News 5: Lande tightens the reins
The Latvian agricultural platform Lande* is far from a catastrophe like Reinvest24, but it is also struggling with challenges. If we leave the IT problems aside, one highlight of the platform was the low failure rate. This seemed to be extremely good compared to the competition HeavyFinance. However, the recovery criteria were probably not clear and too vague, so that some borrowers went overboard.
This should now come to an end, because these criteria have now been revised, For us, this means that the default rate will increase, but that problem cases will also go to court more quickly and we can get our money back to work. The current default rate of 2.5% is therefore likely to no longer be sustainable. But it won’t be almost 12% like the competition either.
I have now hit 6 projects, which would lead to a failure rate of almost 4%. No need to get nervous, I’ll be restocking the platform again this week. But competitor HeavyFinance is also on my list for 2024.
If you would like to know more about LANDE, you can read the basics in my LANDE experiences. The platform offers a general sign-up bonus of 1%* on your investments in the first 180 days.
The failure rate on land increases slightly.
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