The collapse of the P2P lending industry in China and how to avoid the same in Europe

Hi Savings4Freedom friends!

Today I’m writing to you from Hangzhou, in China. I’m representing my company in an international competition and looking for new business opportunities. A beautiful city with more than 1000 years of history.

October was a strange month for Savings4Freedom. Due to personal reasons, I needed to withdraw a significant amount of funds from my portfolio. However, since I was predicting this particular need and kept the necessary funds on iban Wallet, I didn’t suffer any drop in my monthly S4F returns! The reason why I choose iban Wallet was exactly to allow me to have a small interest gain from my savings, but access to my funds immediately, without the need to sell loans or wait for liquidity.

By now, in case you follow the blog, you already know that I decided to set up a group of P2P lending investment principles. They have been crucial in supporting my decisions. Have you found yours? Let me know!

The Failure of P2P Lending Industry in China

Being in China, I decided to explore the reasons why, back in 2018, the local peer to peer industry collapsed, with significant losses to investors.

The Ezubao Scandal

Back in 2016, Ezubao one of the top 10 largest P2P lending platforms in China at the time, has been shut down and 21 executives have been arrested. Even though Ezubao only launched in July 2014, it quickly grew to attract hundreds of thousands of investors with promises of 9-15% returns.

The scale of the fraud was breathtaking. Around 900,000 individual investors have collectively been bilked out of US$7.6 billion, according to Chinese officials, in one of the largest Ponzi schemes ever conceived. It has been reported that an estimated 95% of all borrower listings on Ezubao were fraudulent. Meanwhile, the top executives used investor money to enrich themselves – spending on items and gifts including real estate, cars, and luxury goods.

From 2016 to 2018… More and more platforms…

But the industry rationalized this away as just one bad apple. The regulators announced new rules for the industry at the beginning of 2016 and there was a sense that the strong platforms would adapt and continue to perform well. And that is what happened for the next year or so. But by 2018 serious problems began to emerge. That year ended up being the year of reckoning for the industry.

The p2p lending industry had grown to around 4,000 platforms at its height which everyone agreed was not a sustainable number. The weak platforms were not going to make it but the trouble was as they failed they often took investor money with them. While there was definitely some fraud there were also cases of platforms that meant well but were simply unable to make online lending work.

Investors Guarantees and Losses

Many investors had put their life savings into a single P2P lending platform believing that their money was safe. Some platforms said they would guarantee investor principal and others implied they were backed by the government. What these investors did not understand was that once the platform went out of business these guarantees were worth nothing. But they truly believed the platforms should guarantee all these investments.

What Went Wrong?

Peer to peer lending was a failed experiment in China. It became so tainted by fraud and illegal activity that even the well-intentioned platforms have struggled.

When sourcing for responsibilities, the reason seems to go to a failure of the regulatory system. In 2013 the People’s Bank of China (PBOC) had identified many of the problems with P2P lending but did not do anything about it until it was too late. The reality is that it is really difficult to underwrite loans well. You need a lot of expertise, particularly when it comes to risk management, and only a small number of platforms fully realized this.

There was no signal of how trustworthy a platform was except for size and time on the market. So, there was a mad rush to grow very big, very quickly and there was little incentive to be a good actor. Many platforms that actually had effective risk management in place were overtaken (in size at least) by these young upstarts. It was a house of cards and in hindsight, it was no surprise that it all came crashing down.

What can we learn from it?

We need to actively ensure that the same mistakes don’t repeat themselves in Europe. It is our responsibility, as investors, to ensure we do proper due diligence and request greater transparency from the P2P industry. In a different approach, we need to push from decisive action from the regulatory bodies to establish a clear investor protection standard.

I truly want to see the P2P industry growth, but I believe everyone that reads the blog needs to be informed and consciously of the risks. Let’s learn from the Chinese experience and avoid painful surprises in the future!

What is your opinion on this subject? How do you plan your investment strategies to avoid too much risk? Let me know in the comments section.

But, without any further due, let’s check Savings4Freedom returns!


S4F Portfolio Update October 2019

You can see real screenshots of my accounts and my summary review of the platforms by checking my P2P platforms portfolio page.

Over the last month, I withdraw a significant amount of funds from my iban Wallet account. That is now reflected in my portfolio. I added new funds to my top choices: Monethera, Envestio, Kuetzal, Wisefund, Crowdestor and TFG Crowd. Grupeer and FastInvest are now on “maintenance mode” with small increments. I reduced my positions on Mintos, Viventor, and closed my P2P positions on Bulkestate, Lenndy, PeerBerry, Ekassa, and Debitum Network.

