This month I added a new platform to my collection. This new platform is Lendermarket, and we will go into details on why I chose this platform and my starting investment. The additional funds came from my income and a 700€ withdraw I made from Mintos. The first one ever! This is not because I stopped thinking Mintos is the best platform overall but because I thought that Lendermarket is a platform that offers a higher rate at this specific period. So, let’s start this income report with the newest addition to the roaster:
I added Lendermarket to my portfolio this month. I have been eyeing this platform ever since it opened in July this year because it is a Creditstar Group company -a Mintos Loan Originator-. I sent them an email asking them a couple of questions, and I was satisfied with the response but didn’t open an account because Mintos was offering higher rates at the time. However, after the rates on Mintos dropped, I am always looking for safe alternatives, and when I got the email telling me I can get a 1% cashback bonus for my investments for the first 60 days, I jumped on the opportunity.
You can read about the reasons I invested in Lendermarket here, but the main reasons are: 1. They are backed by a large and financially stable Group and 2. They are mostly offering short term loans with a fixed 12% rate. I know that 12% may not sound very high to a lot of you, but this loan originator is one of the safest on Mintos, so I am very happy with it.
The transfer was processed quickly enough. I opened and verified my account on November the 27th and made the transfer from my account on the same day in the afternoon. On November the 28th, in the morning, the transfer cleared, and they sent me a confirmation email, as typical with platform transfers. I had set up my auto-invest criteria the night before, so as soon as I logged in the platform, the funds had already been invested. I chose loans with a duration of up to 2 months. All the other criteria, like the country didn’t really matter to me because all loans are originated from the same Group.
Of course, the platform didn’t yield any results since I opened the account so late in the month. However, I expect the 10€ cashback bonus after the 60 days are over and a 10€ monthly income from Lendermarket.
You can click here to sign up to Lendermarket and get a 1% bonus for any investment you make during the first 60 days.
Mintos reduced the cashback bonus offered to new investors this month from 1% for the first 90 days to 0.5% for the same period of time. This is when the number of investors on the platform crossed 200,000, and the total amount invested just exceeded 4 billion. This is probably the right move for Mintos from a business standpoint but no so good for new investors.
Mintos yielded 58.04€ this month, with rates remaining below average. Rates are around 11% and 10% for better originators. That’s why I decided to move some of my funds to Lendermarket. You get one of the best loan originators at a significantly higher rate than Mintos. If you are just getting started, I still believe that Mintos is the best platform for you because it offers the best diversification.
That is a monthly yield of 0.97% and a 12.87% annual yield on the platform.
A couple of my loans matured on Grupeer this month and the principal was returned to me. Too bad that the loans offering cashback were gone. They have since reappeared, and they are offering between 0.5% and 1% on any investment you make to them.
Profit from Grupeer was €12.35, which means a monthly yield of 1.15% and an annual yield of 15.48%.
One of my investments was returned to me this month on Kuetzal. It was the “Marina Code SP” with a 17.5% yield. The project was canceled, according to Kuetzal, because of the following reasons: Lack of communication, lack of reporting, unprofessional approach along with incorrect data provided, and bad expertise with current partners. Since I got the funds back, I invested the principal in the “Green Dev – Pyrolysis and Distillation Systems” yields 19%.
The platform also changed CEOs, on the email they sent, they didn’t explain why the former CEO resigned/left the company, which I didn’t think was very professional on their part. Also, no new projects were published this month.
Profit from Kuetzal was €3.93, which is a 1.19% monthly yield and an annualized yield of 16.04%. I didn’t receive interest for the newly invested project nor the old one, and that’s why this is lower than usual.
You can start investing here and get a 0.5% cashback for the first 6 months by registering through my affiliate link and a 15€ free towards your first investment using promo code “P2PINCOME”.
A full Kuetzal Review is available here.
I also received full repayment of a loan this month from Crowdestor and reinvested everything in projects with higher rates, so it worked out for the best. In the meantime, Crowdestor keeps publishing loans at a very fast pace.
Profit from Crowdestor was €6.57, which is a 1.50% monthly and 20.60% annualized return.
You can sign-up here and get a 0.5% cashback bonus for any investment you make during the first 180 days on the platform. (the link is not working with ad-blockers)
Read my Crowdestor Review here as well.
Nothing to report from this platform. All payments have been made on time and a couple of projects published, no surprises here.
Envestio returned 7.91€ this month. This is a 1.41% monthly and 19.33% yearly return.
This month 4 people invested in ViaInvest though my referral link, so I received €40, which invested in the platform as usual. There are some signs of cash drag on the platform, but every couple of days, new loans appear, and things work themselves out. It’s good that all loans come at 11%, so you don’t have to compete with other investors. The platform is very similar to Lendermarket (Mosty short-term loans, one group as the loan originator, and one fixed interest rate). Of course, Lendermarket offers a higher rate.
Profit from ViaInvest was €4.64, which means a 1.01% annual and a 13.58% annual return.
PeerBerry, Bondster, Monethera, and FastInvest
Since nothing exiting to report for these 4 platforms I will just report the income for there:
You can sign-up and receive 1% cashback for any funds you invest during your first 90 days. You also need to enter the promo code “P2PIncome” to be eligible for the offer.
You can click here to sign up to Monethera and get a 5€ bonus and a 0.5% cashback on any investment you make during the first 180 days. The standard cashback period is 90 days but if you use promo code “p2pincome” it will be extended to 360.
To read more about Monethera you can also read my review.
For the month of November 2019, I invested €340 ( €1,000 on Lendermarket minus €700 from Mintos plus €40 from the referral bonus at ViaInvest), and the total return from interest, late fees, and secondary market transactions was €100.85 that represents a 1.17% increase from last month (€99.67 ).
Overall, my portfolio yielded 1.05% of the starting balance, which means a 14.03% annualized return. That is a small increase from last month, and things are pretty consistent I do enjoy seeing my profits over €100 per month. With Lendermarket’s addition to my portfolio I believe I will be consistently over it moving forward . The total portfolio value has risen to €10,055.73.
That’s it for this month. Make sure to subscribe to the blog to catch next months report as well.
I also wanted to introduce you to N26 Bank, which I have been using to make deposits to all my p2p lending platforms. I wanted to do this for a while now but I was waiting for a good offer to present you with. Until December 31, they are offering a 30 EUR sign up bonus. Use my referral code and you’ll earn €30. All you have to do is use your new N26 card (free of charge) to make a purchase of €30 or more. Use promo code “petrosk5960” or this link.
Also, this month we have started offering dutch translations at our translations agency so I am pretty excited about that. Let’s see how that will boost things.