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Official statement from iuvo regarding news about instability in the crowdfunding market

Dear Investors,

Recent news about instability and possible malpractice of some small Baltic Crowdfunding platforms concerned the industry, the serious players on the market, and most importantly, you – the investors in this innovative field of business. In regards to that we would like to remind you the main traits of iuvo as a platform with long-term development goals, supported by a team of experts and stable investments.

Ownership and capital
Iuvo has fully paid in capital of 1.7 million euro. Our majority owner is Management Financial Group (MFG). MFG is a holding, which encompasses in its structure leading companies, specialized in the field of Non-bank Financial services in Eastern Europe. MFG manages substantial portfolio of successful business models in the field of personal loans, financing of micro and small businesses, credit cards and other alternative financial models. The holding has companies with different experience, history, and traditions. Some of them are well established companies with over 14 years of history in financial services. The companies of MFG employ over 8 000 people in approximately 450 offices in Bulgaria, Ukraine, Romania, Poland and North Macedonia. The expansion of the holding is currently developing in Russia, Mexico and Spain. MFG is one of the fastest growing providers of FinTech products and has the ambitions to keep being a leader in this market.

License
Iuvo is a member of Finance Estonia cluster and is also a licensed credit intermediary. The license was issued by the Estonian Financial Supervision Authority (Finantsinspektsioon Estonia) in 2017 and the obligations include quarterly reporting to the institution. It is important to note that iuvo is the only P2P platform with such license at the moment.

Audit
Iuvo’s internal processes and practices of risk control are duly audited by Grant Thornton. Grant Thornton is a global leader in their field, and the sixth biggest network of accounting and consulting companies in the world.

International recognition and awards
In January 2020, iuvo was proclaimed as Best Financial services Company by the prestigious Forbes Business Awards, Bulgaria. In 2016 and 2017 the platform was also selected by Forbes as one of the top Startup companies. Iuvo is among the biggest platforms by market share in Europe according to the biggest analytical website for alternative financing, Brismo. In 2019 we were represented at international forums such as LendIt in London, Supreme Credit Forum in Prague, P2P Conference in Riga, and our CEO Ivaylo Ivanov took part as a panelist at AltFi Berlin Summit 2019.

Iuvo’s business
The business model of iuvo gives its investors the opportunity to generate high yield, and it gives its loan originators the opportunity to expand their business. Iuvo has 18 000 investors from over 130 countries, and over 100 million euro invested funds for a little over 3 years. 9.2% is the average annual interest of our investors.
Iuvo has had a remarkable growth in all of our business indicators in the past 12 months:

– New investors – growth of over two times (2);

–  Market turnover – growth of over two times (2);

–  Listed loans – growth of over two times (2).

Iuvo’s team is highly devoted to tackle all business challenges with passion and integrity, supported by our trade results and our shareholders. Our goal is to provide our investors with a first class service, high yield at controlled and transparent risk levels. Together we grow stronger and more successful with every year passed and we also strive to increase the quality of the industry in general.

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