Wanted to do a quick post updating you on Viventor and their biggest loan originator Atlantis Financiers.
I have started gradually reducing my exposure on different crowdlening platforms since late March 2020. This was done with various success.
However, one which has been particularly full of coincidental eyebrow raising cases is Viventor.
Without speculating further just wanted to show some figures of my own experience.
Back in 15th of Jan 2020 I invested 1000 EUR in Viventor. By now all loans have reached their maturity date, however, I still have 411.35 EUR not transferrable to my account.
My actual XIRR does not quite correspond to the one calculated by platform (14.97% vs 12.36% [as of Nov 2020]).
Further strategy and rating update
I will not put my loans on sell with extreme discounts – at this stage I want to wait for things to turn around. However, I can not recommend this platform for beginners in crowdlending. Updated their rating and put “N/A” for Buyback guarantee due to the current situation.
Viventor is giving an “A” rating for by far largest loan originator Atlantis Financiers which is not able to deliver. In my opinion mildly put – misleading.
Both Atlantis Financiers and Viventor belong to the same group. Now Viventor mentioned that they will make a proposal to settle the outstanding loans of Atlantis Financiers with a significant discount. In my opinion a big scam…
Interesting fact: The group who owns Viventor and Atlantis Financiers are now trying to buy other loan originators in trouble… So with your invested money they buy other companies, and you will suffer a loss becaus they can’t pay you back and you receive a proposal to settle for a significant discount. Good business model!
In the meantime Twinero & Presto loans were defaulted and paid back only for 20% (yes, lost 80% of the original investment). I am afraid the same offer will be agreed for Atlantis Financiers.