds. We see outsourcing as a cost-efficient step of our strategy.(08.06.2021)

The bank account was blocked as a result of decision of the SRS of the Republic of Latvia, but we are taking all required actions to unblock the account, as it is essential for the next steps of our recovery strategy.(08.06.2021)

The COVID-19 pandemic created changes in many business sectors, including related sectors. In addition to the global crisis, we faced some dishonest attitude and malpractice from some of our cooperation partners. We have implemented legal actions to protect the interests of our investors. Unfortunately, they are time consuming. From our side we are taking all the necessary steps to protect investors.(08.06.2021)

We have made every effort to get your money back. Unfortunately, we found ourselves in an absurd situation - some borrowers were ready to return the money, but due to non-existent bank accounts and the suspended economic activity by the SRS of the Republic of Latvia, we could not receive or make payments. Some borrowers are in difficulty and unable to meet their obligations, while some borrowers took advantage of the situation and refused to meet their obligations to lenders. Currently, business activity has resumed, we are working to unblock the account. (08.06.2021)

The main goal for us is to act in the interests of our investors, hence we are actively working to implement the step-by-step plan to recover the funds. We work within the legal framework, unfortunately, the process is time consuming. (08.06.2021)

Investments are related to various degrees of risk; we have always worked with an aim to find the most suitable solutions for investors. And till certain times many had chance to enjoy fruits of their investments. The current situation is a result of several cataclysms, and we are working to overcome them. (08.06.2021)

Yes, that is a part of responsible and ethical business attitude in this sector – to ask potential investors not to overexpose them to risks and act responsibly in their own best interests. (08.06.2021)

We are ready to cooperate with legal experts, legislators to strengthen legal framework of our industry, sharing our experience in various markets. There is so much still to do at the EU and national level in order to avoid similar situations from happening and to eliminate dishonest business practices from cooperation partners in particular sector. (08.06.2021)

Please, email us at [email protected]. (08.06.2021)

Please, follow our blog on this website. (08.06.2021)

Recollecta is a specialized debt collection firm established by three experienced litigators. Each of them has at least 20 years of experience in litigation and, in particular, international debt collection. The corporate form of Recollecta allows for more flexibility in the debt collection procedures in comparison to traditional law firms. For instance, Latvian law firms cannot act on exclusively success – fee basis, finance collection proceedings from their own funds (thereby financing the relevant client) etc. The corporate form of Recollecta allows for maximum flexibility to meet the needs of its clients. In addition, the corporate form of Recollecta allows to provide additional services, which typically are not provided by law firms – restructuring, refinancing and other services outside the scope of traditional legal services. In addition to outstanding litigation and debt collection experience, the members of Recollecta will be able to ensure also a neutral and objective attitude towards any of the involved parties, including parties that have or may have any form of ties with Grupeer. This pattern of debt collection was used by several banks during the last real estate crisis to ensure that none of the debtors receive any preferential treatment. (31.08.2020)

Yes, as it is stipulated in the agreement between investor and Grupeer. (31.08.2020)

All questions about the amount received should be addressed to Grupeer, also all information about payments will be available in the investor’s cabinet just like now. The purpose of Recollecta is to ensure debt collection and administer repayments. (31.08.2020)

Please visit the company’s web page www.recollecta.eu to learn about the company and their contact information, however, all communication with investors will be maintained by Grupeer. (31.08.2020)

The debt collection process will vary as per each company, as their financial status might be different. As soon as we will have more information, we shall publish it in the investor’s cabinet. (31.08.2020)

We will do everything in our power to ensure debt collection to the fullest. Having said that, P2P investments provide higher yield, as well as they are associated with a higher risk level than any traditional investment tools. Grupeer can due utmost to ensure due diligence of the loan originators before we publish their projects on our platform for investors to choose, however, we cannot be responsible for their [loan originator] business model and business success. Thus, if Recollecta will exhaust its legal options and tools to collect the debt, it is possible that they will not be able to recover some part of the investment. (31.08.2020)

'Planeta Cash' initial plan was to expand in Russian microlending market, for more efficient communication it created several companies and sub brands meant for specific audiences. 'Monetria' launch was planned for March 2020, 'Epic Cash' launch was planned in Autumn 2020, while 'Lion Lender' - end of 2020, after all companies would receive their license, and full investments. Due to the market situation caused by the health crisis, as well as Grupeer’s reputation crisis - both of the projects were underfinanced, thus unsuccessful. Currently, loan originators are working on the best possible exit for investors. We will keep you updated. (03.07.2020)

COVID-19 crisis had a wide impact on the financial health of several loan originators. Currently, our priority is to find a solution to ensure repayments. If that will not be possible then we will negotiate how the buy back guarantee will be executed. (03.07.2020)

