FAST INVEST is a newer, online P2P lending marketplace. Have you been wondering if it’s safe to use, or if it offers good returns on your investments? Get all the details below in our FAST INVEST review now!
What is FAST INVEST? The history of the platform
FAST INVEST is an online, P2P lending platform that allows investors from all over Europe to invest in a wide range of loan products. Primarily, it focuses on short-term consumer loans. The company is based in the UK and was first founded in 2015.
Today, it offers P2P loans to investors in dozens of countries. Primarily, the loans offered are from Poland, the UK, Denmark, and Spain. All in all, more than 30,000 investors are using the FAST INVEST platform, and it has funded loans above €40,800,000.
FAST INVEST offers hundreds of loans from four different countries and allows investors from all over the world to invest, making it a great addition to your investment portfolio.
FAST INVEST returns: Earn up to 16% on your investments
The average rate of returns on FAST INVEST is about 14.3%, and the company typically offers loans with interest rates of between 9-16%. Our portfolio showed returns that were on par with the average returns reported by FAST INVEST.
In total, FAST INVEST has hundreds, if not thousands, of loans available at any given time. Each loan includes details about the person borrowing it, the loan value, interest rate and other details that will help you do your due diligence, and understand if it’s a worthwhile investment.
The more risk you take, the better your returns will be. However, given that FAST INVEST primarily focuses on risky, personal consumer loans, we would expect there to be more high-interest loans available. Many of the loans are only for interest rates of 9-10%, which may not be enough to satisfy investors looking for a bigger risk – but also a bigger reward.
Loan diversification at FAST INVEST: Okay, could use improvement
The diversity of loans at FAST INVEST is a weak spot. The company only focuses on short-term personal consumer loans, so you won’t have the option to invest in things like real estate, industrial companies, and other such loans.
Besides, while there is a wide diversity in the loan duration and currencies, most FAST INVEST loans appear to originate from Poland. As of writing this review, there were hundreds of loans available from Poland, but none from the UK or Spain, and only 2 loans from Denmark. Unless things change dramatically and FAST INVEST adds a bunch of other loans soon, you’ll mostly be investing in Polish loans.
FAST INVEST has also never revealed who its loan originators are. They claim that they will do so in the future. But for now, we would be wary about investing a lot of your portfolio on this platform.
FAST INVEST features: Good and solid
The FAST INVEST platform has all of the modern features you would expect from a P2P lending platform, but not much else. It’s fairly generic in design, but it gets the job done. The Autoinvest tool, for example, allows you to automatically build a portfolio based on your set parameters, and reinvest your interest to continue growing your portfolio in a “hands-off” approach.
The company also has two different Buyback Guarantees. Its 3-Day BuyBack guarantee covers loans that are delayed for more than 3 days, ensuring investors can recover their principle. The 1-day MoneyBack Guarantee, on the other hand, allows you to sell your loans back to FAST INVEST in just a single business day if you do not want them anymore.
This is a good thing, too, because FAST INVEST has no secondary market. The only way to get rid of a loan is to sell it back to FAST INVEST. However, there is a catch. When you sell a loan back to FAST INVEST, you will only regain your principal.
You will lose any interest you gained over the lifetime of your loan. This is unfortunate because it means you must always hold onto your loans for their full duration if you want to profit – there’s no way to get out early with your gains.
The minimum investment is just 1 EUR, which must be added via bank transfer. There are no other options for adding funds.
User experience: Simple and easy to use
We’ve had no major problems with the FAST INVEST interface, and the website loads quickly and is very easy to navigate. Filters let you find loans to invest in based on the interest rate, length of the loan term, country of origin, and other such factors. This is a good thing, too, because FAST INVEST typically has hundreds of loans to choose from, and it’s not easy to navigate the entire list manually.
The entire process of setting up an account, transferring funds, and investing in loans is quick and easy. FAST INVEST even has guides and tips on how to get started which will help you familiarize yourself with its user interface quickly.
The risks of choosing P2P Lending with FAST INVEST
The biggest risk of using FAST INVEST is that it has not revealed who its loan originators are. The company claims to work with 8 third-party loan originators, but there is no information about them on the website or individual loan pages. More transparency in this regard would be good.
Beyond this, there are no other unique risks of using this P2P lending platform. FAST INVEST has turned a profit since it began, so it’s not at any immediate risk of bankruptcy, and the Buyback Guarantee helps protect your principal, keeping your money safe.