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Peerberry is a brandnew p2p marketplace which offers short-term payday loans with 12% yield and buyback. At the moment there are Czech and Polnish loans available.
Who is behind the platform?
Peerberry ist the name of the marketplace AV Marketplace SIA which is located in Riga, Latvia. This company is owned by Lithunian loan originator Aventus Group, which offers loans from Czechia, Latvia, Poland, Georgia and since 2017 from Ukrania and Kazachstan. Aventus Group was founded in 2009 and is according them profitable ever since. Aventus has 500’000 clients, 16’000 new clients sign up every month and has more then 120 employees. Every month more then 2.5 Million (Euros) loans are originated.
How does buyback work?
Buyback is activated automatically when a loans is overdue for more then 60 days. The capital plus accrued interest are being covered with buyback, actually it is working like Mintos’ buyback (which makes sense given that aventus used to be a loan originator on Mintos). There is another opportunity, called “sell back” where you can cancel your investment and get your capital plus interest after a 14 day waiting period (like DoFinance, but with the interest being paid in any case). This option is only available for longer term loans which is not defined at the moment (what loans qualify as longer term loans). There are only loans on the platform with a duration of up to one month.
Who can invest?
The platform allows access to investors from all over Europe (plus Switzerland, Russia and Ukraina), although at the moment you cannot select Switzerland as country of residence, but I am working on that). The identity is only checked after you applied for a withdrawal. Then you have to provide your identification documents. I recommend performing a withdrawal with a small sum after your deposit has reached the account. So you are sure that everything is set up correctly and working, if you later want or need to withdraw your funds.
There is an autoinvest feature, but I was not able to use it to date as my funds are on the way to the platform. The minimal investment amount is EUR 10. There seems not to be a tax withhold at the moment. At least I was not able to find anything in this direction, so I guess there is none.