Lenndy

Edited on 30/10/2021 / Total invested: 783€

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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
  • Since July they have not met their monthly payment commitment

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% p.a.
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

29/07/2021Lenndy publishes the audit of First Finance and the financial statements of Giantus. Nothing out of the expected
16/05/2021Both Giantus and First Finance have established a monthly payment schedule until March 2024, with no interest repayments
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