FastInvest: Quick Platform Review
Last Update (01.01.2020)
By the end of December 2019, I have 2,019.30€ invested in FastInvest. I got 19.30€ in interest. Until now, FastInvest IRR is 11.52%. FastInvest is not joining my €2.5K club, in fact, I decided to close my position on the platform during 2020.
I like the user experience of the platform. I like their highly professional marketing approach, but I really don’t like the lack of transparency regarding loan originators.
For me, FastInvest has worked well. But there are too many stories (read here) around the company on these troubling times for me to keep investing. I will keep you informed on this process over the next few months.
FastInvest is a very curious and interesting P2P lending platform. The buyback guarantee offered is different from others and associated with the fact that no secondary market is available. Confused? Me also!
“BuyBack Guarantee covers the loans that are overdue by 3 days or more. The investors receive the principal and accrued interest.”FastInvest Team
And interesting, instead of a secondary market, you have the option to sell back your investments directly to FastInvest at any time. There is no fee, but if you choose to sell your loans you will not receive any interest for the time you held the loans. If any interest was paid out, it will be subtracted from the amount you get back.
“MoneyBack Guarantee is useful when the investor wants to stop investing, in this case, the loan can be sold back to us and the investor will receive all the principal sum, but not the interest.”FastInvest Team
I started my investments at FastInvest in February 2019. No problems. Smooth investment experience. FastInvest is a great way to invest your money even if you need to cash-back quickly. In very short-term loans in a totally automated manner. It could be an ideal starting point for a new P2P lending investor.
Critical Note: Not all Loan Originators currently working with FastInvest are known. That raises important questions related to the platform internal procedures and based on this reality I decided to reduce my position on the platform additional information is available.
No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!
FastInvest Account Update
Investment Start Date: February 2019
Total Deposits: 1.912,03€ (Dec 2019)
Asset Value: 2.019,30€ (Dec 2019)
Creating a FastInvest investor account is very easy and the first investment can be made in a straightforward manner. The website user experience is among the best in the industry and I would like to see more transparency from them. Since that didn’t happen, I decided to close my position starting in January 2020.
|Analysis Topic||Personal Take|
|Yes. Loans that are overdue by 3 days. Returns principal less all interest already received.|
|Yes. By the platform.|
|1 month to 1 year|
|No bonus for new investors, but you can create your account using my referral link and support the blog this way. Thank you!|
4/10**taking into consideration the lack of transparency regarding Loan Originators, I highlight a warning for all investors to have special care when using this platform
My FastInvest Account
FastInvest Income Graph
FastInvest Asset Value Graph
Do you want to Invest?
Check among the P2P crowdlending opportunities available on Savings4Freedom, always taking into consideration that all information is entirely based on my personal experience.