I justify the reasons to concentrate my investments and why I decided to close this particular P2P platform accounts below. I will continue to invest my savings into P2P lending investments, on the following Top personal P2P platform choices:

PlatformLoan TypeAverage Annual Interest RateBonus & Cashback
Monethera @ Savings4FreedomMonetheraEnterprise & Real Estate~18%In case you employ my referral link to invest in Monethera you earn 5€ in cash bonus and 0.5% on all investments over the first 90 days in cashback

SPECIAL CASHBACK BONUS: in case you use the promo code: savings4freedom, you will get cashback for 180 days instead of 90 days. This is a limited offer! Only the first 25 accounts to add this promo code enjoy this cashback bonus.
Envestio @ Savings4FreedomEnvestioEnterprise & Real Estate~16%In case you employ my referral link to invest in Envestio you earn 5€ in cash bonus and 0.5% on all investments over the first 270 days in cashback
KuetzalEnterprise & Real Estate~19%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
Wisefund Logo @ Savings4FreedomWisefundEnterprise & Real Estate~19%In case you employ my referral link to invest in Wisefund you earn 0.5% on all investments over the first 270 days in cashback
Crowdestate Logo @ Savings4FreedomCrowdestorEnterprise & Real Estate~15%In case you employ my referral link to invest in Crowdestor you earn 0.5% on all investments over the first 180 days in cashback
TFG Crowd Logo @ Savings4FreedomTFGCrowdEnterprise & Real Estate~15%No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!
Grupeer @ Savings4FreedomGrupeerEnterprise & Real Estate~13%In case you employ my referral link to invest in Grupeer you earn 1.25% on all investments over the first 6 months in cashback
Mintos Logo @ Savings4FreedomMintosConsumer~13%In case you employ my referral link to invest in Mintos you earn 1% on all investments over the first 90 days in cashback
FastInvest @ Savings4FreedomFastInvestConsumer~13%No bonus, but you can create your account using my referral link
Viventor @ Savings4FreedomViventorConsumer~12%No bonus, but you can create your account using my referral link
iban wallet @ Savings4Freedomiban WalletConsumer2.5%You can sign up and invest through my referral link you can join the iban Wallet referral program and get €25 for every invitee that invests more than €1000.

Make sure to add the referral code – RCARLOS3EG8D – when creating your account!

Bonus: Get a 5% in interest in your account by making a deposit until November 18 with the code: MXLOVE

Special Savings4Freedom Blog Bonus: until October 31st every S4F reader who joins iban Wallet and adds the promo code – TRYIBANNOW – and invests 200€ (or more) will get 1% bonus on their iban Wallet account for 3 months!

Note: this is a bonus which has a minimum deposit amount to be activated, this code needs to be inserted after the registration process, in the top up the account step. 
iban bonus @ Savings4Freedom


N26 account, Revolut, and Transferwise

I’m really happy with the way N26 Account simplified my portfolio management. With all the transactions between P2P platforms, it would be impossible for me to manage without the simple interface N26 offers. I highly recommend it!

My decision to follow the 3 buckets account approach is working:

  • One bank account for my daily expenses: Revolut;
  • One for my savings and emergency funds: National Traditional Bank;
  • N26 account to manage my P2P Investments.

This approach, combined with the use of Transferwise when I need to exchange currencies is simplifying my life and increasing visibility over all my transactions.


Monthly Income Statement: October 2019

PlatformInvested (€)Month Return (€)Asset Profit (€)Asset Value (€)
KUETZAL2.368,0432,54131,962.500,00
MONETHERA6.796,9891,50203,027.000,00
ENVESTIO4.894,0270,48605,985.500,00
WISEFUND2.983,8142,8355,283.039,09
CROWDESTOR1.987,478,7511,361.998,83
TFG Crowd1.500,0015,6920,541.520,54
FASTINVEST1.529,3416,0570,661.600,00
GRUPEER4.449,8253,16703,345.153,16
MINTOS-391,76-2,521.801.261.409,50
VIVENTOR1.547,7471,301.274,002.821,74
IBAN WALLET354,5550,43145,88500,43
ROBOCASH0,000,0075,230,00
BRICKSTARTER50,000,0015,5565,55
HOUSERS50,0050,3250,32100,32
EVOESTATE70,000,0030,00100,00
LENNDY0,000,0013,160,00
FINBEE21,67-0,77-1,3423,99
NEOFINANCE8,080,0025,9038,94
MONESTRO16,000,004,0020,00
CROWDESTATE0,000,0056,610,00
BULKESTATE0,0027,0071,500,00
EKASSA0,000,000,570,00
PEERBERRY0,000,005,410,00
DOFINANCE100,000,004,95104,95
ESTATEGURU100,000,000,00100,00
VIAINVEST9,610,9813,2322,84
REINVEST24100,000,00-2,0098,00
DEBITUM0,002,127,940,00
COINBASE20,004,0912,7532,75
BULLIONVAULT1.038,28-7,63305,061.343,34
BONDORA0,000,000,500,00
FLENDER0,000,000,000,00
RENDITY0,000,000,000,00
PROFITUS0,000,000,000,00
COINLOAN0,000,000,000,00
BITBOND0,000,000,000,00
PREPAYWAY0,000,000,000,00
 TOTAL29.603,65526,325.712,1235.071,13

