greatmarko
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Post by greatmarko on Jul 3, 2020 10:02:27 GMT
According to P2P Finance News, Lending Works has just been acquired by alternative investment manager Intriva Capital for an undisclosed amount. The existing Lending Works management team remain in place, and Intriva have "committed to providing significant additional funding and capital to support the growth of the business". |
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r00lish67
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Post by r00lish67 on Jul 3, 2020 10:07:13 GMT
According to P2P Finance News, Lending Works has just been acquired by alternative investment manager Intriva Capital for an undisclosed amount. The existing Lending Works management team remains in place, and Intriva have "committed to providing significant additional funding and capital to support the growth of the business". Ah, that would probably explain the new charge to a Jersey based entity that I saw crop up the other day.
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macq
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Post by macq on Jul 3, 2020 10:22:09 GMT
According to P2P Finance News, Lending Works has just been acquired by alternative investment manager Intriva Capital for an undisclosed amount. The existing Lending Works management team remains in place, and Intriva have "committed to providing significant additional funding and capital to support the growth of the business". Ah, that would probably explain the new charge to a Jersey based entity that I saw crop up the other day. think your thank you's in another thread will be going up again - cheers
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IFISAcava
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Post by IFISAcava on Jul 3, 2020 10:53:50 GMT
Ah, that would probably explain the new charge to a Jersey based entity that I saw crop up the other day. think your thank you's in another thread will be going up again - cheers seconded
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Post by overthehill on Jul 3, 2020 13:43:35 GMT
Unless there is some kind of backtrack or softening of the recent retrospective reclamation of paid interest then the investment predictions in the articles certainly isn't going to be fuelled by private investors, another P2P firm to move to institutional only !?
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macq
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Post by macq on Jul 3, 2020 14:06:32 GMT
Unless there is some kind of backtrack or softening of the recent retrospective reclamation of paid interest then the investment predictions in the articles certainly isn't going to be fuelled by private investors, another P2P firm to move to institutional only !?
Well it does say in One story that demand for the product will be even stronger in the future - so am thinking of changing my name to Marty Mcfly and going back to the future to get some payments!
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Post by overthehill on Jul 3, 2020 14:43:33 GMT
Regarding the interest heist, the new buyers must be referring to new investors, investors with short term memory loss who read this forum or investors who don't read this forum. Not forgetting the white elephant in the room , the same management team.
Normally at this point I would add the caveat I haven't lost a penny with Lending Works but a better description is I earned a lot of pennies which I am now handing back on a monthly basis.
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Post by decleoro on Jul 3, 2020 21:27:00 GMT
According to P2P Finance News, Lending Works has just been acquired by alternative investment manager Intriva Capital for an undisclosed amount. The existing Lending Works management team remains in place, and Intriva have "committed to providing significant additional funding and capital to support the growth of the business". Ah, that would probably explain the new charge to a Jersey based entity that I saw crop up the other day. Gosh... Hope this is a good thing?? Didn't see this coming guess no one could. As I have said before just don't want to lose any of my capital and would have been Ok with no interest for a while, after all once the payment holiday is over for borrowers they will have to pay it all back eventually.. er hopefully. Anyway I hope we get some info soon about this new company which seems may be newer than LW after my little research attempt.?. What do we know about this new company anybody?? It looks like they have bought LW up 100%... I'm crossing my fingers and hoping for the best... Looking forward to an informative message from Matthew or email from Lending works soon to put us in the picture. Fingers Crossed.
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johni
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Post by johni on Jul 3, 2020 22:39:24 GMT
Not looking good phoned 3 times over last week and a half had to leave message no one bothered to call me back.
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Ukmikk
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Post by Ukmikk on Jul 4, 2020 12:07:02 GMT
Not forgetting the white elephant in the room , the same management team.
Yeah that's the bit that worries me. Just don't understand it.
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Post by oppsididitagain on Jul 4, 2020 13:59:25 GMT
Ah, that would probably explain the new charge to a Jersey based entity that I saw crop up the other day. Gosh... Hope this is a good thing?? Didn't see this coming guess no one could. As I have said before just don't want to lose any of my capital and would have been Ok with no interest for a while, after all once the payment holiday is over for borrowers they will have to pay it all back eventually.. er hopefully. Anyway I hope we get some info soon about this new company which seems may be newer than LW after my little research attempt.?. What do we know about this new company anybody?? It looks like they have bought LW up 100%... I'm crossing my fingers and hoping for the best... Looking forward to an informative message from Matthew or email from Lending works soon to put us in the picture. Fingers Crossed. I think you are living in a fairy land if you think thats going to happen. No communications from LW to us about this so called merger/buyout. Again very poor, but what do you expect from a company that doesn't seem to want to look after its customers.
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Post by decleoro on Jul 4, 2020 14:16:18 GMT
Gosh... Hope this is a good thing?? Didn't see this coming guess no one could. As I have said before just don't want to lose any of my capital and would have been Ok with no interest for a while, after all once the payment holiday is over for borrowers they will have to pay it all back eventually.. er hopefully. Anyway I hope we get some info soon about this new company which seems may be newer than LW after my little research attempt.?. What do we know about this new company anybody?? It looks like they have bought LW up 100%... I'm crossing my fingers and hoping for the best... Looking forward to an informative message from Matthew or email from Lending works soon to put us in the picture. Fingers Crossed. I think you are living in a fairy land if you think thats going to happen. No communications from LW to us about this so called merger/buyout. Again very poor, but what do you expect from a company that doesn't seem to want to look after its customers. Well I did say ...err hopefully! It is all very worrying, this company could do anything and the fact that they say the present team will remain may not end up being true. I have to try and be optimistic "fairy land". Otherwise I may have a nervous breakdown as have a lot invested which I am taking back very gradually. I should think we will hear something on Monday, if not it will be a very poor do.
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Post by df on Jul 4, 2020 14:51:27 GMT
I think you are living in a fairy land if you think thats going to happen. No communications from LW to us about this so called merger/buyout. Again very poor, but what do you expect from a company that doesn't seem to want to look after its customers. Well I did say ...err hopefully! It is all very worrying, this company could do anything and the fact that they say the present team will remain may not end up being true. I have to try and be optimistic "fairy land". Otherwise I may have a nervous breakdown as have a lot invested which I am taking back very gradually. I should think we will hear something on Monday, if not it will be a very poor do. I found patience and some degree of optimism the best way to approach platforms' crisis/changes. There's nothing I can do to influence the outcome anyway.
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criston
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Post by criston on Jul 4, 2020 14:56:00 GMT
Nothing like taking over a lending company, where the lenders are having their own money extracted to support the running of the company; while their interest is being used to try & pay for the eventual defaults on their loans; while borrowers are defaulting & being offered forbearance.
You couldn't make it up.
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69m
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Post by 69m on Jul 4, 2020 16:31:40 GMT
In fairness to LW, this announcement was posted on the web site yesterday. An email communication too would've been courteous, though.
I'm actually optimistic about this news - if nothing else, hopefully the risk of platform collapse has just diminished significantly. And while the existing management team might be staying (for the time being), I suspect that the new owners will be exerting considerable influence.
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