Mango Pay 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.
Mango Pay create an individual client account for you as soon as you sign up to the Property Moose 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 the relevant PM SPV. This SPV then transfers the fund amount to our 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 Mango Pay, and not Property Moose. 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.