Kuetzal: Quick Review

Kuetzal Cover @ Savings4Freedom

Kuetzal Quick Platform Review

Last Update (01.01.2020)

Fraud with Kuetzal loans. Kuetzal is a scam.

CRITICAL NOTE: In December 2019, it was made public a significant number of facts that undermine completely the credibility of Kuetzal as a reliable P2P platform.

You can learn more details on this scandal on the following blog posts:

Based on these facts and the lack of reply from Kuetzal, I decided to start withdrawing my funds from the platform. I will share here the progress on funds recovery. I will not start a buyback guarantee since the projects I invested in seem legit. I’m also responsible for the decision to invest in such loans and was aware of the risk. If all investors start a massive buyback guarantee request, the platform will not have any other change as collapse.


Since I started investing at Kuetzal in March 2019 I was impressed with the returns. It was hard to believe that there is a possibility to invest in projects with higher than 20% annual returns and offering a buyback guarantee…

Critical Note: In October 2019, Kuetzal announced changes in its terms and services and also changes to the company management. I have been investing in the platform since I meet with the prior CEO, Alberts Cevers, and I’m canceling all new deposits until I’m able to understand what this change means for the platform.

WARNING MESSAGE: before investing, you need to be aware of the following information, that become available by the end of November, beginning of December 2019.

Kuetzal: Updated Terms & Conditions

On the same day, without prior notice, investors opening their Kuetzal platform faced new Terms & Conditions without any actual choice to refuse. After reading, nothing out of the ordinary when compared with any other P2P lending platform can be highlighted, stating the risks and avoiding any potential liability in relation to the loans presented, but once more, these bad practices in communication with investors must stop.

Just some of the pearls I hope everyone already is familiar in P2P lending platforms terms of service texts:

1.6. Permission for a User to make a loan request and assigning a risk category to it in the Portal does not constitute any of the following:

– the Portal Operator’s confirmation or any other indication that the Borrower is creditworthy;
– the Portal Operator’s confirmation that the relevant project is viable;

Kuetzal new Terms & Services

“1.7 … Among other, the Portal Operator may TERMINATE the operation of the Portal at its own discretion at ANY time.”

Kuetzal new Terms & Services

“1.8. The Portal Operator has the right to amend or supplement the Terms of Service and all other operating rules, guidelines and policies of the Portal (including the Privacy Policy) or lay down additional conditions, WITHOUT ADVANCE NOTICE.”

Kuetzal new Terms & Services

“5.5. The information prepared by a Borrower for borrowing funds is published to the Users in the Portal in its FULL EXTENT…”

Kuetzal new Terms & Services

“5.6 … The Portal Operator does not perform any due diligence of the Borrower or the Project.”

Kuetzal new Terms & Services

Scary, right? It should be! This is a good wake up call to confirm that any funds invested on these types of platforms are at risk and we should be careful before making the decision to invest.

Kuetzal: Alborg Petro Loan Issues | Potential Scam?

On December 10th, Oscar Harrington from ExploreP2P blog reported its findings regarding an investigation of one of the companies that received a loan through Kuetzal. You can find the report here. Based on the findings it is almost impossible not to consider such loan a fraud, even more taking into consideration the recent changes in the platform Terms & Services.

In reply to this report, Kuetzal quickly published a damage control message on their facebook page:

Alborg Petrol.
Recently one of the p2p bloggers has published an article about one of the loans listed on Kuetzal Platform- SIA Alborg Petrol company.
Going inside the article, several topics were raised regarding company’s activities, financials, actual presence in registered address etc.
We have to point out the fact, that:
There was a series of answers that were provided, quite a few of these argumentations are covered in the article.
While Kuetzal was analyzing this project, we have done a due diligence from our part. Information provided by the Alborg Petrol management was checked and confirmed. Company has proven their current partnership with well-known oil companies, bringing running and finished contracts as one of the proofs of their activities. Company is performing their deals mainly through their employees, agents and intermediaries, who are usually located all around the world, depending on the specific partner location.
A fact that Alborg Petrol is a small-structure company along with highly-competitive business area, business “addiction” from larger oil companies create additional risks for Alborg Petrol deal, and this is one of the reasons why project is offering 20.5% for Kuetzal investors, higher than average interest rate among Kuetzal projects. Kuetzal also contributed with 351.500€ in this project through Kuetzal Care as the project was not fully funded as requested by the company terms.
Kuetzal is continuing communication with Alborg Petrol representatives, currently we do not have neither financial or informational claims to the company.”

Kuetzal Facebook Page

As you can imagine, such communication just opened doors to more and more questions, that remain answered until now. The trust of the community is at risk and I imagine a significant number of investors will decide to leave the platform entirely.

Kuetzal: My Next Steps

Based on this new reality, I can only wait and see what will happen with Kuetzal, consider the platform as high risk and reduce my position in a gradual manner to a better risk/reward allocation within the portfolio. Only after careful evaluation of the next steps of the Kuetzal new management, I will decide if I should stop the process to slowly decrease my position during 2020.

Kuetzal @ Savings4Freedom

Kuetzal Account Update

Investment Start Date: March 2019

Total Deposits: 2.794,75€ (Dec 2019)

Asset Value: 3.009,29€ (Dec 2019) 

Recovered Funds: 0,00€ (Dec 2019)

Creating a Kuetzal investor account only took a few minutes. Registration is straightforward and the platform is very basic. Not too many projects available and the ones with high yield and buyback guarantee quickly disappear. The projects without buyback guarantee are kept open for a significant period of time, but if you invest, you will receive interest since the moment you invest.

Analysis TopicPersonal Take
13 - Type of Loans

Type of Loans Available

SCAM
1 - Interest Rate

Average Interest Rate 

~0%
2 - Buyback

Buyback / Secured Loans

Yes & No (deal by deal)
3 - Liquidity

Early Exit / Secondary Market

No
4 - AutoInvest

Auto Invest Feature

Not available
12 - Control Over

Control over Loans Invested

Yes, you choose
5 - Money Drag

Money Drag

No
11 - Hiden Fees

Hidden Fees

No
6 - Time

Loan Duration

1 year to 3 years
7 - Reporting

Reporting Tool

Medium Quality
8 - User Experience

User Experience

Medium Quality
9 - Rewards

Sign-up Bonus

I don’t recommend this platform.
In case you employ my referral link to invest in Kuetzal you earn 5€ in cash bonus and 0.5% on all investments over the first 180 days in cashback.
10 - Evaluation

Overall Evaluation

0/10*


*Reviewed on December 11, 2019 due to changes in management & core team + potential fraud issues)

My Kuetzal Account

Kuetzal Account @ Savings4Freedom

Kuetzal Income Graph

Kuetzal Returns @ Savings4Freedom

Kuetzal Asset Value Graph

Kuetzal Assets @ Savings4Freedom

Do you want to Invest?

Check among the P2P crowdlending opportunities available on Savings4Freedom, always taking into consideration that all information is entirely based on my personal experience.

Investe @ Savings4Freedom

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