Week 49 News Summary for P2P Investors

Week 49 News Summary for P2P Investors

P2P investing News summary - News about platforms and interesting articles

Here is some of the news I have received from the 19 platforms I am currently invested with. I also gather a number of interesting articles written about P2P, platforms, regulations, tools and how-to guides. I get a lot of news about P2P, so in this summary I try to filter away all the spam, promotions and everything that does not really deliver much nes or value to the reader. We are all busy, so I try to deliver a compact and filtered list of the most valuable, entertaining and educational P2P news I receive. Please let me know if you find these news summaries helpful, by commenting below. Any ideas for improvement is the comments are very welcome as well. 

For those of you who wants to keep updated, you can get the latest news from the previous week in this summary. If I missed something important, please comment and I will add it to the list. 

Kristaps Mors: Are all Mintos loan originators audited?

December 7
About a month ago there was a discussion in Telegram and CEO of Mintos made a bold claim – that all Mintos loan originators are audited. Is that really so? Kristaps Mors checked – read the full article below.

Here are the things he looked for:

  • Are financial reports in English?

  • Are they audited by reputable auditors?

  • Are the reports audited according to the International Financial Reporting Standards (IFRS)?

  • How often are financial reports published?

Mintos: We are renaming buyback guarantee to buyback obligation

December 5
At the very beginning of Mintos, we considered several names for the commitment from the lending companies to buy back loans in case of a borrower default. Eventually, the term “buyback guarantee” was chosen as we considered it a widely used legal term, understandable to all involved parties.

To more accurately describe the contractual obligation from the lending company and the risk involved when investing in loans, we’re changing the word “guarantee” to “obligation” on the Mintos platform and in our communication with investors.

  • Only the word “guarantee” is being changed, and the buyback concept remains as before.
  • The change of the words on the Mintos platform does not amend the legal agreements.

Mintos wraps crowdfunding campaign with largest amount ever raised in continental Europe

December 4
In a crowdfunding campaign that exceeded all expectations, Mintos set a new record on Crowdcube. During the 10-day stretch, Mintos attracted over 7000 equity investors and raised a total of €7.2 million, the largest amount ever raised in continental Europe.

“The results of the campaign are beyond all our expectations,” Martins Sulte, CEO and Co-Founder of Mintos commented. “While we did anticipate our community to engage actively in the campaign, little did we know that we would start breaking records right out of the gate. We would like to thank everyone who participated in the campaign. We are eager to continue working on our roadmap and start a new chapter with our new shareholders.”

Mintos raised €1 million within 15 minutes of opening early access to our community. Just over two and a half hours later, Mintos hit €3 million and eventually broke the record of the largest number of investors in a European (excl. the UK) campaign.

Crowdestor webinar - How was our 2020? How do we see our 2021?

December 4
This time, the webinar will be hosted by:

– Janis Timma, CEO
– Anatoly Putnja, COO
– Artur Geisari, head of SME

The webinar will summarize the year’s accomplishments, challenges and will provide insights into our next steps. The webinar will be held on the 10th of December at 15:00 CET.

The agenda for the webinar:
What has been done in 2020? How was our 2020?
– Project numbers and statistics – raised funding, new investors, new projects.
– Project financial statistics – repaid projects, current, and late payments.
– Technological advancements – automated scoring, secondary market.
– New business line – CROWDESTOR PAY, CROWDESTOR SME.
– Strengthening team – from 8 to 30 employees.
– How COVID-19 impacted our operations?

How do we see our 2021?
– New technological advancements – auto-invest, new CROWDESTOR design.
– Launch of CROWDESTOR PAY, connection with CROWDESTOR platform.
– Operational and financial projections.
– Licensing of CROWDESTOR.
– Launch of new 5 countries.
– How do we see industry tendencies?

Finfellas free virtual event about P2P Lending

December 3
Join the event on the 18th of December, 2020 and share, exchange your view on the future P2P Lending with the focus on consumer lending.

Conference is broken down into 3 panels:

   1) Platform Panel: Covid-19 Impact – What we learned from the pandemic and what we can expect from 2021?

   2) Loan Originator Panel: P2P Lending in challenging times – How Covid-19 changed our business?

   3) International Exchange Panel: P2P Lending Outside the Box – What is going on in the rest of the world?

Additionally, you will be able to grow your network with 1 on 1 meetups and engage with other participants and speakers and attend special Expo Booth’s.

We will look at how P2P Lending is being incorporated into the future vision of the alternative finance industry. We will also explore which institutions are best poised to leverage the opportunities of an industry that is growing.

Expect an exciting tour of the technologies, platforms. Listen to notable speakers from respectable companies like TwinoBondoraNEO Finance and Mintos just to name a few. We will be joined by P2P Lending players from USA, Europe and India. So do not miss your opportunity to connect and grow your wealth & knowledge.

PeerBerry reaches a new milestone by funding the highest amount of loans

December 2
In November of this year, PeerBerry reached a new milestone – last month, the PeerBerry investors funded 22.3 million EUR amount of loans, and it is the highest amount ever financed in one month in PeerBerry‘s history.
The platform fully returned to the pre-crisis levels in October. PeerBerry is entering a new level of growth since November this year. 

Still any good P2P platforms out there in the horrible year of 2020?

One of the questions I asked every single P2P platform I have visited was “How will you handle a crises or economic downturn?” This year we have seen what can happen first hand. Many P2P platforms have not been paying investors as promised. Some have even closed down. Some were exposed as scams. 

The four P2P platforms below have continued to deliver on their promises to me, and other investors, during 2020. Their terms have also not been changed too much and they have been paying good profits consistently during the whole corona crises. (More platforms have of course delivered what they have promised, but this is my top 4 list).

1. Estateguru

2. VIAINVEST

3. Peerberry

4. Bondora (Go & Grow)

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