P2P lending 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 lending, platforms, regulations, tools and how-to guides. I get a lot of news about P2P lending, so in this summary I try to filter away all the spam, promotions and everything that does not really deliver much useful information 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 lending 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: TFG Crowd investment plans - secured by 1 GBP?
The TFG Crowd offer looks very much like the IBAN Wallet scam, but with 7x higher interest rates. IBAN wallet “investment plans” offered return from 2.5% to 4%, and TFG Crowd offers returns from 14% to 26%. Investors don’t know if their money is even invested and the security is a joke. Thank you Kristaps, for another entertaining investigation.
Kristaps Mors: IBAN Wallet review - 100% scam! Stay away!
I think it must be clear by now that you should stay far away from IBAN Wallet. I am pretty disappointed that Target Circle / Circlewise affiliate network still have the IBAN Wallet offer active on their platform. WTF? It is also sad to see that some bloggers still have active affiliate links to IBAN Wallet at this time. This is the fourth article in the IBAN Wallet series from Kristaps.
Mintos wins AltFi’s "People’s Choice Award for the 5th time
Mintos marketplace is the winner of AltFi’s “People’s Choice Award” also in 2020! This is the fifth year in a row that Mintos is winning this recognition with the help from the Mintos community. Nearly 4,000 voters took part in the voting for the “People’s Choice Award” this year, majority of them voting for Mintos, helping them reach the record milestone as they won this award for the fifth consecutive year (2016, 2017, 2018, 2019, 2020).
On a personal note, I did not vote for Mintos to receive this award. The majority of their investors did not. Less that 4000 votes is really not super impressive, when you look the huge number of investors on the platform. It is easy to win a award like this with such a huge community compared to other platforms. They can still easily win, even if the majority of investors are dissatisfied.
See the result from the TWINO investor satisfaction survey
To measure investor satisfaction and determine what TWINO lenders think about the features and the company’s overall progress, TWINO recently carried out an investor survey. Several areas for improvement have been identified. Around half of the TWINO survey respondents are mature investors contributing to the P2P lending sector for three to five years (42%) or even more than five years (10%). See the summary of the TWINO lenders survey in the article below.
EVOestate introduces HeavyFinance “Alternative” deals on the platform
HeavyFinance from Lithuania, who is also a portfolio company of Startup Wise Guys and is authorised and regulated by the Bank of Lithuania, now have offers on the EVOestate aggregator. The only reason why this originator has not reached A rating is that they do not use SPVs for their investments. EVOestate have been following their progress since June this year and they now introduce them to you with a short interview. Laimonas, who in 2015 established one of the first P2P platforms in the Baltic States – Finbee, leads the team behind HeavyFinance.
Reinvest24 website and blog is now available in Spanish!
Are you a Spanish investor interested in P2P investment projects backed with real estate? The Reinvest24 website is now fully available in the Spanish language! Apart from using the website in Spanish, now you are able to read the archive of our incredible blog articles in Spanish as well.
Which P2P lending platforms delivered as promised to investors during 2020?
One of the questions I asked every single crowdlending platform I have visited was “How will you handle a crises or economic downturn?” This year we have seen what can happen first hand. Some P2P lending platforms have not been paying investors as promised. Some have even closed down. Some were exposed as scams.
The four P2P lending 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).