To get a comparative analysis based on my personal opinion about multiple other platforms, please check my P2P lending platforms comparison page.


P2P Lending Portfolio Performance

Since I first started investing in P2P lending, my returns from crowdlending totals €5.394,31 (€529,86 in interest during October 2019). More than €500 for the first time! Yupi! 🙂

I’m truly impressed with the impact of compounding interest in the growth of my P2P portfolio. Even after withdrawing a significant amount of funds in October 2019, my portfolio performance was not affected.

In October 2019 I needed to use a significant amount of funds for personal reasons. The reason why I choose iban Wallet was exactly to allow me to have access to my funds immediately, without the need to sell my position or wait for liquidity.


Kuetzal

Kuetzal @ Savings4Freedom

Another simple month investing in Kuetzal. New projects released with one of them offering a 19% interest rate for a period of 12 months. Quickly disappeared since it received the required funding.

I added a small amount to my Kuetzal account and received all scheduled interest rates on time. I hope to see more projects on Kuetzal soon since other competitive P2P platforms are offering a viable alternative and my savings allocation will quickly reflect this reality.

Kuetzal Update

Recently Kuetzal informed investors who participated in SIA “ALPA Buve” (deal #0014), that the company promoting the construction project is dealing with a civil legal process with one of the suppliers. Kuetzal shared information regarding the steps developed to ensure that no problem will be faced by the project investors.

This type of situation reminds me to pay close attention to the promoters. For example, this same promoter has many other projects financed through Kuetzal. Taking into consideration diversification also means paying close attention to this particular piece of information.

I appreciate this type of transparency and communication from Kuetzal. I hope this procedure continues in the future. Regular updates on project execution are also welcome! This effort contributes to my trust in the platform and its management team.

In the meantime, I received private information about this particular project promoter, that has other projects available on Kuetzal, but before sharing it on the blog I want to collect more data and confirm with other sources.

Kuetzal Cashback & Bonus

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.

Check my Kuetzal account here.


Monethera

Monethera @ Savings4Freedom

This was a very special month for Monethera! A lot of new projects and the first repayment of the principal of a specific loan with success. Monethera continues to offer me a great investing experience. Clearly my preferred P2P platform at the moment: good projects, descriptions, and financials that allow me to make informed decisions to invest.

What have been your experiences investing in Monethera loans until now? Please share it with the community in the comments section.

With the growing number of investors in Monethera I don’t expect this reality to be maintained for long.

Monethera offers among the best interest rates in the business with buyback guarantee. One of the things I really like in the platform is that from the moment you invest in a Monethera project, you immediately start receiving interest. I took full advantage of the initial cashback offer. Not available to me anymore, but check the bonus section to learn how you can double the duration of your initial cashback period!

Monethera Updates

Monethera: First Project Principal Repayment

On November 1st, Monethera announced that “Transportation of Lumber” project has been successfully finished. It was a 3-month project and the principal amount repayment has been made on time. I hope this became the norm on Monethera loans.

Monethera: Growing Number of Investors

The number of investors is growing and at the beginning of November, Monethera shared that they currently have 1469 investors, from 913 in October.

Monethera Cashback & Bonus

In case you employ my referral link to invest in Monethera you earn 5€ in cash bonus and 0.5% on all investments over the first 90 days in cashback.

SPECIAL CASHBACK BONUS: in case you use the promo code: savings4freedom, you will get cashback for 180 days instead of 90 days. This is a limited offer! Only the first 25 accounts to add this promo code enjoy this cashback bonus.

Check my initial review on Monethera and details on my account here.


Envestio

Envestio @ Savings4Freedom

Envestio is facing a new challenge. After months of expectation from investors to have available now loans, now that the company was able to close the deal and make available large loans to investors, they are taking some time to receive all necessary investment required.

