Last updated 11 March 2022
Important update due to Ukraine / Russia situation
Peerberry has two main lending groups that operate on it – Aventus Group and GoFingo. Both companies now unfortunately face considerable challenges due to the outbreak of war in Ukraine and the sanctions that have been placed onto Russia.
The Aventus Group CEO, Andrejus Trofimovas has published an important statement about the situation here. Peerberry has also been publishing other updates about the impact of the conflict on its blog.
Both lenders have lending companies operating in Ukraine, and Aventus Group also has lending operations in Russia. The conflict is creating multiple problems for the lending groups. In addition to safety risks for the employees, there is also clear financial damage caused too. This includes the inability to collect repayments from borrowers, significant (unhedged or underhedged) currency value declines, Russian bans on purchase of foreign currency, and various sanction measures imposed on Russia and its banking system.
Given the high degree of uncertainty about the impact of the conflict on each lending group we are forced to temporarily suspend ratings for the loan originators operating on Peerberry. We are also removing the financial summaries as they may no longer reflect the true current position of each lending group.
We hope that the lending groups, and the Peerberry platform itself will be able to survive the challenges ahead, and wish them well.