On October 31st, Peerberry celebrated its first anniversary. Peerberry is a really easy-to-use platform. Since I opened my account, there’s been almost no need for me to visit the platform, since it works without incidents or Drag Cash problems. Very consistent yields with little fluctuations.
Peerberry in numbers: By december 2018, Peerberry achieved 7.4 million loan volume and 3,771 investors from 59 countries who can invest in Polish, Czech, Danish, Lithuanian, Ukrainian and Russian loans. The majority of the loans are less than 40 days long.
- Platform Type: Crowdlending to individuals (P2P) – Marketplace with 10 originators (1 of them specializing in real estate loans)
- Start: 2017, Latvia.
- Modalities: Eight originators that offer short-term loans in its vast majority (99%), and a couple of real estate opportunities.
- Geographic focus: The vast majority in Poland (80%), Ukraine (10%), the Czech Republic (10%), and Lithuania (2-3 home loans)
- Currencies: EUR.
- Return rates: All 11% or 12%. Few loans at 13%. The announced annual interest rate average of Peerberry is the 11.98%. Since August 2019, there is a loyalty program for investors:
- Silver: From 10 000 Eur of active investment portfolio (gets +0,5% for future investments)
- Gold: From 25 000 Eur of active investment portfolio (gets +0,75% for future investments)
- Platinum: From 40 000 Eur of active investment portfolio(gets +1% for future investments)
- Investment flow / Cash Drag: No problem in the flow of loans / offer since I started using the platform.
- Minimum investment (per loan): From 10 EUR.
- Payment modality: Interests are paid at the end of the term, which in general are very short (30 days).
- Duration of loans: Less than a month.
- Defaults: None, because I only invest in secured loans (with Buyback). The platform shows about 27% of overdue loans.
- Buyback: There are also no without guarantee. But given that interest rates are the same, I do not see what may be the reason for investing in unsecured loans.
- AutoInvest: Yes, there is an AutoInvest function. There is a manual option, but almost nothing is usually available (except for the real estate loans of largest volume). That is to say, the loans are exhausted with the AutoInvest function used, I imagine, by the vast majority of investors. The AutoInvest can be configured based on the interest rate, term, amount to be invested by loan and whether you want to reinvest the benefits. The typical.
- Secondary market: Doesn’t exist.
- Interface / Tools: Simple and intuitive. You can view and download earnings and invest in automatic or manual format, query and filter your investment transactions, and see the benefits generated. There is also the option to receive daily or weekly reports via email.
- Taxes: It doesn’t withhold taxes.
- Customer Support: The functioning of the platform and interface are so simple that I never had to contact them.
- Languages: English and German.
- Welcome promotion: None.