Somewhat surprisingly last in November Aventus Group launched their own p2p marketplace Peerberry. Surprisingly because I did not expect more p2p marketplaces launching in Latvia as long as the regulatory environment is not fully binding. I really liked the platform from the beginning, as it already offered an autoinvest function and everything else looked nice. I guess this is the time for an update.
What happened during the last months?
Peerberry was further developped and some new external Loan Originators were added. Aventus therefor chases the path to become an open platform like Mintos or Viventor. Not like Viainvest, which uses its marketplace only for their funding needs. The financials of the loan originators added to Peerberry look reasonable, although most of them are relatively young.
The loan offering was also extended to more countries. Danish loans were ment to be sold at 11 percent but the investors luckily did not buy them at this rate. I guess 12 percent is the red line for lots of investors 😉 It is a good thing that it did not work out with lower rates, because the platform would go even lower with the next batch. Lower rates are ok with me, but not with unsecured payday loans. Real Estate deals like Estateguru is no problem for me to be below 12 percent. I guess the executives have now learnt their lessons, as the newest loan originator pays 13 percent from start.
You can see below an increase in monthly lending volume. Currently we are over 11 million lent so far. End of May there were 1354 investors which received about 55k Euro interest. This is a really good result for such a young platform.
Autoinvest and my yield
Just a hint about the autoinvest before I will talk a bit about my yield. The autoinvest seems to run only once a day, mostly by the end of the day. I notice that my funds are invested slightly before the day change. This is nice as my funds are then reinvested without cash drag. There were some days where my funds still needed a day or two to get invested, but this was due to the high loan demand.
My yield is shown as 12.43 percent in my dashboard. I cannot reproduce this figure, as I calculate my yields with the XIRR function. With XIRR I get below, but this has also to do with the XIRR function which is comparable only after 1 full year.I estimate my yield will be above 12 percent after one year.
During the next months we should see more development of the marketplace and welcome some more new loan originators. Follow me to Peerberry.