The Fastinvest peer- to- peer platform is the second platform after Envestio in which I have invested. Fastinvest is a consumer lending platform across Europe.
For me it is important for a crowdlending platform to develop strongly before I invest via its service. The investment platform must also meet several security criteria such as the guarantees of redemption and default of payment. Fastinvest meets my criteria and offers a very simple interface and at the same time very modern.
Let’s take a closer look at the details of the Fastinvest loan platform.
What is Fastinvest?
Fastinvest is an internet platform that allows individuals to finance consumer loans in Europe and the rest of the world.
- Date of creation: 20 December 2012
- CEO and co-founder: Simona Vaitkune
- Product launch: February 2015
- Sector: P2P Investments, FinTech
- Offices: United Kingdom, Poland, Italy, Lithuania, Estonia
Who’s in charge of Fastinvest?
- Simona Vaitkune is the co-founder and CEO of Fastinvest.
- His linkedin profile here .
- Follow Simona Vaitkune on Twetter here .
Simona Vaitkune tells her story as follows:
It all started in 2015, when I wanted to not only save money but also earn more (to earn passive income). I was looking for alternatives in Europe and I did not find anything that suits me. I wanted to invest in a way that was both simple and safe. I did not have a lot of money and some companies needed a big point of entry, while others were entirely local, so that as a Lithuanian I could not invest in a platform based in Germany.Simona Vaitkune on fastinvest.com
In addition, most products on the market are difficult to use and you need to have a lot of financial knowledge if you want to start investing. It was important for me to find innovative instruments – new solutions with good design and a perfect UX.
We did some research and saw the opportunity to create something that I could not find anywhere in Europe. We have discovered that there are many people who have savings and who are looking for a passive income stream. There was a huge pent-up demand for an easy, safe and cost-effective way to make money.
No cost to invest with Fastinvest!
Oh yes. This is a very good surprise. To invest in Fastinvest it will cost you nothing, zero expenses
- Open a Fast Invest investor account: Free
- No annual account or administrative costs
- Service fee: 0%
- Sale of loan by Purchase: 0%
- Withdrawal from the bank account: Free (Bank charges may apply)
- Identity check: Free
- Bank account Add: Free (Bank charges may apply)
The interface of the Fastinvest platform once connected
The interface is very fun and allows you to orient yourself quickly.
The quick menu that appears on the right side of the screen gives an overview of what can be done.
Here is a screenshot of the menu.
I just opened my account, verify my identity through a quick procedure and make a first deposit of 200 €. The funds were paid by bank transfer from my bank during the day.
Investing by oneself
By clicking on the “Loans List” you will come to a page that allows you to select using filters that meet your criteria.
Important : in the list of loans you can see on each loan line in the column “Features” the following icons. These icons indicate the loans that are covered by the buy-back and default guarantees.
Here is a screenshot with my search criteria.
As with most crowdlending platforms, loans with the best returns start very quickly. So you have to be lucky to find a loan with an interest rate above 12%.
This is where the second investment method offered by Fastinvest comes into play: the Auto Invest tool.
I feel that I will greatly appreciate this tool. Indeed, to invest in projects on Envestio, you must be very responsive when the arrival of the email notification of a new project in your mailbox. It’s a bit of a race to finance the first one. The Fastinvest team understood this problem and that is why they created the Auto Invest tool.
Invest with the Auto Invest tool
As a particular trader in addition to my full time, I consider this tool as extra security. For those who are familiar with it, Fastinvest’s Auto Invest tool allows you to create a loan ETF. That is, you diversify your investment by creating a basket of lots of small loans rather than seeking to invest in the most profitable loan (and therefore take a major risk that is that of non-diversification).
You can create multiple portfolios with the tool. For example, I created my first portfolio that meets the following criteria:
- A maximum investment period of 12 months.
- Financing of loans with a minimum rate of 12% per annum.
- A minimum investment € 10 per loan.
- A maximum investment of 25 € per loan.
My current capital being € 200, with a maximum investment of € 25 per loan, I should ultimately end up with an allocation on 8 loans.
Information on loans between individuals
Information on consumer loans in the process of being financed is clear.
By clicking on the loan number you have access to the following window which highlights the information on the amount requested, the time remaining to participate in the financing, the progress of the financing obtained, the interest rate and the insider’s information. type of loan, payment schedules and breakdown by investor.
Is it risky to invest via the Fastinvest platform?
As always the answer is mixed yes and no.
Indeed zero risk exists in investment and I recommend you always evaluated your risk aversion to losing your capital before investing in a financial vehicle.
That being said, Fastinvest offers strong guarantees.
The redemption guarantee
If at any time you decide to stop investing in the chosen loan and sell the investment (before the scheduled payment term), Fastinvest guarantees to redeem your investment within 1 business day.
To sell your investment, simply log into your Fast Invest account, click on the My Investment section, select the loan you want to sell and click on “Sell”. After approval of the account management support, you will receive the funds in your FastInvest investor account *.
* Note: Remember that when you sell your investment in advance, you will lose all interest earned through the process. However, you will recover your invested funds. The icon will mark these payments secured by the BuyBack guarantee.
The default guarantee
If a payment in arrears is late by 3 (three) days or more, Fastinvest agrees to settle the arrears via the Default Guarantee.
A simple four-step inscription
My opinion on Fastinvest
I’m just starting out with Fastinvest. I will update this notice in a few months to give you my feedback on my investments in loans between individuals that offers Fastinvest.
However, I am quite confident in the development of the company and in the security provided to investors. I greatly appreciate the buy-back and default guarantees offered by Fastinvest. The site is very well done and easy to use.
Fastinvest is also developing new investment methods through blockchain and crypto-currencies. Fastinvest is part of the FinTech landscape as an important and already global player.
To conclude, I will continue my purchases in Fastinvest , but also continue to diversify (the golden rule of the good investor) through other platforms of private loans like Envestio and Grupeer whose returns are at least equal to the returns offered by Fastinvest. You can find my selection of P2P lending platforms.
I am Erwann. In my thirty, dad of two beautiful children, happy husband and engineer with a full time job. All this leaves me little free time. I optimize every minute of this free time to train for investment.
My discovery of the FIRE movement opened me to the world of investment. Good financial management is the first step towards financial independence. I invite you to follow me in this adventure.