European peer-to-peer lender Boldyield has announced it is pausing its lending activities.
The platform, which has offices in Estonia and Latvia, offered returns of between 10 and 18 per cent for investors backing short-term property, maritime and business loans across continental Europe.
“Due to the significant industry events, we have made a decision to pause our business operations for an uncertain period of time and do not proceed with current project financing,” it said in a post on its social media platforms
“All funds collected are already returned back in full to all our investors.
“Additionally, the amount of accrued interest for all period of investments made are also credited to the investors’ accounts.
“We think it is a fair step to thank you in such a way for giving credit to a new marketplace like we are.”
It is unclear which industry events the announcement is referring to but it comes after Estonian P2P lending platforms Kuetzal and Envestio mysteriously closed last month and the European Crowdfunding Network reported both to the country’s National Conduct Authority.
There is no suggestion that the closure of Boldyield is related to these events.