A nice problem for Envestio to manage for sure, but also a consequence of their loan release policy. The Envestio team needs to make sure investors are informed beforehand in order to plan their assets allocation in a proper manner. It is also critical that Envestio makes clear to investors if a loan is a full amount required or if the borrower needs additional funds by tiers… and not release all tiers at once!

To summarize, it is clear that the partnership presented by the Envestio team is bringing more investment opportunities to the market. Happy to see that, now I expect the Envestio team to improve the process to make investments available in the platform to investors!

After reducing my position on Envestio in August, due to a lack of investment offers at the time, I reinvested during October and expect to continue to do so over the next few months, if the platform keeps delivering value. I’m still “suffering” from my withdraw in the platform income but hope to overcome this effect soon.

Envestio: Investment Strategy

Check my investment strategy for Envestio in the article below.

Envestio Cashback & Bonus

In case you employ my referral link to invest in Envestio you earn 5€ in cash bonus and 0.5% on all investments over the first 270 days in cashback.

Check my Envestio account here.


Wisefund

Wisefund Logo @ Savings4Freedom

A lot of projects last month on Wisefund. I promised a review last month, but only this week I got the answers to the questions I made to the Wisefund team. Looking forward to writing my initial review soon.

Wisefund presents itself as a P2P lending platform within the successful model of other platforms such as Envestio, Kuetzal or Monethera. Good projects, descriptions, and financials to make an informed decision to invest.

In an environment where P2P platforms such as Mintos, Grupeer, FastInvest, and Viventor offer auto-invest options with interest lower than 13%, P2P platforms that offer all the decision power to select projects to invest, with higher interest rates in enterprise loans gain a growing relevance.

Wisefund offers among the best interest rates in the business with buyback guarantee. All repayments schedule is visible and you can plan your next investments having this information into consideration.

Since I was looking for alternatives to diversify my portfolio distribution, while increasing the average interest rate on my savings, Wisefund is a great addition to Savings4Freedom.

Wisefund Updates

Wisefund: 2 Million euros in funded loans

In less than one month Wisefund announced that they have successfully funded another €1M in loans in their P2P Platform, after the same announcement for the first months of operation in October. Rapid growth for such a recent P2P Platform.

Wisefund: Growing Number of Investors

Wisefund is growing the number of investors in the platform and following a quite parallel with the growing number of investors in Monethera. They currently surpassed the 1425 investors mark.

Wisefund Cashback & Bonus

In case you employ my referral link to invest in Wisefund you earn 0.5% on all investments over the first 270 days in cashback.

I will work on an initial review about Wisefund and share it on the portfolio page during this month.


Crowdestor

Crowdestor Logo @ Savings4Freedom

The Crowdestor projects are something to really feel like a speculative investor. As I shared with you on my last update, Crowdestor will not assume a relevant place for now on my portfolio for a very simple group of reasons:

  • No buyback guarantee available (just a provisional buyback fund that is far from covering any project individually). Right now the value of the buyback fund is €143,301.94 (a ridiculous amount is you want more save investments);
  • The cross-debt, ownership participation of the Crowdestor CEO in companies that receive funding from projects available on the platform.

I will need to research further, but just these two elements will mark any deposit I make in Crowdestor as my speculative investment on the Savings4Freedom portfolio. In any case, there is space for such type of offer on my portfolio and I place Crowdestor as my speculative P2P platform.

I don’t believe to be far to compare Crowdestor with other P2P platforms that state full buyback guarantees, such as Wisefund, Envestio, Kuetzal or Monethera. But it is great to see interesting projects, with good descriptions. I would like to have additional financial details to truly assess and estimate the risk and make a more informed decision to invest.

Above you can check the type of speculative projects available on Crowdestor. The platform received some criticism for not sharing full information regarding the Mafia Stars project. They presented for funding the same project last month and now investors are surprised to see a Tier 2 associated with it. For sure this will have an impact on the “success fee” that could trigger the additional interest return.

Another aspect to consider before investing in Crowdestor projects is that for this particular type of project you have very different repayment plans: from one year without payment with bullet payment by the end of the loan maturity to other modalities that actually increase your investment risk.

Note: For those two particular projects, you still can invest. They remained open until the moment I was writing this update.

Crowdestor offers an impressive number of investments over time, with great interest rates. All repayment schedules are visible and you can plan your next investments having this information into consideration.

Crowdestor Cashback & Bonus

In case you employ my referral link to invest in Crowdestor you earn 0.5% on all investments over the first 180 days in cashback

I will work on an initial review of Crowdestor as soon as I have the necessary time and information.


