Grupeer was one of our favourite P2P platforms but seems to have been misleading us together with many other investors.  Grupeer has suspended all payments to investors and is currently facing serious accusations about the legitimacy of their loan originators (Monetria, Lion Lender, Epic Cash).

Latest developments around Grupeer

• Grupeer’s loan originator Finsputnik stopped offering the buyback guarantee.
• Grupeer has recenty changes their banking providers without much explanation. (Envestio and Monethera showed similar behavior before shutting down.)
• According to testimonials and LinkedIn updates, Grupeer has laid off several staff members in the recent days.
• Issues with withdrawals and late payments are increasing.
• Investors exposed the Promenada Project as a fake.
• On the 31/03/2020 Grupeer suspended all payments to investors. Grupeer is blaming the declaration of an emergency state in the European Union.
• In a statement from 13/4/2020, published on Grupeer’s blog, the platform refers to its terms and conditions that allow extending the loan repayment schedule at any time. This statement does not address any critical question. It looks like Grupeer is trying to defend themselves legally.
• On the 14/4/2020, DYNINNO Financial Techologies, one of the loan originators on Grupeer, published a statement in the Grupeer Fellows group, where the company ensures investors that they are able to repay any outstanding debt. Unfortunately, it appears like Grupeer isn’t communicating with its loan originators either.

What you can do?

• Download your account statement since you have joined Grupeer: https://www.grupeer.com/account-statement
• Download the excel list of all your investments: https://www.grupeer.com/my-investments (there is a “download button” under the filter options)
• Download every loan agreement: https://www.grupeer.com/my-investments (download all PDF files manually or in bulk with the Chrome extension simple mass downloader)
• Take a screenshot of your profile page: https://www.grupeer.com/identification
• Take a screenshot of your deposit page where it shows your investor ID: https://www.grupeer.com/deposits
• Download the overview of your current account status: https://www.grupeer.com/overview
• Download the Grupeer site to your local folder so you can view all the information offline. You can use any software. Website copier from https://www.httrack.com/ can be downloaded for free.
• Join the Telegram group (currently over 2,000 investors have joined) to coordinate next legal steps

What you should not be doing?

• Harassing and threatening employees of Grupeer or their family members
• Collaborating individually with anyone who promises a quick resolution of this case

Links to further resources:

• Latvian police
• Latvian consumer protection
• Latvian financial inspection
• Ireland’s national police and security service

We do not suggest registering or investing at the platform until this situation is resolved.