Regular updates on loan originators

Regular updates on loan originators

August 25, 2022 Announcements | For investors

Kviku

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.


Lime Zaim

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

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

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

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.


RapiCredit

September 21, 2022

Dear Investors,

We would like to update you on the current situation regarding the buyback guarantee from the loan originator RapiCredit.

As we have previously informed you, the issues with buybacks have occurred for some investors due to a technical error. In the internal system, even loans that RapiCredit’s clients paid properly and on time were incorrectly marked for buybacks.

While the technical problems were being resolved, we proceeded to manual payment of buybacks after agreement with the provider. Over the last three months, RapiCredit has paid out more than CZK 30 million (EUR 1.2 million) on buybacks to investors.

Since 2020, RapiCredit has provided more than CZK 275 million (EUR 11.2 million) in loans to investors through the Bondster platform.

We are currently negotiating with RapiCredit to pay all outstanding buybacks by the end of October this year at the latest.

RapiCredit’s rating was downgraded from A- to B+ during the last quarterly financial data review. Our risk department took this step considering the current situation with the payment of buybacks. On the contrary, financial and portfolio data confirmed the A- rating.

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

July 13, 2022

Dear Investors,

We would like to inform you about the current situation regarding the loan provider RapiCredit. We are communicating actively with the provider while working together on the manual payment of buybacks. We expect the situation resulting from technical problems to be resolved in the coming weeks. According to the official statement of the RapiCredit company we received, the provider is in good financial condition. In the first half of 2022, the provider saw an increase in loans granted by 58.5% compared to the first half of 2021. Since May 2022, RapiCredit’s operating income has grown by 89.2%, EBITDA by 178.5%, and equity increased by 100%.

Both Bondster and RapiCredit believe the situation will be resolved as soon as possible and that we will continue to grow together.

June 7, 2022

Dear Investors,

We would like to inform you about the recent situation regarding the loan provider RapiCredit. Due to technical problems between RapiCredit and Bondster, buybacks have been delayed.

We are actively trying to resolve the situation with RapiCredit, and as of May 31, 2022, all buybacks were made manually. Your investments earned interest for the whole period according to their specific conditions. This week, RapiCredit representatives visited us in Prague in person, so that we could work on resolving the situation as quickly as possible. Therefore, if there is a delay in buybacks made by RapiCredit in the following days, the situation will be once again resolved by making manual buybacks.


SpeedCash

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.


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