❓ What is a Woveo Credit Group?
A Woveo Credit Group is a community-based lending model where members contribute funds into a shared pool and take turns receiving lump-sum payouts based on a set schedule.
❓ What is the difference between secured and unsecured credit groups?
Feature | Secured Group | Unsecured Group |
Payout Guarantee | Yes – backed by Woveo to ensure payout even with late contributors | No – payout depends on members contributing on time |
Availability | Only for verified communities | Available to all Woveo users |
Ideal Use Case | Rent, tuition, asset purchase, urgent bills | Savings, casual borrowing, group experiments |
Platform Support | High-touch – includes intervention tools | Self-managed by group members/admin |
Admin Requirements | Must complete KYB and ongoing reporting | No formal process required |
❓ Why would a community choose a secured group?
Secured groups offer peace of mind—especially for time-sensitive needs. Woveo steps in to bridge shortfalls so payouts aren’t delayed.
❓ How does Woveo protect payouts?
Through a platform-managed security mechanism, Woveo covers gaps caused by late contributions or failed transfers so that group members can receive their scheduled funds on time.
❓ What does it cost to have a secured group?
Verified communities are enrolled in a monthly platform/portal fee. Interested communities can contact Woveo to learn more and apply.
❓ Can unverified communities upgrade?
Yes! Communities can apply to become verified and gain access to secured groups and other advanced features.
❓ Where can I get support?
Contact Woveo via in-app chat or email support@woveo.com to begin your verification or troubleshoot a credit group issue.
🚑 Support Channels
Email: support@woveo.com
Phone: (825) 800-0995