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Octave Odola
Published on
The consumer badociation denounces the abuses of crowdfunding platforms to businesses, while the European Parliament is addressing the issue on Monday, November 5th.
A legal uncertainty around crowdfunding. This is, in essence, what the UFC Que Choisir denounces. The consumer badociation publishes this Monday, November 5 a detailed article on the seven main crowdfunding platforms. And his report is alarming. The badociation denounces a lack of protective legal framework for consumers who invest in companies.
Reminders issued by the Autorité des Marchés Financiers in December 2017 had no impact on the platforms.
Default rates have jumped 120% in the last 18 months according to UFC Que Choisir. Across all platforms, nearly one in ten funded businesses fail to pay their installments to consumers.
Thus, nearly one in five consumers is not reimbursed at Lendopolis (18.3%), while Unilend has exceeded this heading (21.5%), while the president of the platform had imagined that an incident rate of the order of 2% maximum.
For consumers, investments to finance businesses are therefore unsafe and unprofitable. The European Parliament, which has taken up the issue today, will have to try to propose more restrictive legislation towards crowdfunding platforms.
>> Read also – Unilend in cessation of payment
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