Lenndy

Edited on 31/03/2021 / Total invested: 812€

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PROS

  • A new secondary market has been launched, but thousands of projects are piling up that no buyers are interested in.

CONS

  • No repayment of loans and interest since early February
  • Investors are not convinced by their statements
  • Selling on the secondary market carries a 5% commission for the seller

MY EXPERIENCE

  • They have lost investor confidence since the suspension of originator First Finance at the end of January
  • Other originators are also failing to meet their commitments
  • These are reasons to withdraw my entire portfolio as soon as possible, but without resorting to the secondary market for now

LENNDY General Features

Country of originLatvia
Year founded2016
GuaranteesBuyback and some originators also collateral (vehicles, etc.)
AutoinvestYES
Secondary marketYES, from 2 February 2020
min-max investmentFrom 10€. No upper limit
Return estimated12-15% anual
Investment periods1-60 months
Support rating5 / 10
Official supervisionOnly Giantus Finance by the Bank of Lithuania, but not Giantus Pozyczki, First Finance or Simplefin

LENNDY Latest News

18/03/2021Lenndy ceases to issue Buyback projects and manages those prior to this date in the portfolios of each originator. Payment schedule expected in early April
12/02/2021They are negotiating terms to buy back First Finance loans with Buyback from each originator to avoid losses to investors.
The audit of First Finance has been launched and its report will be presented at the end of April. Estimated €1.7 million in troubled loans
02/02/2021Launch their secondary market. Each sale carries a 5% commission