Looking for an alternative P2P lending platform? Whether you’re a new investor or you’re already using other platforms like Envestio or Grupeer, you’re in the right place. In this VIAINVEST review, we’ll discuss the VIAINVEST P2P lending platform. We’ll discuss it all. From its features to expected returns, user interface and more. Read on, and learn everything you need to know about VIAINVEST.
What is VIAINVEST?
VIAINVEST is a P2P lending platform that is based in Latvia and was first founded in 2016. This makes it one of the newer P2P platforms on the market. It serves investors from the European Economic Area (EEA) as well as Switzerland. Unfortunately, that means investors from elsewhere around the globe cannot use it.
Since it was first founded in 2016, VIAINVEST has attracted a total of more than 11,529 investors and issued loans totaling €91 million. This is quite a lot of cash for such a new company and shows dedicated its investors are. It focuses primarily on consumer loans in European countries including Sweden and Latvia.
Overall, investors using VIAINVEST seem to be quite happy with the service. It has a 7.9 on Trustpilot and mostly positive reviews with only a few exceptions. It currently has more than 500 “likes” on Facebook, and customers all rate the service very highly.
Returns at VIAINVEST: Earn up to 10-12% on your money
VIAINVEST provides pretty good, stable returns. On average, its loans offer about 10-12% returns, and the average user can expect a yearly return on investment of about 10.8%. There are also hundreds of loans available at any given time. This allows you to invest in a wide variety of different consumer loans.
The only thing that we found a bit odd about VIAINVEST is that, unless you’re looking at loans issued several months ago, its loans all offer an 11% interest rate. We found that loans from between €300 to €3000 and more all had the same, 11% interest rate. This even remained the same across different loan terms ranging from 14-30%.
We’re not exactly sure why this is. VIAINVEST may wish to attract both investors and borrowers by offering a predictable, fixed interest rate. However, it would be nice to see some more diversity when it comes to returns. It’s unusual, to say the least, for a P2P lending platform to offer the same interest rate on the vast majority of its loans.
If you are okay with 11% returns, the VIAINVEST P2P lending platform is a great option. However, if you would like more control over your returns and the chance to earn more, you may be better off with another P2P lending platform.
Loan diversification at VIAINVEST: Reasonable but not excellent
Primarily, loan diversification at VIAINVEST is obtained by investing your money into a huge number of different loans. VIAINVEST exclusively offers consumer credit loans (lines of credit), which are unsecured and relatively high risk.
It also works with only 5 loan originators. One loan originator is used for each country where VIAINVEST offers loans. You can invest in loans from 5 total countries, including Latvia, Spain, Czech Republic, Poland, and Sweden. This lets you diversify geographically. You can only invest in Euros.
However, we have to say that diversification is one of the weak points of VIAINVEST. We do not recommend using it as your only P2P lending platform. There is only one exception. If you are only interested in consumer loans, it’s a decent option.
Otherwise, you may be better off using VIAINVEST alongside some other P2P lending platforms. That way, you can invest in other types of loans like business loans, property loans, and other such loans.
Taken on its own terms, though, VIAINVEST is pretty good when it comes to diversification. You will be able to build a fairly balanced portfolio quickly. Again, though, the interest rates seem capped at 11%, and you can only invest in consumer loans.
VIAINVEST features: Automatic investing, secondary market, buyback guarantee
VIAINVEST is not the leader of the pack when it comes to diversification or returns. However, it’s fantastic when it comes to features and overall usability. Let’s discuss its autoinvest feature first.
Using VIAINVEST, you can easily set up an auto-investing portfolio, which automatically purchases loans with your gains and deposits. You can customize this feature based on your preferences, such as:
- Desired loan originator
- Remaining loan term
- Desired interest rate
- Whether or not you want a buyback guarantee
This lets you invest without any headaches, and without looking at individual loans.
VIAINVEST also offers a stellar buyback guarantee. If a borrower fails to repay within 30 days of their last payment date, the loan is written off. You’ll get your entire investment principal back, as well as any interest that you were owed. This is in contrast to some other P2P lending platforms. Mostly, these other platforms will only give you back your initial investment. You’ll lose the interest. This is not the case with VIAINVEST.
VIAINVEST does not have a secondary market, though, so you cannot buy and sell loans to maximize your liquidity. Given that many loans are for only about 21-30 days, though, this is not a huge deal. Also, it has a “Buyback” feature where you can sell a loan that’s over 120 days old back to the platform. This is free and instant.
Finally, it has only a 10 Euro minimum to start investing, so you can get started no matter how much funding you have to spend on P2P lending platforms. Currently, it’s only possible to deposit money with a SEPA transfer. The VIAINVEST platform makes it very easy to do so.
The only flaw is that VIAINVEST does not have great reporting options. If you like detailed information about your performance, this may not be the best platform for you. It’s a bit more simplified, and you don’t get access to deep data about your performance.
Using VIAINVEST: A great user experience
The VIAINVEST P2P lending platform is extremely easy to use. Signing up takes just a few minutes, and depositing your money via SEPA transfer is also fast and simple.
Navigating the website is quick and easy, and you can invest in loans or set up your autoinvest preferences in just a few clicks of a button. We had no problems using the VIAINVEST website during our VIAINVEST review. We highly recommend this P2P lending platform to anyone who wants an easy-to-use investment platform.
It even has a mobile app. The app is available for both iOS and Android. You can download it for free and manage your portfolio on the go. All the same functions such as transferring money, viewing your loans and investing are available on the phone app. If you want to invest directly from your phone, VIAINVEST is a good choice.
It’s also easy to get help if you need it with an FAQ, and you can also contact VIAINVEST by live chat, email, or phone to get additional help for your question or issue.
Should you use VIANIVEST? Risks & recommendations
VIAINVEST is somewhat riskier than some other top P2P lending platforms. This is because it exclusively focuses on consumer loans. This type of loan is not secured by collateral.
However, VIAINVEST does offer a 30-day loan buyback guarantee, which helps minimize this risk. There is always the chance that VIAINVEST or its loan originators may not have the cash to cover multiple defaults, though, so you still are putting your capital at risk.
This is true of any lending platform, however. Wherever you invest, you are taking a risk. Overall, VIAINVEST seems as safe as other leading P2P lending platforms. If you want to invest in consumer loans at a steady, 11% interest rate and are not interested in diversifying, it’s a good option for you.
It’s also a good option if you already use other P2P platforms, but want more exposure to consumer loans in Sweden, Latvia, and Poland. It’s a good way to diversify your portfolio.