KFP is a Polish originator which specializes in financing short and medium sized enterprises. I just started researching about the originator and came across these articles which suggests it might be in trouble. This is the gist of the articles that I am seeing.
Information from the article: The Polish Financial Supervision Authority (KNF) announced on Tuesday, December 3, 2019 that it had added a new entity to the list of public warnings, the Capital Loan Fund limited company in Warsaw. Inclusion on the PFSA list is associated with trading financial instruments without the required permit.
So, the company has performed financial transactions without the required license or permission from KNF.
Is this the same company on Iuvo Group?
The IUVO Group loan originator page gives the company website as https://www.kfp24.pl/ As per website, the company is ‘ Kapitałowy Fundusz Pożyczkowy S.A. z siedzibą w Warszawie’. It appears to be the same company mentioned in the media.
What this means?
Not much information is available regarding this. And since Iuvo Group do not work on weekends, I could not ask them for clarification either. Hence, it is hard to draw any conclusions.
More sources (pretty much same information):
Source 2: https://www.bankier.pl/wiadomosc/KNF-wpisal-Kapitalowy-Fundusz-Pozyczkowy-sp-z-o-o-na-liste-ostrzezen-publicznych-7783356.html
Source 3: https://www.parkiet.com/Finanse/312039899-Kapitalowy-Fundusz-Pozyczkowy-na-liscie-ostrzezen-KNF.html
Update: Filtering loans over 60+ delays shows only KFP loans right now in secondary market. Not sure why the buy back hasn’t happened yet. No other loan originator seems to have 60+ delays.
Update 2: Searching for the company (mentioned in the media) on KNF shows the company number is KRS 572140. However, KFP (Iuvo Group) company website says their number is KRS 529534. So, are they two different companies? Hard to ascertain.
Update 3: It appears they are the same company. Searching the KRS registration numbers in the below website gave the same HQ address:
Update 4: Iuvo has sent a letter to investors stating the following. But it still doesn’t address why the two companies have the same address.
Note: I am not a financial professional and this is not a financial advice. This is my personal observation and opinion.