New swaper CEO and further news

Peteris Kisis was announced last week as new Swaper CEO. He takes over the function of Iveta Bruvele (founder), who remains as CEO of wandoo finance group. As I pointed several times Swaper is the platform for funding wandoo finance’s activities. After Swaper had it’s successful launch back in November 2016 and is running it does make sense that Iveta detaches from the daily business and focuses on the strategic development of the wandoo finance group (and therefor swaper as well). She explained her decision in a short chat to me and is thankful that she gets support to free up some air to focus on the other projects. In my eyes this is a consequent decision. Her successor is a p2p pro as he gained his experience at Twino.

Swaper was no part of my top 10 as of 30.06.2017

I excluded Swaper from my semi annual top 10 back in June, although it was part of the top 10 six months earlier. The reason was that I was a little upset that loans from Spain and Denmakr were announced some months ago and neither showed up nor were actively postponed. One day after publishing my top 10 there were the first Spaniards on the platfrom. I really felt mighty due to my blog ;). Seriously, it was just a coincidence. This is just an example that patience pays out if you stick to something. Danish loans are still not on the platform, so at least we have something to look forward to. Maybe they will be added tomorrow after this post 😉 Althouhg the platform does not rank in the top 10 at the moment, I have to clarify that it is still a good platform with nice yields (14% for VIP’s, invest more then 5k and you are VIP). A little downer is that there is still to much demand over the available supply. My money is invested most of the times, but it sometimes happens that there is a litte cash balance over night. This is manageable as you might calculate it this way (14% x 0.9 = 12.6%) given 10 percent permanent liquidity (which is far off, 1% is much closer). If we compund the interest, we go over 13 percent easily (0.126^12). Register with Swaper here.

New “mobile” or app design

Ok, the design is not new at all, as it was released June 1st. Swaper always emphasises that their investors want mobile and app solutions, and this has been implemented with the new release. Everything is constructed for the mobile and app world. I do not really like that I have to swish on my desktop as I am viewing a mobile version 😉 But this is manageable as I don’t have to log in often to my account and do something.

Have a nice day. Post if you want to comment

Swaper – new loans and autoinvest settings

After some days gone by without any new Georgian short term loans, loans with longer duration (up to 24 months) were added on Swaper. These loans come with monthly installements, if no payment is received, or the contract amended, buyback will be triggered. It seems as a change in Georgian legislation made it necessary to move from one month loans, to longer durations. The interest rate remains at 12, respectively 14% for VIP’s, percent. You will become VIP status when you deposited at least EUR 5’000.

Get Swaper VIP status now

 

Autoinvest settings must be adapted

Before today there were only loans with a duration of 30 days and therefor it was not necessary to set a duration for the autoinvest. Of course this has changed. Now standardly a duration of 0 to 1 month is set. This means you need to change that setting in order to grab some longer term loans. I recommend doing this, as your overall chances are better to get loans if you include longer durations. In the picture below you can see that the duration can be chosen from 0 to 24 months now. You need to decide here which period is suitable for you. At the end we should be clear that most 24 month loans won’t go for the full duration, as the loan is bought back on amendements and if it is overdue for more then 30 days. Most of the loans will therefor have a shorter duration as anticipated.

Swaper Autoinvest Einstellungen
Swaper Autoinvest Settings

and a tipp for investing….

We all know that there a certain shortage of loan supply exists on Swaper at the moment. We seldom see loans on the platform, but this does not mean that there aren’t any. Lots of loans come in daily but are quickly absorbed by the AI’s.  An here is the free tip: Create several AI’s with different bidding amounts. So you can increase your chances. What is an AI with a bidding amount of 50 Euro worth, when there are loans which are smaller then 50 Euro? Correct, nothing 😉 I use this rule, and am nearly totally invested all the time.

At the end a short calculation example

Even though some cash is laying lazy around in your Swaper account sometimes, this is not that bad as expected. Look at this sample calculation: (assumptions: you are VIP = 14% yield, 10% on any day.). We are only invested to 90 percent, and therefor we get only 90 percent of the interest (14%) = 0.9 x 0.14 = 12.6%, what is not that bad after all. But as we are reinvesting, we can compund our return and get an annualised 13.35%. That is of course only an example, my average cash rate is somewhere near 1%. I hope you are not afraid by little cash balances anymore 😉

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If you have any questions, post them here or contact me. Happy investing.

 

Some news from p2p land

Today I have only some news and updates for you.

Swaper

With Swaper it always looks like there are no loans available. That’s not entirely true as new loans are added everday, but they get sucked in by the autoinvests. My money is always nearly completely invested. Within 4 to 6 weeks loans from a new country should be added to the platform and will increase the supply. I am not allowed to say which one at the moment. It won’t be Denmark, as they are looking for  staff there first. Denmark will follow after next. Visit Swaper.