All investments are related to various degrees of the risk, and Grupeer cannot be held responsible for loan originator business models and financial success, as investment choice is solely made by the investor. However, we want to do everything that depends on us to find the best solutions for investors. (03.07.2020)

This particular group of loan originators has faced financial difficulties and they are still seeking for their course of action legal and financial to carry out their financial liabilities with investors. We have agreed that we are going to receive them till 20th of July. (03.07.2020)

We are waiting for all KYC questionnaires to be updated to renew the operations of our bank accounts. As soon as it is done, we will be able to transfer funds according to the crisis overcome plan. (03.07.2020)

We will update information on each loan originator group gradually, we will inform investors about it individually. (03.07.2020)

We’ll update this information on July, 3. (03.07.2020)

In accordance with bank requirements to reactivate the accounts and to ensure payments to investors, Grupeer needs updated information for Know Your Client (KYC) information. To ensure the payments to investors It is also required by the banks to renew operations of our accounts, so we can ensure payments to the investors. We are currently improving the Grupeer’s platform to make it a transparent system which includes observing Anti Money Laundering (AML) and Know Your Client (KYC) policies effective in the European Union (EU) or other markets we are operating in. Within past year banks have changed and tightened their AML / KYC procedures, which is why legal counsels have updated Grupeer's AML policy and within that scope also KYC. It is also required by the banks to renew operations of our accounts, so we can ensure payments to the investors. (03.07.2020)

There has been a request to submit KYC in the Investor's cabinet always, because without it one could not make further investments or withdraw deposits. As there were no technical restrictions in the system that would prevent further access before completing the KYC questionnaire, that led to the situation where part of the client's ignored the request and omitted the KYC. As we received reproach from the banks regarding this matter, we carried out an audit and found out that the share of investors that have not submitted KYC questionnaire is high, which is why we have upgraded our system, updated AML & KYC procedures in accordance with current requirements. We kindly ask to fill out and submit the questionnaire, which is in the interest of everyone, so we can renew payments. (03.07.2020)

AML / KYC compliance is required by the banks to renew operations of our accounts, so we can ensure payments to the investors. If you don't provide KYC information, unfortunately, we might face difficulties to ensure repayment of your deposit. (03.07.2020)

Please contact us by writing [email protected], request the note and we will send you that. (03.07.2020)

We have deactivated the button, as at this point unfortunately withdrawals are not available because Grupeer’s bank accounts are frozen, and some of the loan originators are facing issues caused by COVID-19. We will inform you about the next steps regarding your withdrawals in June. We are communicating with banks directly to resolve the issue, as well as carrying out portfolio performance audit, strengthening risk & AML policies. (03.07.2020)

At this point unfortunately withdrawals are not available as Grupeer’s bank accounts are frozen, and some of the loan originators are facing issues caused by COVID-19. We are communicating with banks directly to resolve the issue, as well as carrying out portfolio performance audit, strengthening risk & AML policies. We will update our investors about withdrawal options in June. (03.07.2020)

It could happen because Grupeer's bank accounts are frozen. Please check your personal account to make sure, whether your bank has returned the transfer. If your transfer has not been returned, please contact us by writing to [email protected] and provide us payment details. We will check the information according to our internal finance analyses system, and update the balance in your investor’s cabinet accordingly if we have received the transfer. (03.07.2020)

We are kindly informing you that we have resolved technical issues regarding balance status in the Investor’s cabinet. In the next 3 days the Finance and IT will restore balance information that was effective on March 31st, 2020. The investors who tried to withdraw financial means from their Grupeer’s account after 31st of March might have experienced the issue. It was caused by the error with a link from Grupeer platform systems to financial tools and bank accounts, which are frozen. In the next few days we will restore information of the balance status that was effective till 31st of March, 2020. However, for the projects that have been completed after March 31st, 2020 full calculations and procedure of withdrawals will be available in June along with the action plan for the investors. (03.07.2020)

Please send us a bank statement/receipt where we will be able to see your name and new IBAN number. We will register it for you. (03.07.2020)

We have restored balance status up to date on 31.03.2020. However, for the projects that have been completed or interest rate that should have been calculated after 31st of March full information and procedure of withdrawals will be available in June along with the action plan for the investors. (03.07.2020)

As of the end of March we have conducted rigorous internal cost-cutting, which includes development, marketing and office costs, we also substituted employees with outsourcing to ensure core functions. As of the end of April we began a portfolio performance audit to determine best options for our investors, as well as loan originators. Performance audit includes - risk analyses, finance audit, AML improvement, loan originator financial health check & debt control, discussing recovery options with those who have issues. In June we will announce an action plan for repayment of investments. (03.07.2020)

We can answer only for ourselves. Our current business model was fit for fast growth, our plan was to introduce several measures for stabilization such as become a licensed investment broker company, launch secondary market and risk accruals, which we did not manage to do before the crisis started. In perspective, it would allow us to leverage this situation. (03.07.2020)

Currently, we have conducted rigorous internal cost-cutting, carrying out a portfolio performance audit and we will publish an action plan for our investors in June.

