Nik Sinickis – CEO – Loanch Interview 2024

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…We saw an opportunity to bridge these gaps by offering quicker returns, higher liquidity, and access to exciting new markets…

 

Being a crowd investor is like embarking on an exhilarating adventure, charting a course through the ever-changing landscape of a fiercely competitive market, all in the pursuit of diversifying our portfolios and squeezing out every drop of return possible. As we set foot into the year 2024, we’ve seen a multitude of new P2P investment platforms spring to life, each with its own promises and prospects. However, not all of them are created equal, and discerning the ones with true potential can be quite a challenge.

Today, we are in for a treat as we sit down with Nik Sinickis, the brain behind Loanch – an innovative platform that’s poised to revolutionize our approach to loan investments.

 

0 – Nik, welcome to TodoCrowdlending! We’re thrilled to have you here to shed light on what makes Loanch stand out in this bustling crowd of investment opportunities.

NS

Thank you, I’m glad to join this discussion with you today.

 

1 – Loanch stands out with its 30-day buyback guarantee and focus on Southeast Asia. What specific challenges did you identify in the existing P2P landscape that inspired this approach?

NS

While traditional platforms offer valuable services, we saw room for improvement in terms of liquidity and accessibility. The 60-day buyback standard often locked investors’ funds for extended periods, limiting their flexibility. Additionally, many platforms primarily cater to established markets, overlooking the vast potential of Southeast Asia’s growing economies. We saw an opportunity to bridge these gaps by offering quicker returns, higher liquidity, and access to exciting new markets.

 

2 – Can you elaborate on your due diligence process for selecting loan originators? What specific criteria ensure the security and reliability of investments on Loanch?

NS

Security is paramount at Loanch, and we implement several measures to ensure it. Firstly, our lenders offer a 30-day buyback guarantee, minimizing your risk. We also have a rigorous selection process, checking licenses, legal compliance, and even monitoring online news for red flags. We delve deep into lenders’ risk management strategies and KYC procedures and continuously test their effectiveness.

We actively monitor loan performance, and if a lender’s recovery efforts fall short, we pause their portfolio. Soon, we’ll launch a transparency page with detailed loan performance data, empowering informed decisions. Finally, we assess new lenders’ growth plans to ensure sustainable expansion. These combined measures provide a secure and reliable platform for your investments.

 

3 – Your base in Hungary is an interesting choice for a platform targeting Southeast Asia. Can you explain the strategic thinking behind this decision and how it impacts your operations?

NS

While our team operates remotely from various locations, Budapest serves as our central hub for collaboration and strategic planning. This decision wasn’t random. We meticulously evaluated factors like the business environment, operational costs, and proximity to our target markets. With the lowest corporate tax in the EU, Budapest emerged as the ideal location, boasting a favorable Doing Business Index and a central position within Europe. It facilitates efficient collaboration, fosters innovation, and positions us strategically for our Asian expansion.

 

4 – How’s the Hungarian landscape when it comes to regulations?

NS

Right now, no specific license is required for our model in Hungary. But we’re proactive – we plan to get one as soon as regulations evolve. Think of it as staying ahead of the curve and ensuring everything’s above board.

 

5 – Nik, tell us about the path that led you to Loanch. Your background seems pretty diverse – project management, engineering, and finance! How did these experiences come together to spark the idea for this platform?

NS

Thanks for asking! You’re right, my background is a bit of a mix. It actually played a key role in launching Loanch. My years in project management and engineering honed my ability to organize and execute complex ideas. Then, working in insurance gave me a deep understanding of risk management, which is crucial in P2P lending. But the real driving force was my own passion for active investing, which started back in 2016. I saw a gap in the market for a platform that offered faster returns and more flexibility, and that’s where Loanch was born.

 

6 – Speaking of personal interests, do you put your own skin in the game with P2P lending? And when it comes to your broader investment portfolio, are you more of a traditional stocks and bonds kind of person, or do you dabble in crypto and other alternative assets?

NS

I believe in practicing what I preach, so yes, I actively invest on P2P platforms, including Loanch, of course. In the past, I’ve explored other avenues like stocks and even tried my hand at crypto. For me, diversification is key, and I enjoy staying informed about different asset classes and investment opportunities. But P2P lending holds a special place in my heart because it allows me to connect directly with businesses and contribute to their growth.

 

7 – You mentioned exciting developments planned for 2024. Can you provide specific details about upcoming platform features, new products, or potential regulatory considerations you’re navigating?

NS

Innovation is at the heart of Loanch. We’re constantly seeking ways to enhance the investor experience. This year, you can expect platform statistics for increased transparency, an expanded lender network for more diverse investment options, and the launch of new products catering to specific investor needs. We’re also exploring the implementation of a secondary market to provide greater flexibility for investors. Regulatory compliance is crucial, and we actively monitor legislative developments in both our operational base and target markets. We plan to adapt and obtain the necessary licenses as regulations evolve.

 

8 – Looking beyond 2024, what is your vision for Loanch’s long-term future? Do you see yourselves expanding into new markets or product categories?

NS

We envision Loanch as a leading force in democratizing access to financial opportunities in Southeast Asia and beyond. We plan to expand into new markets with high growth potential, offering investors a diversified portfolio of investment options. We are also looking into creating cutting-edge financial products to meet our investor base’s changing needs. Ultimately, we strive to become a trusted partner for investors seeking to navigate the exciting world of P2P lending with confidence and security.

 

9 – Any parting words for the TodoCrowdlending community?

NS

We’re thrilled to share that we’ve reached nearly €1 million in total investments since August. And do join our Telegram community to connect with fellow investors and share your feedback. We’re eager to hear from you!