TFG Crowd

TFG Crowd Logo @ Savings4Freedom

As shared on my last update, TFG Crowd is another case where I still have mixed feelings. Exactly as Crowdestor, TFG Crowd will not assume a relevant place for now on my portfolio, since it does not offer buyback guarantee. TFG Crowd just has available a provision fund that is far from covering any project individually. Right now the value of the buyback fund is €104,000.00 (a ridiculous amount is you want more save investments).

I will need to research further, but the reality described above marks any deposit I make in TFG Crowd in the same manner as in Crowdestor: my speculative investments on the Savings4Freedom portfolio.

The projects are interesting, based in the UK, that currently are facing some problems among their P2P lending platforms, but these particular projects look well structured and with good business rational. The interest rate is also relevant for the comparison and TFG Crowd does not come bad as well in that particular metric.

TFG Crowd clearly needs to improve some of the platform capabilities to provide visibility over repayment to investors. I’m curious to learn how the platform will evolve in the future.

TFG Crowd Cashback & Bonus

No bonus for new investors, but you can create your TFG Crowd account using my referral link and support the blog this way. Thank you!

I will work on an initial review of TFG Crowd as soon as I have the necessary time and information.


FastInvest

FastInvest @ Savings4Freedom

Smooth month in my FastInvest position. Small investment increment, small return increment. I like the platform. I like their highly professional marketing approach, but I really don’t like the lack of transparency regarding loan originators.

I must confess that I’m growing tired of the lack of information regarding loan originators. When you work with some of the most risk-prone consumers in Europe, such as Spain and Poland, you really need to know about the loan selection process and due-diligence to secure payments.

With other alternatives more rewarding than FastInvest available on the market, it will be really hard to keep investing in the platform without more transparency from their part. The availability of viable P2P platform alternatives to invest in (Wisefund, Envestio, Kuetzal, Crowdestor or Monethera), especially in enterprise loans is leaving me no choice as to simply maintain my position on FastInvest with small increments to ensure I maximize potential return.

FastInvest Cashback & Bonus

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my FastInvest account here.


Grupeer

Grupeer @ Savings4Freedom

My returns from Grupeer continue their steady growth and I consider it among the most reliable fixed interest returns assets I owned. I’m still trying to see the impact of the recent decision to prepare all service terms and agreements to accumulate loans provided by loan originators without buyback guarantee to answer the competition in my investments.

Based on this reality, I probably will start looking towards Grupeer in the same manner as Mintos. If the trend becomes similar, I will decide if it justifies continuing growing my portfolio in the platform.

After reducing my position on Grupeer in July, due to the repayment of a big number of loans, I started reinvested during August and expect to slowly continue to do so over the next few months, if the platform keeps delivering value. I’m still “suffering” from my withdraw in the platform income but hope to overcome this effect soon.

Grupeer Updates

Grupeer: Changes in Loan Originators & Rating

Grupeer announced three new loan originators on the platform: DoZarplati, Epic Cash, and Lion Lender. But also relevant, Monify and Grupeer (the first loan originator to work with Grupeer) have stopped their collaboration with immediate effect. Curious to learn more about the reasons behind this decision, even if the announcement was written in the most kind manner possible.

Not sure of some of the new additions to the Grupeer loan originators portfolio. Only time and due diligence will tell.

Grupeer also announced the loan originator rating feature, which shows the relative risk level of Grupeer loan originators. Remember that this is a marketing tool, as well as one additional element to consider before investing. Grupeer states that the rating measures the reliability level and helps them to manage the risks of their portfolio of offerings. But some of the evaluations are quite strange. Check the list and judge for yourself!

Grupeer October Platform Update

Grupeer shared the update for October and the numbers continue the positive trend: 2600 new investors in the platform, €6.1 million invested in loans and 13.36% average interest rate with cashback.

I would prefer that Grupeer continue to use the same metrics from previous months, so we could actually compare and calculate trends…

It is clear that with the growing number of investors in the platform it’s becoming more difficult to provide loans with the interest rates that lead me to invest. But I prefer lower interest rates than lower loan evaluation criteria! The fact that investors are leaving Mintos should be related to this new reality.

Grupeer Cashback & Bonus

In case you employ my referral link to invest in Grupeer you earn 1.25% on all investments over the first 6 months in cashback.

Check my Grupeer account here.


Mintos

Mintos @ Savings4Freedom

This last month, for the first time, I need to report a negative return from Mintos. Small as it is, the full responsibility is mine. Back in 2018, when I was first exploring the platform I decided to give a try to the secondary market. I bought some non-performing loans with discount and waited to expect them to be repaid. My mistake at the time was that all of them were without a buyback guarantee. Last month the first loan was considered defaulted and my investment marked as lost.