Saving Stream will be named Lendy 

As I mentioned before Lendy ltd is the operator of Saving Stream. Now the platform will adopt the same name. Rumours say that the FCA made this one of some mandatory conditions for Saving Stream to obtain fully authorised status. There are no other changes at the moment, but maybe we will be confused by Lendy and Lenndy, the lithunian platform 😉

Twino to offer payment guarantee loans

Twino has announced to offer loans with a payment guarantee in the near future, an invention by Twino. These loans will always pay on due date, this will give some planning security to investors. That’s nice, but these loans are no invention by Twino. Omaraha uses this procedure on their secured loans and Lenndy on their buyback loans. Maybe Twino did not know that, or didn’t look so hard 😉

Estateguru is getting on my nerves, but the supply increases

Not really official news, but I have to get rid off it 😉 There is room for improvement for Estateguru in terms of investor communication. It takes days to get answers (if any) to emails and it looks like that late payers are handled with kid gloves . There are borrowers that pay their interest installment always late and it seems like as Estateguru is tolerating that. In the end I have to admit, that there is no default to date and all borrowers have paid up. As investor I cannot complain with the supply of new loans in the last 2 weeks. Nearly daily new loans are coming in and sometimes more then one per day. This is fantastic and hopefully sustainable.

A short interview with swaper CEO Iveta Bruvele

I was lucky and had the chance to get some answers directly from Swaper CEO Iveta Bruvele. Have a look at the questions and the interesting answers.

1) Iveta, Swaper was launched during October 2016. Did you meet your expectations until end of 2016? Could you let me know some milestones?We have actually reached results, which were higher than our expectations – at the end of 2016 we already had 742 347 Euros of investments and a cumulative offered portfolio of 982 000 Euros on Swaper.
Originations were also strong – only in December we have issued 1.3 million Euros in loans and this trend is continuing in 2017 – we expect total origination in January 2017 to be at least ~ 1.5 million Euros.

2) What would you describe as the biggest challenge in setting up Swaper?
When we were building the platform, our main goal was to make it accordingly to the needs of investors. We were collecting opinions and feedback of experienced investors opinion and feedback and very soon we realized

Iveta Bruvele, Swaper CEO

that instead of focusing on the web platform, we should be building the mobile application. What we heard from investors, is that they need an easy and online access to the current situation with their investments, clear and understandable overviews, possibility to have configurable push notifications, so the investor would have the possibility to decide what kind of information he needs and how often.
We launched the website version of the platform and after a short while we were the first P2P marketplace who launched the Mobile application.
Now we are completely redesigning our mobile application, again – based on feedback from our investors. You can expect an announcement from Swaper by the end of January, so stay tuned.
So to summarize our biggest challenge was to offer a product according to the needs of investors. And it’s still our challenge.

3) Will we see new countries added in 2017?
Yes, we are planning to launch 2-3 new countries in 2017.

4) Are there any major or minor updates/features we can expect?
Until the end of January – we are planning to launch a new version of the Mobile application. We have collected feedback from investors after we launched the Mobile App and improved it accordingly, so it will be more “investor friendly” for sure.
As I mentioned before, in 2017 we are planning to start issuing loans in additional 2-3 more countries. It will give our investors wider choice of investment possibilities on our platform. You can also expect different products, besides short term loans.
And by taking into consideration that the main part of our investors comes from such countries as Germany, Denmark, Estonia etc., we are planning to add possibility to make the investments in 3 more currencies besides EURos as well as to provide localization for our main markets, including support in native languages of our investors. We already have new German speaking colleague colleague in our team, so very soon our German speaking customers will feel it.
And many more new improvements will follow…

5) What are your goals for 2017?
From a financial perspective, our goal is to attract total Swaper platform investments of 12 million Euros and accordingly grow our lending business in our core markets accordingly. From a product perspective, we want Swaper to become something more than a platform for consistent income, we want to create a platform which would offer several financial solutions for our investors.

6) What about (expected) legislation changes in Poland and Georgia?
Now we comply with the new regulations and in the future we plan to diversify the portfolio of loan issuing countries to decrease the group’s reliability on regulatory stability in Poland and Georgia.
If we compare the process of how new regulations are implemented within the EU countries and Georgia – the difference is drastic. In Georgia new legislation comes into force within few days and practically with no time to make necessary adjustments. It makes it harder to react and adapt, but it is not impossible.

7) Is there anything else what you want my readers to be aware of?
I would like to thank all our investors who shared their feedback with us and had encouraged everyone to do so! We really do appreciate any comments and feedback, because it helps us to grow and learn new things.
And on 25th & 26th of January Swaper will be in Paris for the Paris FinTech Forum and on February 7 we will be in London for Finovate Europe 2017. If you are in town, come to visit us at our stand so we can have a chat.