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Lande to relaunch secondary market by finish of Q2

Lande Finance intends to relaunch its secondary market by the top of the second quarter of 2024.

The European agricultural lending platform paused all secondary market actions in December 2023, after a lot of transactions had been processed erroneously, resulting in incorrect balances and calculations for traders.

The platform’s chief expertise officer Aleksandrs Nastasins mentioned that the relaunch has concerned “addressing advanced necessities which might be distinctive to our platform.”

“On account of this stage of complexity and the necessity for precision in such transactions, we briefly suspended the secondary market earlier this yr to refactor our legacy methods safely,” he mentioned.

“This resolution prevents potential errors that might have an effect on investor pay-outs throughout system updates.

“Moreover, we’re addressing a loophole in our bonus system that some traders exploited by the secondary market, which requires new enterprise guidelines.

Learn extra: Lande receives EU crowdfunding licence

“We intention to confidently relaunch the secondary market by the top of the second quarter, after guaranteeing all technical and enterprise enhancements are securely carried out.”

Nastasins added that Lande’s tech staff performed a full audit of its core platform necessities six months in the past. The audit resulted within the creation of a number of initiatives geared toward enhancing platform well being and scalability.

Within the yr forward, he mentioned that his staff is concentrated on enhancing the scalability and effectivity of the platform. This can embody an replace to the auto-invest characteristic, and a extra streamlined borrower onboarding course of.

“These enhancements are geared toward offering the very best worth proposition to our customers and guaranteeing sustainable development for the platform,” Nastasins added.

Learn extra: Lande completes €1m in loans in March

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