If I was not the person responsible for such an acquisition, I would be more unhappy. But, as always… let’s look at it as another painful lesson of want not to do in the future!

As reported in multiple updates now, I’m reducing my position on Mintos. The raise of great alternatives that offer me higher profitability and control is only the tip of the rationale for my recent move.

I don’t expect more negative months, but my Mintos portfolio returns will be smaller from now on, based on my consistent withdraw of funds.

Mintos Updates

Mintos: Rapido Finance Default & Other LO issues

Mintos just announced that Rapido Finance (prior knew as EuroOne) is on the road to receive a default note from Mintos. The loan originator was already suspended from the Mintos Primary and Secondary Markets due to the loan originator’s failure to make timely payments to investors.

This is becoming a trend form Mintos loan originators, and as discussed in the beginning of this update, we don’t want to repeat the Chinese P2P market mistakes.

What is your take on Mintos approach to dealing with non-performing loan originators?

Another Aforti Finance Update: Buyback Guarantee

Let’s go back and check Mintos last post on the subject, that addresses a very important point: the Mintos buyback guarantee.

What follows is a direct copy from Mintos blog post:

“Among comments on Aforti Finance, we also saw misconception that the buyback guarantee is a measure of safety put into action as soon as there are indications of loans underperforming. However, this is not true. The buyback guarantee is the loan originator’s commitment to repurchase non-performing loans from investors that are 60 days past due and is exercised by loan originator only in this case. The loan originator’s ability to fulfill the buyback guarantee depends primarily on its loan performance, with its balance sheet strength adding an extra layer of assurance. Mintos assesses both these aspects in the initial due diligence and during the continuous monitoring of the loan originators. 

The buyback guarantee does not imply the absence of risk, though. In case the loan originator’s loan performance and/or financial performance significantly deteriorates, the loan originator may not be able to honor the buyback guarantee.

Some investors have asked why the group guarantee has not been activated in the case of Aforti Finance. The effectiveness of the guarantee would depend on the guarantor’s ability to immediately settle the amounts due. With Aforti continuing to make payments, we believe requesting to exercise the guarantee would not be in the best interest of investors”

Mintos blog post on Aforti Finance

Once again, my understanding is that Mintos is addressing this issue in the worst possible manner. I must confess that this is the type of activity that turns down my willingness to continue investing in Mintos. I will continue to withdraw my funds from the platform.

Mintos Cashback & Bonus

In case you employ my referral link to invest in Mintos you earn 1% on all investments over the first 90 days in cashback

Check my Mintos account here.


Viventor

Viventor @ Savings4Freedom

Viventor is surprising me with the resilience of the monthly returns, even after multiple months of successive withdraws. I’m committed to my strategy to reduce my position on Viventor.

I expect in the next few months to start seeing the implications on the platform returns of my strategy. If you check the account performance, it is taking far longer to receive the payments from my 30 days loans than desired. The opportunity cost is significant and the issues reported from Mintos loan originators are similar in Viventor.

Viventor: Account Performance

As described above, the performance of my Viventor account is surprising to me. I believe this behavior is entirely associated with delayed payments of interest, so in fact, it represents the opportunity cost from past months! Check the image below to see how the great majority of my funds represent delayed payments.

As you can see, my prior strategy of investing in 30-day loans represented a huge opportunity cost for non-timely payment. Less than 10% of my loans are current, with the great majority showing more than 30 days delay.

This reality is driving my decision to reduce my Viventor position.

Viventor Cashback & Bonus

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my Viventor account here.


iban Wallet

iban wallet @ Savings4Freedom

Last month I needed to mobilize my available funds on iban Wallet for personal reasons. A seamless process to withdraw my funds and having them available on my bank account up to three days after.

Even if I withdraw almost all funds in the account, I was surprised by the performance of the platform during October. Thanks to the Savings4Freedom community, since some of you created accounts using my iban Wallet referral link, I received some bonus that pushed the income stats. Thank you so very much!

iban Wallet Updates

iban Wallet Blog Post

iban Wallet addressed me an invitation to write as a guest writer in iban Wallet blog. The result of my second attempt was: “Low-Interest Rates: How Fintechs can help you navigate this environment and help you thrive“.

You can find the article here: Low-Interest Rates

Please feel free to let me know in the comments below your opinion.

iban Wallet Cashback & Bonus

You can sign up and invest through my referral link you can join the iban Wallet referral program and get €25 for every invitee that invests more than €1000.