We believe that our previous results show our ability to carry out our promises. Our investor base was stable - 42% of all the registered investors made more than 1 investment, and 33% made more than one deposit. From 2017 till 2020 in total we have repaid 32M euros, which includes 4.4M euros of interest payments. (03.07.2020)

Grupeer as a platform within the last year has grown tremendously, and this is the first time that we find ourselves in such a situation. Our failure to communicate was because we were focused on finding a solution for the situation, as well as in March we cut our staff tremendously, thus some processes became slower. Currently our focus lies in completing the portfolio performance audit and creating a viable action plan based in the interests of investors. We intend to announce it in June. (03.07.2020)

Currently, Grupeer’s bank accounts are frozen, we are doing everything in our power to resolve the situation, and we will update you about the situation as soon as we have information but not later as June.

In this situation, several aspects have collided - two Estonian P2P platform collapses caused market uncertainty,  which is why banks strengthened their AML requirements for P2P business, including us. Also, COVID-19 caused foreign currency, especially Russian and Belorssuain rouble, internal protection measures in some regions.

Grupeer as a platform within the last year has grown tremendously, and this is the first time that we find ourselves in such a situation. Our failure to provide timely and sufficient communication to our investors, caused chaos and that caused an avalanche, which is why banks froze our accounts. Now we are addressing this issue with banks directly. Amongst other things, we also have conducted rigorous internal cost-cutting, carrying out portfolio performance audit and we will publish an investor action plan in June. (03.07.2020)

Currently Grupeer’s bank accounts are temporarily frozen and some loan originators faced the difficulties caused by COVID-19, we are doing everything in our power to resolve the situation, and we will update you about the situation as soon as we have information but not later as June.

Our goal is to settle in the best possible way with our investors, thus currently we are conducting a portfolio audit, and we will announce an action plan for investors in June. (03.07.2020)

No, the choice of investment is solely yours. Currently your withdrawal is pending because Grupeer’s bank accounts are frozen. We are doing everything in our power to resolve the situation, and we will update you about the situation as soon as we have information but not later as June.

Currently, several aspects have collided - two Estonian P2P platform collapse caused market uncertainty,  which is why banks strengthened their AML requirements for P2P business, including us. Also, COVID-19 caused foreign currency, especially Russian and Belorssuain rouble, internal protection measures in some regions.

Grupeer as a platform within the last year has grown tremendously, and this is the first time that we find ourselves in such a situation. Our failure to provide timely and sufficient communication to our investors caused chaos and that caused an avalanche, which is why banks froze our accounts. Now we are addressing this issue with banks directly. Amongst other things, we also have conducted rigorous internal cost-cutting, carrying out portfolio performance audit and we will publish an investor action plan in June. (03.07.2020)

Exercise of the BuyBack guarantee is directly linked to and ensured by the ultimate loan originator. Our ability to facilitate this process is limited at least until the time above bank account and loan repayment issues have been resolved to satisfactory extent. (03.07.2020)

FinTech is a new industry, where development happens faster than its legal framework. However, at the core of our business lies the interests of investors and partners, thus we base our work on best practiсe of the industry, AML & risk requirements, other regulations required to observe consumer rights & best business practices. Current situation is a collision of several aspects. Two Estonian P2P platform collapse caused market uncertainty,  which is why banks strengthened their AML requirements for P2P business, including us. Also, COVID-19 caused foreign currency, especially Russian and Belorssuain rouble, internal protection measures in some regions.

Grupeer as a platform within last year had grown tremendously, and this was the first time that we found ourselves in such a situation. Our failure to provide timely and sufficient communication to our investors caused chaos and that caused an avalanche, why banks froze our accounts. Now we are addressing this issue with banks directly. Amongst other things, we also have conducted rigorous internal cost-cutting, carrying out portfolio performance audit and we will publish an investor action plan in June. (03.07.2020)

During these volatile times, our main priority is to recover from the crisis in the best way possible for our current investors. Currently, we are focusing on our existing liabilities before taking on new ones. (03.07.2020)

We are currently carrying out a portfolio performance audit, and we will share this update in June with our investors. (03.07.2020)

Grupeer pays special attention to the due diligence procedure, because our priority is the safety of investors. More than 70% of all loan originators that apply to Grupeer are rejected, because they did not meet our requirements.

