MangoPay is our payment provider. They formed in France in 2013 from parent company Leetchi, who are a European electronic finance institution. So far they have more than 500 clients in 28 countries, and in 2013 handled more than €50 million in transactions. MangoPay create an individual client account for you as soon as you sign up to the CrowdLords site.
When you make a deposit or investment, that money is held in your ring-fenced client account until the property becomes fully funded. When a property fully funds, the money in your client account is transferred into the account of SPV. This SPV then transfers the fund amount to the solicitor so that they can process the acquisition of the property.
On your personal bank statements, you may notice that you have been debited by MangoPay, and not CrowdLords. This is nothing to be alarmed about - they are one of our trusted partners. Please note that your funds are not protected by the Financial Compensation Scheme and you do not have access to the Financial Ombudsman Service should you require any help.