Make sure to add the referral code – RCARLOS3EG8D – when creating your account!

Open your account and deposit €2.000 or more to earn €50 bonus. Use the promo code “START50” when you top up. Promotion valid until October 31st.

Special Savings4Freedom Blog Bonus: until October 31st every S4F reader who joins iban Wallet and adds the promo code – TRYIBANNOW – and invests 200€ (or more) will get 1% bonus on their iban Wallet account for 3 months!

Note: this is a bonus which has a minimum deposit amount to be activated, this code needs to be inserted after the registration process, in the top up the account step. 

iban bonus @ Savings4Freedom

Check my initial review on iban Wallet and details on my account here.


Robocash

Robocash @ Savings4Freedom

I closed my Robocash account last September.

Robocash Cashback & Bonus

If you sign up and invest through my referral link, you will get a %1 bonus on all your investments in Robocash during the first 3 months.

Check my Robocash account here.


Why in the future I will close my investment positions on these P2P Platforms?

PlatformLoan TypeAverage Annual Interest RateReason / Bonus & Cashback
BrickStarter Logo @ Savings4Freedom
Brickstarter
Real Estate~10%Low-interest rates for investment risk. No monthly repayment option or secondary market available. You are stuck until maturity.

In case you employ my referral link to invest in Brickstarter, add the Promo Code “BRICKS” to earn 15€ in cash bonus and 0,5% in cashback for your investments during the first 90 days
Housers Logo @ Savings4FreedomHousersReal Estate~7%Low-interest rates for investment risk. No monthly repayment option or secondary market available. You are stuck until maturity.

In case you employ my referral link to invest in Housers you earn 25€ in cash bonus 1 month after your first €50 investment. Add the promo code “PROMO AMIGO

Special October Cashback:
THE SPECIAL 50€ TELL A FRIEND PROMOTION IS BACK! instead of €25, you will get €50 if you create your account using the link above until 30.10.2019
Swaper Logo @ Savings4Freedom
Swaper
Consumer~12%Low-interest rates for investment risk. Lack of a stable source of loans over a long timeframe.

In case you employ my referral link to invest in Swaper you earn an extra 2% on all investments over the first 3 months (valid until 02.11.2019)
BitofProperty Logo @ Savings4Freedom
BitofProperty
Real Estate~7%Low-interest rates for investment risk. No monthly repayment option or secondary market available. You are stuck until maturity.

In case you employ my referral link to invest in BitofProperty you earn 10€ in cash bonus after your first investment
Lenndy logo @ Savings4Freedom
Lenndy
Consumer~12%Low-interest rates for investment risk. Significant delays in short-term loan repayment.

In case you employ my referral link to invest in Lenndy you earn 10€ in cash bonus after your first 100€ investment
EvoEstate Logo @ Savings4Freedom
EvoEstate
Real Estate~12%Great idea for beginner investors, but no significant value for more mature investors.

In case you employ my referral link to invest in EvoEstate you earn 15€ in cash bonus after your first investment
Finbee @ Savings4Freedom
FinBee
Consumer & Enterprise~22%Lack of investment protections. High defaults rate and hidden fees when selling loans.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my FinBee account here.
NeoFinance @ Savings4Freedom
NeoFinance
Consumer~20%Lack of investment protections. High defaults rate and incredible high hidden fees when selling loans. I truly don’t recommend inexperienced investors to choose this platform.

If you create an account and invest in NeoFinance using my referral link, you gain 25€ as a sign-up bonus.

Check my NeoFinance account here.
Monestro @ Savings4Freedom
Monestro
Consumer~20%Lack of investment protections. High defaults rate and hidden fees when selling loans.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my Monestro account here.
Crowdestate @ Savings4Freedom
Crowdestate
Enterprise & Real Estate~7%Recent delays in repayments. No buyback guarantee.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my Crowdestate account here.
BulkEstate @ Savings4Freedom
Bulkestate
Real Estate~11%No monthly repayment option or secondary market available. You are stuck until maturity.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my BulkEstate account here.
Ekassa @ Savings4Freedom
Ekassa
Consumer~12%Low-interest rates for investment risk. Significant delays in short-term loan repayment.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my Ekassa account here.
Peerberry @ Savings4Freedom
PeerBerry
Consumer~11%Low-interest rates for investment risk. Significant delays in short-term loan repayment.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

PeerBerry’s Loyalty program:
Silver: From 10 000 Eur of active investment portfolio (earn +0,5% for future investments)
Gold: From 25 000 Eur of active investment portfolio (earn +0,75% for future investments)
Platinum: From 40 000 Eur of active investment portfolio (earn +1% for future investments)

Check my PeerBerry account here.
DoFinance @ Savings4Freedom
DoFinance
Consumer~9%Low-interest rates for investment risk. Strict rules regarding investment periods that generate huge opportunity cost if not considered. Lack of transparency regarding the actual duration of the investments made.

