FAQs: Upcoming Changes at Scramble

Q: Will there be a round in December?
A: No.

Q: Why is there no round?
A: Exciting changes are underway at Scramble. The transition is expected to be finalized in early January 2024. We're adopting an alternative model known as “loan claims assignment,” commonly used by major financial institutions. This ensures smoother cross-border lending, particularly beneficial for loans from an EU investor to a UK borrower, navigating different legal jurisdictions.

Q: What about my previous investments?
A: Everything is fine; repayments will happen as usual.

Q: Do I need to withdraw my money?
A: No. To keep your funds working and generating returns, all investors who keep their funds in their Scramble accounts from December 1st and invest them in the January 2024 batch will get an extra 2% reward in bonuses on top of their regular loans income. From the investment return perspective, this 2% reward is similar to keeping capital in a 24% annual return account for a month.

Q: Does this change mean I now have to learn how to use the “changed” Scramble?
A: Not really. Very little changes from the investor perspective. We keep the same financial terms, batch, interface, and monthly repayments. The changes affect legal documentation, not your day-to-day experience. We hope these changes will prove useful in better protecting the investors’ funds over time!

Q: When will I see the new documents?
A: Updated Terms of Use and other standard documents will be published during the first half of December 2023. These new documents will come into force with regard to all future loans on the platform. All existing loans are not affected by the changes.

Q: So all in all, is this a big deal?
A: This is an important milestone for Scramble and our valued customers! We’re growing, and Scramble now enjoys the trust of over 12,000 retail investors across Europe with over €3M in investor’s capital deployed to dozens of UK-based CPG brands. Given the customer interest, we continuously adjust our model to meet stricter expectations. Expect further changes in 2024 for investor convenience, opportunities for extra protections, etc.!