Due diligence consists of several steps: first of all, we check the legal structure, AML, then we monitor beneficiaries, examine the financial statements and the client’s portfolio volume. After that the audited annual report is checked. In case the audited report is not available, Grupeer’s representatives visit the loan originator for an additional check. And finally, all loan originators pass the special questionnaire.

All this information is a base for Grupeer’s internal scoring. Rating scoring model analyzes 30 different criteria, which can affect overall risk level. So, after this strict procedure we can be sure that the loans offered to our investors come from reliable loan originators. (03.07.2020)

Updated due diligence procedure involves a mandatory visit to our new loan originators. We want to point that out, earlier the visit was optional. So, Grupeer representatives visit all loan originators at the moment when the cooperation agreement is signed. Further we carefully monitor our partners’ business activity and if we notice any red flags, Grupeer’s representatives might go to visit and check the loan originator.(03.07.2020)

We have analysed the situation. When it comes to Northcon Norge - its investment project was published on Grupeer’s platform too fast, thus breaching internal procedure. We had performed all required due diligence procedures, while bilateral approval of agreement was pending. We shall remove the investment projects from our site immediately, and we will return financial means to this project investors in the same procedure as to anyone else who had deposited money in Grupeer platform. Our apologies for the inconvenience.

When it comes to “Dziesiatka Finance” we believe it is a misunderstanding due to legal formalities, as “Dziesiatka Finance” has agreement with Grupeer’s partner - “Finsputnik”, which uses Grupeer platform to publish their investment projects. We are communicating with “Dziesiatka Finance” in order to clear up the misunderstanding and agree on further next steps.

We are also aware that loan originator “Ibancar” has expressed doubts about the stability of the Grupeer, because they received back the bank transaction intended for Grupeer. Currently Grupeer bank accounts are frozen, we are doing everything in our power to resolve the situation, and we will update you about the situation as soon as we have information but not later as June, as well as we will communicate this fact to all our loan originators. We would like to reassure that we are committed to resolve the situation in the best way for our investors. (03.07.2020)

Yes, we have. The reasons for ceasing cooperation can vary but our TOP priority is to protect interests with our investors. We always have shared this information on our blog. For example, last November Grupeer terminated loans offered by Monify JSC. Companies came to this decision when Monify decided to change its strategic business plan. Grupeer has terminated cooperation with the Russian loan originator Kviku. The company went through a severe due diligence process, we were excited by their business model too. The only reason for us to stop Kviku’s loans was the lack of interest from our investors.(03.07.2020)

Grupeer platform is an electronic trading place that provides an opportunity to invest your free funds in secured loans. The services offered by the Platform are the servicing of claim right acquisition deals, i.e. the Platform brings together two independent participants of the deal – the seller of the claim rights (credit company or investment company) and their buyer.(03.07.2020)

It is a unique combination of capital letters ID and numbers assigned by the Platform to the user at the time of registration and allowing to identify him or her during the implementation of any transactions through the Platform. The identification number must be indicated each time when making a wire transfer to Platform bank account.(03.07.2020)

Yes, in accordance with AML legal regulation information on the origin of funds of our clients shall be obtained. The clients shall provide this information during identification process in their profiles. The detailed information on this procedure is available for the clients in the Terms of Use and the AML Policy on the website.(03.07.2020)

Posting account is an individual accounting system that provides the user with a service for accounting the deals closed using the Platform. Posting account is not an individual stand-alone account in the terms of banking services or payment system services. (03.07.2020)

The Platform requires the documents and information from its clients for their identification in accordance with the Terms of Use and the AML Policy. The requirements are based on the AML legal regulation in order to prevent money laundering and terrorism financing.

The list of the documents to be submitted and the detailed identification procedure is included in the Terms of Use placed on our website and binding for all our clients. It is also available on the identification page in the client's profile. Some of the documents are compulsory, some have to be submitted additionally only on separate request of the Platform.

The Platform keeps and processes the personal data of the clients in accordance with our Personal Data Protection Policy.(03.07.2020)

If you forgot your password, you have the option to restore it via the Platform homepage by making an appropriate request. A new (temporary) password will be sent to your email. For security reasons, we strongly recommend that you immediately use the temporary password and change it.(03.07.2020)

Yes, you can additionally secure your investor's account with two-factor authentication (Google Authenticator). More detailed information about 2FA is available in our blog.(03.07.2020)

Email us at [email protected]. Grupeer Support team makes every effort to respond to user requests as soon as possible. If your question is highly specialized, legal or financial, Grupeer Support team can forward it to the appropriate specialist of the company to provide quality and comprehensive information. In this case, it may take several days for the answer to be received.(03.07.2020)