One of my favorite asset type is Peer-to-Peer lending, which consists of lending money to individuals via online platforms, in exchange for payment of interests over time. Peer-to-Peer lending has a high-yield, can be completely automated, and also has a low level of risk if you do it right.
In order to diversify my portfolio and reduce the level of risks of my investments, I am always looking to invest in new Peer-to-Peer lending platforms. In this article, I will review Fast Invest, a Peer-to-Peer lending platform based in Lithuania. As for many platforms I invest in, this one was also recommended to me by many friends so I really wanted to try it out by myself.
Fast Invest is a Peer-to-Peer Lending platform that launched in 2015 and has its main office in Lithuania, along with a branch in the UK. At the time this review was written, they offer investors to invest in consumer loans in four countries: the UK, Spain, Poland, and Denmark. They currently have over 30.000 investors from 55 different countries, and they funded over 13 million worth of loans since they opened the platform. They have some ambitious goals to expand internationally, opening offices in several Europeans countries, and also more recently in Hong Kong and Singapore.
They were also recognized several times by the media, for example by being nominated for Finance Awards 2019 by Business Tabloid, for being the fastest-growing investment platform in the UK market. They were also included in The Silicon Review 50 fastest-growing companies of the year 2019. Fast Invest also has over 300 reviews on Trustpilot, with 4 stars out of 5, meaning people really appreciate the platform in general and have great and consistent results with it.
Fast Invest mainly offers consumer loans, with interest rates ranging from 9% to 16%. In reality, I found that most of the loans are in the 9% to 13% range, which is still great for a Peer-to-Peer lending platform. They don't advertise the average return that people make on the platform, but on their home page, they use a 14% annual return yield for their calculator.
My own personal annual yield on Fast Invest is currently at 12.86%, which is not too far from what they advertise in their calculator. The returns have also been stable since I started to invest on the platform back in August 2019. As for all my reviews, you can see more details about my own returns on the platform at the end of this article.
The really nice thing about Fast Invest is that they offer a buyback guarantee on all loans, meaning that even if a loan is not paid back by a borrower, the platform will give you back the money that you invested in this loan. On Fast Invest, the period for the buyback guarantee is just three days, meaning that if a borrower is just 3 days late on their repayment Fast Invest will compensate the principal of your investment, meaning you won't lose any money.
They also have another cool feature called moneyback guarantee, which means that you can stop investing in a given loan and you will get your principal back in just a day. This is great for people that want to invest in Peer-to-Peer lending but also want to have a way to cash out the money quickly if needed.
Finally, you can also invest in loans from just 1 Euro, meaning it's even easier to diversify a lot of loans on Fast Invest, which reduces the risk even more.
The first step, as for all Peer-to-Peer lending platforms, is to open an account (which is completely free) and to deposit some money on it.
Creating an account on Fast Invest is really easy: you just need to go to their main page, enter some information, and your account will be immediately created.
Then, depositing funds is also very simple: you simply need to go to the Add Funds page on the side menu, and then follow the instructions to deposit money via a bank transfer:
I transferred money via TransferWise (which is also great to use especially if your currency is not listed on Fast Invest), and it actually appears on my Fast Invest account in a matter of hours! Once that's done, you can actually start investing in loans on the platform.
As for all the platforms I add to my portfolio & review on this site, I also tried to withdraw money from Fast Invest. As I used TransferWise, the team at Fast Invest asked me to actually send them a proof of ownership of my TransferWise account, but that was easily done and my account was verified in one day. I could then successfully withdraw money back to my TransferWise account. However, in case you use a traditional bank account to deposit money, you won't have to do this extra step.
We are going to dive into Fast Invest's auto-invest function in a moment, but as for all platforms, I think it's a good idea to first explore manually the loans available. On Fast Invest, it's quite easy to navigate through the available loans:
What you can immediately see here is as I mentioned before, most of the loans have high-interest rates, and they all come with a buyback guarantee & the moneyback guarantee. Most of them are also short-term, which is great for as an investor because it means you'll get your money back quicker, and it also indicates better loans in general.
It's also very easy to see details for each loan, for example, this one in Denmark:
As for many loans on the platform, this one is a consumer loan, with a solid interest rate (13.50%), and also a good borrower as this person liabilities are much lower than his monthly income.
Once you invest in some loans, they will immediately be visible from the page that summarises your investments, which is also quite well done on Fast Invest:
Let's now dive into the auto-invest feature of Fast Invest, that will allow you to completely automate your investments on the platform, and just let your money work hard for you. This is really easy to do inside Fast Invest: you have a very clear interface that you can use to create an auto-invest portfolio:
Here is a screenshot of the settings that I used for my own auto-invest portfolio on the platform:
It's basically what I always recommend for Peer-to-Peer lending platforms: at least 12% interest rate, short-term loans (less than a year), and the minimum amount per single loan (here 10 Euros). With this, you are sure to have a solid portfolio, especially with the buyback guarantee that is active on all loans on Fast Invest.
As I mentioned earlier, I started invested on the platform back in August 2018, and I could immediately see returns coming from the loans I was investing in. To track my actual returns on the platform, I used TrackInvest to calculate the actual yield that I get from Fast Invest using the XIRR formula, and I get an actual return of 13.18%, which is not too far from the number given on Fast Invest. Here is also the history of income that I generated on Fast Invest since I started investing:
As you can see on the graph, the returns have been very consistent, growing every month as I reinvested everything back on the platform. So at this point, I am still very satisfied with Fast Invest and I will keep on investing on the platform in the future. I'll of course update this article regularly to show you the progress of my portfolio.
I have a very good feeling about the platform - it has a great interface, high-yielding loans, and also a buyback guarantee on all loans to protect your funds. Plus, the auto-invest function is really easy to use and allows you to completely automate your investments on the platform.
After more than a year of investing on the platform, I can now state that it delivered exactly what was promised, with great interest rates, an auto-invest function that does its job perfectly, and no losses thanks to the buyback guarantee on every loan.
Therefore, I really recommend to add Fast Invest in any investment portfolio - especially combined with other Peer-to-Peer lending platforms, to add diversification to your portfolio. I will of course update this article as I have more results coming from my investment on Fast Invest, but so far I had a great experience and I will definitely be adding more money on the platform.
Of course, if you have any questions about the platform & my experience with Fast Invest don't hesitate to share them below!
After more than a year of investing on the platform, I can now state that Fast Invest delivered exactly what was promised, with great interest rates, an auto-invest function that does its job perfectly, and no losses thanks to the buyback guarantee on every loan. Therefore, I really recommend to add Fast Invest in any investment portfolio - especially combined with other Peer-to-Peer lending platforms, to add diversification to your portfolio. I will of course update this article as I have more results coming from my investment on Fast Invest, but so far I had a great experience and I will definitely be adding more money on the platform.