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Is Grupeer a scam?

Updated: May 16, 2020     The cost of participating in the class action has been reduced to 1.8% of each claim, no fixed fee. Minimum contribution: € 25.

After the misadventure of Kuetzal and Envestio, Grupeer also seems to be part of the rip-off P2P platforms.

There are many suspects:

  • the Promenade project seems fake
  • LOs Monetria, Lion Lender and Epic Cash are not licensed for microcredit, even if registered on Grupeer
  • some LOs blocked payments, waiting clarification from the platform
  • all withdrawals, with interest and principal, have been suspended
  • almost all employees have been fired

I personally have to complain about little transparency about late loans and the maturities of current ones. I asked the customer service for information and their response was as follows: for the deadline, you must open every single file, for delays, you’ll have no worries, because LOs have always paid on time. It doesn’t seem professional answers to me. In addition, my situation is frozen on 01/04/2020 and I never received the withdrawals made on 19 and 24 March.

A class action is in preparation: anyone interested can join, without any obligation, by filling in the following form: https://forms.gle/EnohVkdtpq81tYMh7

The class action cost per person will be 3% of the investments made at the platform, with a minimum of 100 euros for those who have invested until 500 euros. At the following website you will find news and resources for investors who were screwed over by Grupeer: https://sites.google.com/view/grupeerarmada/

Even if you are not going to join the legal action, I recommend you log in to your Grupeer account, as long as the site is functional, to download all the information regarding your investments. Download the data shown in the following document in English: https://docs.google.com/document/d/12Sg8ORTmDvQUtLn5rau0mDnBu9hzOPzgAyRL4HI_1fA/edit

I downloaded and renamed every single contract manually, as explained in the following video https://www.youtube.com/watch?v=ORksUB7MDoQ. There is also an automatic procedure, posted by Dmitry Lisenko on the international Telegram group https://t.me/grupeerdiscussion1, useful in case you have many loans. I report it in its original version (if you prefer to watch a video, please click on the link  https://www.youtube.com/watch?v=I8rmex18MJc):

If you have many loans and like to save time by auto-downloading and auto-renaming them with the script:

1. Use Chrome browser.
2. In Chrome Settings -> Downloads:
2a) Set Location to the directory where you want to download Grupeer agreements.
2b) Make sure ‘Ask where to save each file before downloading’ is Off.
3. Install the Chrome extension “Tampermonkey”:
3a) Go to https://chrome.google.com/webstore/detail/tampermonkey/dhdgffkkebhmkfjojejmpbldmpobfkfo?hl=en
3b) Add to Chrome -> Add extension.
4) Install the “Grupeer bulk download agreements” script:
4a) Go to https://greasyfork.org/en/scripts/401806-grupeer-bulk-download-agreements-2
4b) Click “Install this script”, then “Install” on the next page.
5. Open My Investments (page 1) on Grupeer.
6. Now you should have the floppy disk (save) icon under the Agreement column header (if extension & script installed correctly).
7. Click on the new floppy disk icon. It shall automatically download all agreement PDFs on all pages with good names like “Grupeer Agreement – 434123 – GRP-2430 (Finsputnik Platforma_PlanetaCash).pdf”.

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