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Sunday, 21 August 2016

The #UAE’s First p2p Default? – Baizat.net @baizatdotnet

The UAE’s First p2p Default? – Baizat.net:

"Beehive, the UAE’s p2p online lending platform, appears to be facing its first loan default.

Launched in late 2014 by Craig Moore and former EmiratesNBD CEO Rick Pudner, the group in its first year issued around AED 25mn in loans to 48 SMEs in the UAE. By 2016 the platform had signed up around 2,000 investors and provided AED 30mn in loans to about 60 SMEs.

Trouble first appeared on the 18th July 2016, when investors received the following message from Beehive."



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