Estonian peer-to-peer business lender Monethera has reopened its platform to deposits and said investors should be able to make withdrawals again, after it faced issues with its bank.
Monethera, which offers rates between 18 and 22 per cent to fund loans in Estonia, Latvia, Poland and Germany, had been trying to find a new banking provider after investors faced regular issues with making deposits and withdrawals
The platform said it has moved to a payment system that will stop any automatic blockages of deposits or withdrawals.
However, its buyback programme, which was stopped amid wider concerns about the Estonian P2P lending sector, remains suspended.
“Our investment platform works as usual, and we will soon present several investment projects, which we are sure will stir great interest,” Monethera said.
“Our secondary market option is almost ready to be launched to create even more opportunities for future investments.
“We can confidently say that we have done everything in our power to reduce to zero the possibility of a repetition of this unpleasant situation.
“The Monethera team is doing everything possible so that the investor feels secure and safe.
“That’s why we are 100 per cent transparent and ready to answer any questions.”
The Estonian P2P lending market is under pressure at the moment after police launched a criminal investigation into the unexplained closures of Envestio and Kuetzal, which has left investors unable to access their funds.