It has been now over a year withGrupeer, since I found the marketplace. On February 17th 2017 I started my first investments on Grupeer. I really do like the marketplace, even if there are some shortcomings (read more below), although I have placed them in to the Top 3 of my Top 10 ranking.
Loan supply increases drastically
During the last weeks, there were always more loans coming to the primary market. Further the supply of Russian loans increased and should now be at about 200k per month. At the moment there are over 300k available on the primary market, all loans have 14 or 15 percent interest, some offer 1 percent cashback additional. You get the cashback paid out on your account, just after you invested. The loans have a duration of up to 12 months, some are only 4 months.
The Russian loans are originated by two Russian companies where Grupeer holds the majority, they want to have the control over these companies so that they can intervene and monitor. There are no property projects at the moment, and I don’t have any information when a new one will be added. The first property project (Hotel Dominik) was repaid in time.
Still no secondary market available, although it was announced on the platform’s start. Ok, the loans are not long term, so we do not really need a secondary market. But I think a platform should have this feature, it is standard in my opionion. I cannot give you any indication when we will get a secondary market, but we will get one 😉
As it seems all loans have been repaid early or on due date (we ignore the few cases where it was one to two days too late due to weekends). There comes the question to my mind: How can this be? I have no clue and did not receive a satisfactory answer to date. I will stick with it and inform, when I know more.
Latvians are excluded
Coincidentally I discovered that Latvians, better put: people who live in Latvia, are excluded from the platform. I was really surprised to hear that, as Grupeer is incorporated in Latvia. There is an easy explanation though. In Latvia it is forbidden to sell debt to private investors. I have written an article about regulation in Latvia here, and this is the reason why Mintos had to restructure their loan contracts. It seems that Grupeer just took the easier path and excluded the Latvians, as it seems there are not many of them investing on Grupeer.
As I already said I really like the Grupeer, but it seems to be still unknown to the majority of investors. There were only financed loans of about 1.5 Million Euros, which plays in one league with Robocash I would say. It would have been more, but the supply was not there during the first months. I will post a follow up when I know more about the non existing delays.. Follow me to Grupeer.