In November 2022, Click Cash was suspended on the Income platform for not executing buybacks as per the agreement.
As previously communicated, Income has supported investors by bridging ClickCash payments over the past year. Income has covered 40,000 EUR so far of the 182,818 EUR of principal that went into recovery. At the moment, the total recovery percentage stands at 40.9%. Due to Clickcash’s promise of arranging additional funding, we have decided to temporarily adjust the approach.
Temporary Pause on ClickCash Repayments
ClickCash repayments will be paused for the four months (including August, September, October and November payments). During this period, ClickCash is actively pursuing to close its fundraising efforts. During this pause, we will focus on other important developments and encourage ClickCash to focus on securing the necessary resources to resume direct repayments to investors and strengthen its business foundation.
Potential for Intermittent Payments
Should ClickCash close its funding earlier, the direct payments will resume faster.
Reason for the Adjustment
Our decision to pause payments stems from our belief that ClickCash should make the payments directly. As this shows promise, it makes sense to allow them to finalise fundraising and return to the normal course of business. With ClickCash’s efforts toward revitalisation, we are confident that a relaunch will enable Income to maintain the growth tempo crucial for the platform’s overall health and investment security.
We acknowledge the potential concerns that may arise due to this temporary pause. This decision was made with careful consideration of the longer-term benefits to investors and our community as a whole. We are supporting ClickCash’s efforts to resume daily business, which we believe will strengthen their repayment capabilities and, hopefully, allow them to fully cover investor repayments in the near future.
We will monitor developments closely and keep you updated on any further adjustments. Your trust and patience during this period mean a lot to us, and we thank you for standing by as we work toward sustainable solutions for all.
Thank you for being a valued part of the Income community. If you have any questions or concerns, please do not hesitate to reach out.
