Wisefund OU Reviews 60

Extremely disappointed with Wisefund. I used to get in touch with its CEO, Ingus Linkevics, and he seemed to be quite serious, professional and doing a good job in Wisefund overall. However, at one point all things changed and the lack of feedback, precise answers and excuses started to come up in email threads. Nowadays, I am in a lawsuit against this platform and its CEO, Ingus Linkevics, along with thousands of investors, in order to simply force Wisefund and Ingus to fulfill its own binding legal contractual agreements, which clearly stated the total guarantee of the loan in case of default of the borrower. Sadly, this will end up very badly for Wisefund. Trust is the first value to build a company upon.

I would be glad to amend this review in case Wisefund acts as one expect a reliable and professional company would act, which is paying back my invested amounts as it was legally defined in the agreements, instead of avoiding its own responsibility in its own business company trying to cover its own mistakes.

Nevertheless, I don't expect this happening, given the poor behaviour showcased so far, so I am obliged to inform the rest of potential investors to stay away from this platform.

It's a scam. They don't pay any interests since months now. Your money will be gone. DO NOT INVEST HERE!!!

I’m extremely disappointed.
My account has a payout inactivity since March.
By now more than half of my investments should have been paid.
If I ever receive my money back I’ll be happy, but definitely I won’t invest again with wisefund.

Extremely professional, first class service. They dont overlook anything. These couple of times i have needed their help, they have helped. Always treated me extremely well and done an incredibly nice work.
Hold on guys! Covid crisis will pass, unfortunately jerks will stay

None of the so-called guarantees work. Early exit? Not possible. Buyback? Sorry, no more funds. Covered by protection fund? Nope, sorry. When asked about it, the reply goes "Could you please describe where (except the suspension of early exit ) we have failed our mutual cooperation?" - well, they are giving a lot of stories, but the essence is to get the money back, isn't it? Meanwhile the CEO is stating that their IT "must have been high" when errors occur where interests are paid out and cancelled right after. That's money you're handling there...

DO NOT INVEST!!

After the previous scam in P2P (Envestio, Kuetzal), there is another one Wisefund. The company is hiding behind all of the corona situation, therefore you would be unable to withdraw your money. Buyback guarantee? do not believe that, because investments are 3 months after the due date no update whatsoever... borrower's companies do not pay and Wisefund is explaining it by making up some excuses.

Early exit option - "Due to high amount of early exit requests for last 24 hours, the option is limited until further notice" - ( 5 months is this on every investment in every investor's portfolio = money are stuck)

To elaborate on respond below:
- Availabilty of withdrawal money I haven't invested.
- Principal was not paid from any investment I have in my portfolio
- Promised buyback were not fulfilled from Wisefund as well

next scam platform to exit - do not invest a cent!
all projects seem to be fake, and platform invents the situation, creates some scenarios explaining why /fake/ projects do not pay, hides behind difficulties because corona.
they must be on same team with other scams like Kuetzal, Envestio, Monethera which frauded investors and run away with money.
i hope these scams will be closed down soon becasue community has no more trust
it is clear platform writes fake reviews below, do not trust them

Poor communication in the last months, empty words, no facts towards investors, except some rare emails to explain why money cannot be withdrawn and why all borrowers have been offered an extension of 3 months, even if they wouldn't need or apply for it. It is not possible to get any proof of real connection between Wisefund and borrowers, even after requesting it by email. For example, CI Trading UG in Germany. Does it really have a loan with them? This basic information with proof should be provided to investors when their money is blocked for months.

Too gain trust in this times it is essential to keep communicating. Come forward and inform investors like a couple of the other platforms do.

Looks like the next big platform who will exit. Instead of a direct scam they will hide behind Corona.

One of the few platforms that still allows to get your money back and pays interest of the different projects

hi . up to now nothing to comment against this platform .

21/1/2020: Investors received an email from the platform where is stated that the buy-back option was stopped until further notice. This mail used a pretty strange example with a bank.
'how would you feel if for no reason your local bank would request an immediate return of your mortgage?'
If a bank wanted back money from a mortgage with 15% profit for me I would be in, and refinance rest in a different bank. Mail completely didn't take into account that a lot of people accepted lost to get money back. They just used the option that the platform offered, nothing more.
I actually managed to do exit requests before it was disabled. By platform own conditions (exit guarantee takes up to 2 business days before funds appear in your lender's account) I should have my money tomorrow, but I kind of doubt it.

Simply, so many parallels in the business model can be found between Kuetzal, Envestio, and Wisefund.

Update 24/1/2020:
I received mail from support asking if I am sure about my buyback request. This mail also stated that it will take up to 15 days to process requests. I promptly replied that I am sure about it. In their FAQ, they reserve for buyback up to 2 working days, but this time after 2 days they ask for the other 15. They just play for some more time.

Update 28/1/2020:
Yesterday, buybacks were processed and money showed on the Wisefund account. I instantly requested a withdrawal, which was processed the same day and finally today money landed on my account in the bank. So I am happy about seeing my money back. In light of current events (K and E), I still think that the platform needs a way more transparency and better communicate real risks to investors. Still, no idea if projects are real and how this all will end up.

Referal note - How honest is the review if the writer of it will receive some money when you decide to invest? So, my review doesn't have any referral code at its end.

I funded my account on 09.11.19, I know they updated their website, so I waited almost 6 weeks, now there is one project available, but the money was not allocated to my account. I sent a mail to the support last week. Still no answer from Wisefund🤔🤔🤔

Update: the problem was solved. I needed the payment statement from my bank(Revolut). Many thanks to Wisefund for proving their professionalism.

Created my account one month ago, transferred some money and they were returned few days later, without any details. Then they've announced that they have an issue with the deposit system and should've update the users after a few days. Then they've announced that. On 2nd on December everything will be fixed. 8th of December and still nothing and this is a huge concern. Good thing I got my money back but I don't want to keep my investment in a platform that has technical issues for a month and can't keep they're commitments, what if this would happen with withdrawals?