Envestio is over
January 25, 2020
After 5 days it is clear that Envestio is no longer. The website is gone as well as the money and investment data from the many investors who have trusted Envestio in the past years, including me. I’m going to write-off Envestio, drink a beer and continue my p2p journey.
I lost 3.650 € on this journey. See my Envestio Journey for more stats and the transactions I made from the start in January 2019.
January 22, 2020 ECN reports Envestio to National Conduct Authority
Since late 2019, the Estonian crowdfunding sector, especially regarding lending-based platforms, has seen heightened secrurity and potential fraud. The difficulties appeared so far at two platforms operating out of Estonia, specifically Kuetzal and Envestio. ECN has received a large number of inquiries by concerned investors who have not been able to withdraw funds from their accounts nor claim to have received any communication from the platforms. ECN cannot judge at this point in time if the platforms have acted in breach of law. But the overall situation does not seem adequate. We hope that the situation at both Estonian platforms, Kuetzal and Envestio, is temporary and wish both investors and platform a quick and positive solution.
Kuetzal : ECN has over the past weeks repeatedly been contacted by concerned investors in lending-based crowdfunding platform Kuetzal, Estonia. It has become apparent that at least since a change in management in the second half of 2019 the operations of the platform is lacking in its response and conduct with investors. ECN has reached out to the platform’s new management for clarification but did not receive satisfactory information that would clarify the situation. ECN cannot not judge if the platform has acted inappropriate toward its investors. ECN has notified the relevant authorities with regard to Kuetzal and a criminal investigation has been launched by the General Prosecutors office: https://www.prokuratuur.ee/en/contacts/office-prosecutor-general
Envestio : Similarly, on 21 January 2020 lending-based crowdfunding platform Envestio has shut down its website and posted inconclusive messages on Facebook with regard to technical issues. ECN has reached out to the platform for clarification but not received any feedback. In the meantime many investors have also reached out to ECN. ECN cannot judge if the platform has acted inappropriate toward its investors. ECN has notified the relevant authorities with regard Envestio on 21 and again on 22 January 2020.
Please be advised that as a consumer, with the current situation with both platforms, you are best advised to assume fraud or suspected crime and should make a relevant claim with the Estonian Police and Border Guard Board, which can be reached here: https://www.politsei.ee/en
more info on European Crowfunding Network (ECN)
January 23, 2020 Evnestio Employee Liene Meldere published a facebook post
Envestio’s website is down. Whether it is because of investors panic, hacking, or maybe Envestio is a scam… I’m receiving questions from investors about what has happened through every possible channels. But unfortunately, I have no answers because our COO Jevgenijs Kukins is out of reach for me too and has been deleted from all social networks. Moreover, I haven’t received any sufficient explanation from our current shareholder Arkadi Ganzin. I am not a decision maker or a board member with signatory rights at Envestio – I do not have access to bank accounts and the investors’ database. I worked as freelancer in Envestio, To the best of my knowledge, Alesia Nikalaichyk and other employees in IT, Sales and Support were just following the management’s tasks in daily activities not related to due-diligence of funded projects and did not have authority to execute payments. As a result, I have no answers and I very much hope that either the COO or the Shareholder will soon contact me and investors to terminate our concerns and uncertainties.
I would like to add that I have also invested in projects presented by Envestio and I hope very much that I have not lost my money.
I’m receiving not only questions but also threats. I understand very well that we are all in suspense and this creates various negative emotions, but by sending me threat letters will not resolve the situation because, as I have already said, I cannot influence the decisions and actions of Envestio’s owners and board members. Please, don’t send me threat letters.
Working on Envestio, I really believed that Envestio was a company that would develop and add value to the overall p2p market. I am very sorry that investors panic and that hacker attacks have such a big impact on the company and market. But I still hope that Envestio will make it. I hope that COO or owner will contact me and investors and explain what is happening. I hope that I and all investors will get back the money invested on Envestio.
more info on Facebook