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Post by wiseclerk on Jan 29, 2016 17:38:06 GMT
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djp
Posts: 23
Likes: 12
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Post by djp on Jan 29, 2016 20:06:21 GMT
I would take a look at Trustbuddy before you get to excited!
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Post by wiseclerk on Jan 29, 2016 20:09:15 GMT
Can't see any connection?? Trustbuddy was a swedish payday lender charging borrowers xxxx% interest and no transparency for investors. Crosslend is a German startup that cooperates with a bank to comply with regulation. There is information for each individual loan and the APR for borrowers is not much higher than the rate the investors gets (typically around 5-14% for German/Dutch loans)
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kermie
Member of DD Central
Posts: 689
Likes: 462
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Post by kermie on Jan 29, 2016 20:13:26 GMT
I think, wiseclerk, the suggestion is that 10% cashback looks too good to be true. And I would argue that it therefore probably is.
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Post by wiseclerk on Jan 29, 2016 20:17:44 GMT
Crosslend will make a loss on this offer. I consider it marketing expenses - might be cheaper than other forms of marketing or might not be. But I guess they raised enough VC money to go this route. And they did put an upper limit to the total bonus they pay combined to all investors (read linked T&C) to ensure that marketing spend does not get to big.
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