I started using October in March 2018, when it was still called Lendix. Since then, I have invested in all new projects, always 60 Euro per project. Since there is no AutoInvest, you must be very alert because loans are typically funded in less than an hour. My idea is to continue investing in each new project. Check my portfolio analysis for the latest updates.
Institutional investors and October executives lend through a fund that automatically finances 51% of the loan for each project presented on the platform. The other 49% is offered to private investors.
- Platform Type: Crowdlending to Businesses (P2B).
- Start: 2015, France.
- Modalities: Fixed and generally large projects (several hundred thousand Euro, and over one million sometimes). Projects are loans to companies of all kinds. October assigns a risk level to each (A +, A, B +, B and C). As expected, the higher the risk, the higher the returns.
- Geographic focus: France, Italy, Spain and the Netherlands (since December 2018).
- Currencies: EUR.
- Return rates: Interest rates between 4 and 8%. Lower than on other platforms, but in theory there is also a lower risk because of the countries they invest in, the years of experience and the volume of loans).
- Investment flow / Cash Drag: Quite active platform (about 12 projects per month) although since there is no AutoInvest, one must be very alert because financing often fill in in less than an hour.
- Minimum investment (per loan): 20 Euro (and in multiples of 20).
- Payment modality: Interest (and in some cases the proportional part of the principal) get paid each month.
- Terms: Projects are very long, 25 to 60 months.
- Defaults: The historical default rate is very low: 0.58%. October regularly sends detailed reports with the steps they are taking to recover the money. Unlike other platforms, October provisions 100% of the amount since judicial recovery processes take a long time and the result is insecure. Provisions are potential losses and over time some or all of the amount due may be recovered. All other platforms do not consider such losses until the judicial recovery process ends. You can check the latest rates of defaults and delays for all the platforms in my last portfolio analysis.
- Buyback: None, like other P2B crowdlending platforms.
- AutoInvest: It does not have AutoInvest, which is a nuisance because loans usually get financed in a few hours. The platform sends an email three days before they start to be commercialized to allow the potential investor to study the project. Once financing starts, you have to hurry!
- Secondary market: Doesn't exist.
- Interface / Tools: Quite complete. Movements, lists of projects in which you have invested with their characteristics and deposits (with a system to search by feature, but not to download), the average interest rate of your investments, your degree of diversification (from 1 to 5 stars) and level of exposure, refunds during the previous, current and the next two months, graphs for different characteristics of loans (by risk level from A+ to C, by term, and by type of company and sector. To make deposits, unlike other platforms, you can also use your credit/debit card.
- Taxes: It doesn't withhold taxes.
- Customer Support: They have always responded in detail within 24 hours.
- Languages: Spanish, English, Italian, French and Dutch
- Welcome promotion: If you register to this link and do a deposit of at least 500 € on, you will receive 20 € to lend on projects published by October.