Throughout 2018, the average interest rate offered by Fast Invest grew from 12.78% to 14.3% (11.88% growth). The accumulated turnover grew from € 5.2 million to € 40.8 million through 1/12/18) (an increase of 685%). The investment volume grew from € 1.4 million in 2017 to € 8.1 (until 1/12/18) (478.57% growth). Fast Invest has over 30,000 clients. I started investing in Fast Invest in September 2018, attracted by the excellent retrun rates (up to 15% at the time), good reviews and comments, and the attractive and professional platform interface.
- Platform Type: Crowdlending between peers (P2P) – Marketplace with 8 originators.
- Start: 2016.
- Modalities: Loans between individuals (1000-3000 EUR).
- Geographic focus: Spain, Denmark and Poland (in Zloty - PLN).
- Currencies: Euro and Polish Zloty (PLN).
- Return rates: From 9% to 15%.
- Investment flow / Cash Drag: There are always loans available.
- Minimum investment (per loan): From 10 EUR.
- Payment modality: Interests get paid every month, along with the proportional percentage of the principal. This means getting more cash back and the possibility to reinvest much faster.
- Duration of loans: Between 1 and 12 months.
- Defaults: All loans are guaranteed.
- Buyback: Fast Invest offers two types of Guarantees: BuyBack and MoneyBack.
The BuyBack Guarantee activates when the loan repayment is delayed by 3 days, which is the fastest option on the market. With the BuyBack Guarantee, the investors receive all principal and accrued interest in their accounts.
MoneyBack Guarantee lets investors sell their investments back and receive all the principal sum in 1 day. In this case, if they decided to stop investing, they can do so in a day.
- AutoInvest: Yes, there is a really detailed AutoInvest function AutoInvest. It allows to configure it depending on the interest rate, term, loan amount to invest and whether you want to reinvest the profits. The typical. There is also a manual option that allows you select using the same criteria.
- Secondary market: It does not exist, but Fast Invest offers the option of buying your loans immediately using the buyback guarantee. The only downside is that, in the process, you loose the interests already generated.
- Interface / Tools: Among the best platforms. Interface really easy to use. You can check and filter transactions and investments, invest in automatic format and see the benefits generated and principal received. There are also a series of portfolios that you can select to invest automatically based on the interest and the term.
- Taxes: It doesn't withhold taxes.
- Customer Support: I have contacted them several times (the questions are sent through the platform and they answer by email) and they've always replied within 24 hours.
- Languages: Spanish, Italian, French, German, Finnish, Polish and Russian.
- Welcome promotion: None so far, although I am informed by the platform that soon there will be one available.