Received Mail from Trade cred - One must be cautious in other similar platform as well
Dear Valued Investor,
In the midst of the bad environment in 2023, we are again back to "Cautious" mode. Across all borrowers in our ecosystem, we have pruned down exposure by ~20% and removed more than 15% of the borrowers from our platform. These were borrowers who were borderline, but now with companies, especially new age, struggling to raise equity, we are focusing all our attention on not losing your money.
We have more and more borrowers approaching us, but we are less and less willing to list their deals on the platform, more so now. We will run very tight for next 2 months - We are not VC backed, and not in any pressure to grow - Protection of your capital is the only consideration we have in our minds.
To our mind, the safest opportunity right now for you (and we say this with a very heavy heart) would be a Bank Fixed Deposit, till our TradeCred representatives call you to deploy the money back.
Next few weeks, we would focus on Bank Guarantee / Cash Collateral backed deals, and you would see some of these. But by and large, we would go slow till September end. Wait for us please to announce a Post Monsoon Sale and we will deploy big time again.
Invest Safe,
Hardik Shah
CEO & Founder
Dear Valued Investor,
In the midst of the bad environment in 2023, we are again back to "Cautious" mode. Across all borrowers in our ecosystem, we have pruned down exposure by ~20% and removed more than 15% of the borrowers from our platform. These were borrowers who were borderline, but now with companies, especially new age, struggling to raise equity, we are focusing all our attention on not losing your money.
We have more and more borrowers approaching us, but we are less and less willing to list their deals on the platform, more so now. We will run very tight for next 2 months - We are not VC backed, and not in any pressure to grow - Protection of your capital is the only consideration we have in our minds.
To our mind, the safest opportunity right now for you (and we say this with a very heavy heart) would be a Bank Fixed Deposit, till our TradeCred representatives call you to deploy the money back.
Next few weeks, we would focus on Bank Guarantee / Cash Collateral backed deals, and you would see some of these. But by and large, we would go slow till September end. Wait for us please to announce a Post Monsoon Sale and we will deploy big time again.
Invest Safe,
Hardik Shah
CEO & Founder
