If you’re an EU based investor wondering if the TWINO P2P lending platform is right for you, you’ve come to the right place. In our TWINO review, we’ll take a look at the history of this company, expected returns, loan diversity and all of the other details you need to know before you invest.
The basics Of TWINO: History, investors and more
TWINO is a Latvia-based P2P lending platform. It was first founded in 2009, so it’s one of the older P2P companies operating in Latvia. Since it was established, it’s managed to attract €532,739,000 in investments from over 17,482 individual investors.
TWINO offers only unsecured consumer loans. Currently, TWINO is open to all investors from the European Economic Region (EEA), and it accepts investments and issues loans exclusively in Euros.
TWINO returns: Good returns with a high-risk profile
Overall, you can expect pretty good returns from TWINO. Typical interest rates and annual returns average 8.6%-10.8%, and some loans may have even higher interest rates. As with every P2P lending platform, you will get higher returns for investments that are higher-risk.
There are a lot of loans to choose from, as TWINO offers loans in 6 different countries. These loans are risky, though. Only about 76.8% of TWINO loans are in good standing. 16.6% are in default, and 6.6% are delayed. If you are unlucky and invest in a number of loans that default, your returns may be heavily affected.
TWINO loan diversity: Consumer loans from 6 countries
You can invest only in consumer loans using TWINO, but it issues loans in 6 different countries, including Germany, the UK, Latvia, and others. Loan terms can vary quite a bit, from short-term loans of a few months to multi-year loans.
As mentioned, though, these loans are high risk, and often made in countries like Kazakhstan and Russia. If you do not have an appetite for risk, this may not be the right P2P lending platform for you. We also do not recommend using it as your only P2P lending platform, unless you are willing to risk your capital. You can see some alternatives to Twino here if you’re in the EU, or here if you’re in the UK.
TWINO P2P platform features: Buyback guarantee, auto-invest
The TWINO P2P lending platform has a number of useful features, including an autoinvest feature that lets you automatically invest in loans that meet your specified criteria. This reduces the amount of time that you have to spend managing your portfolio. Its minimum investment is also low at just €10, making it easy to get started
It also offers two buyback guarantees for its loans, called the “BuyBack Guarantee” and “Payment Guarantee.” They are essentially identical, but not available on all loan products. Both of these schemes will compensate investors the principal and accumulated interest when buyers are late with their repayment for 30 days.
TWINO user experience: Clunky & needs improvement
The overall user experience of TWINO is sub-par compared to other major EU and UK-based P2P lending platforms, such as Envestio, Mintos, and Grupeer. For example, the auto-invest feature works fine, but it’s difficult to set up and has an intuitive design.
The website also has some performance issues when loading new pages, and we had to close and refresh it a few times, which is never a good thing. Overall, the UI is okay and its features are manageable if you are an experienced P2P investor, but it’s not going to be a great choice for new investors.
Should I use TWINO? Risks & recommendations
TWINO has a lot of high-risk loans, so the biggest risk is that multiple borrowers in your portfolio will fail to pay. This could cause you to lose your capital when investing with the TWINO P2P lending platform. You can manage this risk by picking loans carefully, and choosing loans with a BuyBack Guarantee.
The other major risk of TWINO is that the platform itself may go out of business. We don’t see any warning signs here. However, TWINO is not very transparent about how well its business is doing, so it’s hard to predict potential financial difficulties. Overall, though, the risks of using TWINO are not much different than using any other P2P lending platform.