If you sign up and invest through my referral link, you enjoy VIP status offer which gives an extra 1% yield on all your investments in DoFinance during the first 3 months.

Check my DoFinance account here.
EstateGuru @ Savings4Freedom
EstateGuru
Real Estate~11%Lower interest rates. No monthly repayment option or secondary market available. You are stuck until maturity.

If you sign up and invest through my referral link, you will get gain 0.5% cashback on every investment made on EstateGuru over the initial 3 months through my referral link.

September Campaign: EstateGuru offers a 0,5% cashback on all investments starting from €1000, and a 1% cashback on all investments starting from €10 000 made into loans displaying the Cashback sign from August 28 till September 30.

Check my EstateGuru account here.
ViaInvest @ Savings4Freedom
ViaInvest
Consumer & Enterprise~9%Low-interest rates for investment risk. Significant delays in short-term loan repayment.

If you sign up and invest through my referral link, you will get €10 bonus after your first investment of €50 in ViaInvest.

Check my ViaInvest account here.
Reinvest24 @ Savings4Freedom
ReInvest24
Real Estate(undefined)Lack of returns for a significant timeframe. Low-interest rates for investment risk. No liquidity on assets.

Special September cashback for all investors using my referral link, valid from 9/9/2019 until 23.9.2019

Cashback % levels:
0,5% Cashback from total of 100 – 999 EUR gross investments
1% Cashback from total of 1000 – 9999 EUR gross investments 
1,5% Cashback from total of 10000 – 19999 EUR gross investments
2% Cashback from total of 20000 – 29999 EUR gross investments
2,5% Cashback from total of 30000 – 39999 EUR gross investments
3% Cashback from total of 40000 – … EUR gross investments

Check my ReInvest24 account here.
Debitum @ Savings4Freedom
Debitum Network
Crypto & Enterprise~10%Low-interest rates for investment risk. Significant delays in short-term loan repayment.

If you sign up and invest through my referral link, you will get €10 bonus after your first investment of €250 in Debitum.

Check my Debitum account here.
Flender @ Savings4Freedom
Flender
Enterprise~9%Low-interest rates for investment risk.

You can create a Flender account using this link and gain 5% cashback in all your investments for the first 120 days.
Rendity @ Savings4Freedom
Rendity
Real Estate~7%Low-interest rates for investment risk. High value for each investment, starting at €500.

You can create a Rendity account using this link and gain €25 as a sign-up bonus.
Profitus @ Savings4Freedom
Profitus
Real Estate~10%Low-interest rates for investment risk.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!
CoinLoan @ Savings4Freedom
Coinloan
Crypto~11%Low-interest rates for investment risk. Speculative since associated to crypto-assets.

You can create a Coinloan account using this link and gain 1% in cashback during the first 90 days.
BitBond @ Savings4Freedom
Bitbond
Crypto~13%Low-interest rates for investment risk. Speculative since associated with crypto-assets.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!
PrepayWay Logo @ Savings4Freedom
PrepayWay
Crypto(undefined)Still waiting for the P2P lending platform release.

You can check these conditions and join the InBit token sale using this link.
Bondora @ Savings4Freedom
Bondora
Not transparent(undefined)Lack of transparency.

No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!

Check my Bondora account here.

Now you understand the reason why I need to focus my P2P investments on fewer platforms!

Other Assets on Portfolio

Coinbase

Coinbase Returns and Assets Value @ Savings4Freedom

If you sign up and invest through my referral link, you will get €9 bonus after your first investment of €90 in Coinbase.

Check my Coinbase account here.

BullionVault

BullionVault Returns and Assets Value @ Savings4Freedom

You can create a BullionVault account using this link.

Check my BullionVault account here.


S4F Next Steps

I will continue to concentrate my P2P lending efforts into my top P2P lending platforms choices but continue to test new P2P Crowdlending platforms in order to assure that I’m maximizing my potential returns!

This is all about October!

Thank you so much to all that are sharing opinions, comments, and suggestions with me over the email ([email protected]). I’m always looking for ways to improve the blog and my investment strategy.

If you enjoyed this post, please hit the like button below and/or share it with your friends. Thanks for the support!

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