Peerberry: 8 months on board, it runs smoothly (mostly)

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 ๐Ÿ˜‰ 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.

Peerberry – my live test (incl. autoinvest)

Last week I introduced aventus group’s peerberry to you. Currently my money has arrived the marketplace, so I think I can give a little update. By the way, the platform is not only limited to European investors, but open to some countries in South America (Brazil), Asia (China, Thailand, UAE etc) Australia and New Zealand plus South Africa (and others). This comes as a little surprices, but hey, it is no different with Mintos, where they welcome nearly any investor from any country (USA as an exception).

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Deposit

My deposit was sent on its way in the morning and I did not reckon that it would get there the sam day, but it did. At about 10 pm I got the deposit confirmation in my mailbox. Actually I guess that the money was there way earlier, but only confirmed at this time. Maybe 10 pm is the time they are processing the confirmations or the platform needs some time to process the deposits. Doesn’t matter anyway, money is there, good to invest ๐Ÿ˜‰

Investing and autoinvest

Firstly I purchased one loan manually to check how this is going. It went smoothly and quickly. After that I have set up an autoinvest (see picture)

Peerberry Autoinvest Settings

I expected the autoinvest to immedeately invest my funds, but nothing happened during the following minutes. I rechecked my settings and could not find an error. So I thought I just wait until the next day. Next morning I logged in to Peerberry and saw that everything was invested the day before. So it happened between 10.15 and 12 pm. I can’t figure out any specific time. The autoinvest does its job. I couldn’t manage to choose more then one setting with the countries (either Czech Republic or Poland), same with loan status (either current or delayed). This means that at the moment I have to set up an autoinvest profile for every country I would like to invest int. Well, maybe it is not a bad idea at all to have several autoinvests running, as my experiences with swaper show. At the moment there are enough loans available, but you never know…

General impression

Basically I am positive towards the marketplace. Everything is easy to figure out. I like the layout, as it is modern and subdued. Some things are not as they should though. If I for example change my data, a thank you for investing message pops up when saving. I guess they will change these minor things down the road. In some weeks I will be back with more news on buybacks, reinvestments etc.Follow me to Peerberry’s registration.

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Peerberry – new p2p marketplace with buyback

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 500โ€™000 clients, 16โ€™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 Mintosโ€™ buyback (which makes sense given that aventus used to be a loan originator on Mintos). There is another opportunity, called โ€œsell backโ€ 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.

What else?

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.

Conclusion

This is an alternative to other p2p marketplaces and comparable to Swaper, Viainvest, Robocash and DoFinance. I will post an update once I have gained some experience. Follow me to registration.

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