Introduction
Welcome back to another insightful episode of Income Insights! In Episode 2, Denny from Re:Think P2P engages in a detailed conversation with Income Founder and Majority Shareholder, Kimmo Rytkönen, exploring recent developments with lenders Vivus and ClickCash. Join us as we unravel the decisions, strategies, and challenges faced by Income in the lending landscape.
ClickCash’s Debt Restructuring Plan
The episode kicks off with a discussion on ClickCash’s debt restructuring plan. Facing infrequent payments and struggles, ClickCash prompted the need for transparent communication. Kimmo sheds light on the decision to bridge payments, ensuring investors receive scheduled repayments up to 5,000 euros from Income funds. This strategic move aims to provide a safety net, guaranteeing investors a reliable schedule amid uncertainties.
The Logic Behind 5,000 Euros
Kimmo clarifies the rationale behind selecting 5,000 euros as the bridging amount. Despite the acknowledgment of a lengthy repayment timeline, the decision is rooted in practicality and the available funds from ClickCash. The conversation explores the intricacies of balancing investor expectations with the challenges of dealing with struggling lenders.
Addressing Conflict of Interest
Denny raises a crucial topic—conflict of interest, focusing on Kimmo’s equity investment in ClickCash. Kimmo provides a detailed background, highlighting the transparency maintained throughout the process. The discussion touches on potential policies and regulatory considerations to ensure a clear stance on equity interests in the future.
Vivus Mexico: Navigating Challenges
The episode delves into the challenges faced with Vivus Mexico, emphasizing the platform’s confidence in resolving the pending issues. Kimmo provides insights into the operational challenges Vivus encountered due to bank policies, shedding light on the complexities of cross-border fund transfers and the efforts to address them.
Maintaining Reputation and Transparency
The episode concludes with a discussion on potential damage to Income’s reputation and strategies for preventing similar issues in the future. Kimmo emphasizes the platform’s dedication to transparency, finding solutions with lenders, and ensuring investor trust through open communication.
Auto-Invest Feature Challenges
The conversation shifts to challenges with the auto-invest feature, attributing issues to a low supply of loans on the platform. Kimmo explains the logic behind auto-invest and acknowledges the need for constant tuning to enhance its functionality. The platform’s commitment to addressing concerns and improving the user experience is highlighted.
Conclusion
Episode 2 of Income Insights provides a comprehensive overview of recent developments, challenges, and strategic decisions made by Income in the dynamic lending landscape. The commitment to transparency, the resolution of issues, and the constant pursuit of improving user experience shine through, reaffirming Income’s dedication to investor trust and success. Tune in for more engaging discussions in future episodes!
