Total Funded: € 11,365,907

Historical return: N/A*

Total Funded

€ 11,365,907

Historical Return

N/A*

Fast Invest is a marketplace for peer-to-peer lending that allows users to invest in loans granted from non-bank financial institutions (loan originators). All loans are 100 % pre-funded by the loan originators who have 5 % skin in the game and operate in the area of consumer loans. The loans can be sold back to the platform at any given time with one day’s notice – but withdrawing will make you lose the interest on outstanding loans.

Last updated: February 23. 2019

P2P Business Area:

Founded:

Founder:

Country of Origin:

IPO Status:

Countries of Operation:

Consumer Lending

2015

Simona Vaitkune

United Kingdom

Private

United Kingdom, Spain, Denmark & Poland

 

Fast Invest - Overview

P2P Business Area:
Consumer Lending

Founded:
2015

Founder:
Simona Vaitkune

Country of Origin:
United Kingdom

IPO Status:
Private

Countries of Operation:
United Kingdom, Spain, Denmark & Poland

Fast Invest - Pros & Cons

Pros

  • High interest rates
  • Large number of available loans
  • High cashflow - possibility of instant withdrawal
  • Automatic investing with same filters as when investing manually

Cons

  • High risk
  • Instant withdrawal causes loss of interest on outstanding loans
  • Short term loan duration - a lot of re-investment needed
  • Low transparency - Loan originators are not revealed

Characteristics of Loans

Interest Rates

9 % - 16 %

Loan Durations

1 - 12 months

Currencies

EURO & PLN

Buy-back Garantee

Minimum Investment

0

Direct Investment Structure

Loans on Fast Invest

Fast Invest shows the basic information needed on the loan overview: Term, monthly income, current and liabilities as well as gender and age. The loan breakdown is not specified regarding which loan originator is providing the loan, which is a big lack. However, you can see which country the loan is from, the time left on the loan and the interest rate. All the loans are covered with the same buyback guarantee and the possibility to sell right away. Thus, there is no need for a specification of the buyback guarantee on each individual loan.

The displayed data is precise and easy to understand, but the information is scarce. Also, it would be nice to know at which loan originator the loan has been pre-funded. There are no secured assets in this type of consumer lending and that makes the overview simple since there is no explanation of the different assets. The payment schedule is displayed for lenders as well as the amount of investor shares and the amount available for investment, making it easy to figure out the repayments. If you are buying 1 % of the loan, you will get 1 % of the repayments displayed in the “Payment Schedule”. The typical loans on Fast Invest are annuity loans with a constant and similar amount each month.

Buyback Guarantee on Fast Invest

The loan originator buyback guarantee on Fast Invest is covering most loans on the platform. There are four things to be aware of:

  • The buyback guarantee is the same across different loans from different countries and originators.
  • The buyback guarantee is taking effect already after 3 days of missed payments.
  • As with all buyback guarantees the risk is shifted from the borrower and the collateral to the loan originator and its existence as a company.
  • The buyback guarantee is extended to a sell-back guarantee, which means Fast Invest offers to buy back the loan at any given time. However, it will require you to give up the interest rate on the outstanding loans.

Read more about risks and benefits associated with buyback guarantees here.

Platform Features

Manual Investing

Manual investing on Fast Invest is simple and straightforward and provides you with the possibility to filter on terms, amount, currency, interest rate and country. The borrowers do not have credit ratings or different assets secured as it is simple consumer lending. There are enough loans to diversify across many borrowers. With a € 1 minimum investment and as of writing 500+ loans available it is still an unexploited marketplace. Most available loans right now are in PLN, but if you only want to invest in EUR it is possible with the auto invest feature.

Automatic investing

The fairly short loan durations will quickly make the repayments/cashflow rather large resulting in investors having to re-investment a great deal. This will require spending quite some time if investing manually. The “Auto Invest” on Fast Invest is therefore a necessary feature. It is possible to configure the filtering in the same way as with manual investing except that the auto invest requires a minimum investment of € 10.

Secondary Market

The Fast Invest peer-to-peer lending platform has no secondary market. To compensate for the lacking possibility of liquidating the investment quickly, Fast Invest lives up to its name by providing an even faster alternative. You can sell back the loan to Fast Invest in return of giving up the interest rate accumulated on the outstanding loans. This gives lenders the opportunity to withdraw the principal right away, which can be useful if in dire need of cash.

Nice to Know for Investors

Registration Process

Registering at Fast Invest is very simple and easy to do. Creating an account as an individual requires very few personal information: Name, main currency, country of residence, nationality, email and password. The platform complies with KYC (Know Your Customer) and you therefore need to provide an identification document to be able to withdraw from the platform. Note that you can create an account and invest, but you will have to complete the KYC before you can withdraw.

Deposit & Withdrawal Process

Depositing funds to your investor account is done in three steps:

  1. Transfer money into your Fast Invest account with bank transfer (SEPA) from your personal account.
  2. Your funds will be available for investment within the day of confirmed arrival (usually 1-3 banking days).
  3. After the funds are received and added to the account, you will receive an e-mail confirmation.

Withdrawing funds is the simplest process of the two if you are already KYC validated. All you must do is click the “withdraw funds”, enter the amount you want to withdraw and wait the 1-3 business days. There is no minimum withdrawal restrictions and no additional fees or commission for withdrawing the funds except maybe from your own bank. Remember, depending on the fee structure of your own bank, they might charge fees for handling the transaction or exchanging currency.

Funding Method

Reporting

Fast Invest features a simple account overview of your available funds, invested funds, earnings and total account value. The account overview can be further specified showing every transaction and summarized information for all the movements in your lending account. You also have the possibility to sort by transaction type. 

With the account statement you can access a more detailed statement to better analyze your investments. Fast Invest do not calculate the expected annual return, but only shows the earnings in a given year or the all-time total earnings for your portfolio of loans since inception.

Fast Invest Tax

All taxation must meet the regulations in the investor’s country of residence. Each investor is responsible for their funds and profit management on their own, independently. For more details, please contact the Tax bureau in your country.

Fast Invest FAQ “Do i have to pay tax on my investment?”

Support

Fast Invest has a chat function in the right corner of the website. The chat is answered quickly within business hours. The chat function is useful for quick questions, but if you need answers to more complicated questions, you will need to write them an email to get more in-depth answers.

Fast Invest Competitors

Who Can Invest?

Investors must be at least 18 years old, have a valid email address and a personal bank account in their name in the European Union.

For the identification purposes, you must provide a national identification card (scanned or photographed both sides) or a passport (scanned or photographed).

Note: It is possible to invest on the platform as a company, but you have to sign up by directly contacting the support.

Fast Invest FAQ “Who is eligible to invest with the Fast Invest platform?”

Disclosure

Please note that this overview may contain affiliate links. It means that a commission is earned if you decide to invest after using the link – of course without additional costs to you. The information on this site does not constitute investment advice and the purpose is solely to give you a simple and easy overview of the platform. Always conduct your own due diligence and consult your financial advisor before making any investment decisions.

* Historical return is not a guarantee of future return. The number is not public on the platforms website fastinvest.com. We have tried to contact the platform and they do not wish to inform about the historical return. Supposedly it’s becoming available with their next update.

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