I was pretty shocked to see that the Target Average Default Rate for the 2019 cohort on the stats page now shows as 15% (used to be 10%).
I'm not sure when this happened, but surely such a change should have been communicated to lenders. More poor form from FO, IMO.
Interestingly, they haven't bothered to update the explanatory text below the stats, which still says 10%.
I'm getting a distinct feeling that this platform is not in good shape.
I'm an equity investor in AxiaFunder and a minor equity investor in Welendus(FO), Brickowner, Crowdstacker, Proplend, Orca, ABLrate, CrowdProperty, Assetz Capital and Elfin Market. This time next year I'll be a miwionaire Rodders!
Representative of Fund Ourselves (formerly Welendus)