Grupeer investors have been warned that withdrawals are taking longer due to a spike in requests.
The Latvia-based peer-to-peer lending platform, which provides business and property development loans globally, said staff were now working from home due to the coronavirus crisis so requests were taking longer to process.
It also said its email requests have tripled in the past two days so it was taking longer to reply to queries.
“Due to a higher amount of withdrawal requests and a delay in incoming payments from our partners due to the coronavirus crisis,” Grupeer said in a note to investors.
“We are going through the withdrawal requests slower than usual.
“Our finance team is working from their home offices the same as all Grupeer team.
“Even though it slows down our daily operations, they are still working on each withdrawal request at the moment, but due to the above mentioned factors we cannot say how fast this request can be fulfilled.”
P2P lenders in the UK have faced similar issues, with Assetz Capital establishing a queuing system, while RateSetter is working through requests and Growth Street initiated a ‘liquidity event’ to stop withdrawals.