Lendermarket Review: A Closer Look at Its Legitimacy
Lendermarket is a peer-to-peer (P2P) lending platform that links investors with loans provided by Creditstar Group, a well-known lending firm based in Estonia. While the platform offers investors a chance to earn returns through its loan offerings, there have been growing concerns regarding its operational practices and payment delays, which have led to doubts about its trustworthiness. In this Lendermarket review, we will explore the platform’s features, its legitimacy, and the risks associated with investing in it.
Website: https://lendermarket.com/
Website Availability: Yes
Address: 77 SIR JOHN ROGERSON’S QUAY, BLOCK C, GRAND CANAL DOCKLANDS, DUBLIN 2, D02 VK60, IRELAND
Regulation: Unregulated
Warning: Not Recommended By Lycan Retrieve
Domain Age:
- Name LENDERMARKET.COM
- Registry Domain ID 118484005_DOMAIN_COM-VRSN
- Registered On 2004-04-27T22:12:18Z
- Expires On 2025-04-27T22:12:18Z
- Updated On 2024-04-10T08:03:45Z
Overview
Lendermarket operates under the ownership of SA Financial Investment OÜ, providing a marketplace where investors can fund loans primarily in countries with lower risk profiles. Creditstar Group, which is well-known in many European markets, provides loans on the platform. Investors are drawn to Lendermarket due to its potential returns, but the lack of regulation by major financial authorities may make it riskier than some investors realize.
Is Lendermarket Legit or a Scam?
While Lendermarket is not outright a scam, several concerns should not be overlooked. On Trustpilot, the platform has gotten mixed reviews from users, some of whom have complained about delayed refunds and outstanding payments. According to some investors, Lendermarket has failed to pay back loans promptly, citing problems with the banks involved, despite continuing to work with those same banks. This has caused frustration among users, particularly those who have large sums of money in pending payments.
Additionally, the “Invest Pending Payments” feature has been criticized for automatically reinvesting funds rather than resolving pending payments, leading to further delays in accessing funds. As a result, investors with substantial amounts of money locked in pending payments have expressed concerns over the platform’s transparency and reliability.
In conclusion, while Lendermarket is not a scam, its operational challenges and lack of regulatory oversight make it a risky investment platform.
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