DoFinance Review: How to Invest in DoFinance

DoFinance is a peer-to-peer platform that helps investors invest in consumer loans. Investors can earn an average annual interest rate of 13%. DoFinance is based in Latvia and is open to individuals and organizations from the EU or the EEA. You must have a bank account to invest on the platform. DoFinance is owned by Alfa Finance Group.

DoFinance Review: Quick Facts

  • Investors get to earn an annual interest rate of between 10% and 15%.
  • DoFinance has an auto-invest feature so that investors don’t have to manually select loans and buyback guarantee feature.
  • Individuals and organizations within the EU and EEA can invest on the platform.

DoFinance is soon introducing a secondary market where investors who wish to exit the platform can sell their portfolios.

How DoFinance Works?

DoFinance is a company in the peer-to-peer lending business. This is one of the fastest-growing industries around the world. The industry is led by companies like Lending Club, that is valued at more than $1.4 billion.

The industry aims to help borrowers and investors. Borrowers can access financing easily within a few minutes while investors can make money by extending credit to people. This situation has come in handy at a time when the European Union and other developed countries are experiencing ultralow interest rates.

Savers are thus not making money and banks are afraid of lending money to borrowers, who they consider risky. As such, the so-called non-banking companies are changing the financing world by creating a win-win situation for borrowers and lenders.

Borrowers approach DoFinance, which then uses its proprietary techniques to evaluate its credibility. It then lists these loans on its website, where investors can extend financing to them.

The company gives two approaches to investing. An investor can go to the marketplace and make investments. Alternatively, the investor can use one of the four auto-invest features. These are summarized in the screenshot below.

How to Invest in DoFinance

To invest in DoFinance, you need to first sign up on the platform and confirm your identity. You only need an email, password and a bank account. Individuals or organizations within the European Union or the European Economic Area can invest in the platform. You also need to have a bank account to start investing in the platform. Once you have joined the marketplace, you need to choose an investment program. You can then transfer funds to the investment program.

You can choose the loan you want to invest in and then fund your account. DoFinance matches investors with the right borrowers. DoFinance does due diligence before listing a loan on the marketplace. The investor can then choose a loan to invest in. once an investor has invested in a loan, he will be receiving monthly interest. At the end of the investment period, the investor gets the principal amount and the accrued interest.

DoFinance has a buyback guarantee that secures investors’ funds from borrowers defaulting in repayment. If you wish to quit the platform, you can sell your portfolio in the secondary market.

DoFinance Investing Plans

DoFinance has three investing plans.

  • Investment term of between 4 and 60 months with an annual interest rate of 10%.
  • Investment term of between 12 and 84 months with an annual interest rate of 13%.
  • Investment term of between 2 and 12 months with an annual interest rate of 15%.

DoFinance Features

If you are an investor, you can access the following features when you invest in DoFinance.

Auto Invest

DoFinance has an auto-invest feature that helps investors automatically choose from the listed loans This feature ensures that your capital remains invested and it has constant returns. You don’t have to manually select the loans to invest in instead, you can set criteria on how the auto-invest feature will select loans for you.
 

Buyback Guarantee

DoFinance has a buyback guarantee to cover investors in case of late repayment or loan default from investors. Late repayments are covered by loan originators and they do so by paying the principal amount and the accumulated interest. The buyback guarantee is guaranteed by Alfa Finance that is also one of the main loan originators.
 

What are the Benefits of Investing in DoFinance?

There are several reasons why thousands of investors are moving to peer-to-peer lending companies like DoFinance. Some of these reasons are summarized below:

  • Easy to invest. The process of investing in DoFinance is very easy. All you need to do is to create an account, be verified, deposit funds, and then start investing.
  • High income. The average returns you get in DoFinance is more than what you get from a savings account or when you invest in a government bond.
  • Diversifying your portfolio. As an investor, it is always a good thing to diversify your income. Depending on one source of income can lead to significant financial issues.
  • Fast-growing industry. Investing in DoFinance allows you to participate in an industry that is growing very fast.
  • Easy to withdraw funds. DoFinance does not have a secondary market. However, it allows you to withdraw your funds early for a fee.
  • Buyback program. A common problem with platforms like DoFinance is high default rates. DoFinance mitigates this by having a buyback program. This is similar to deposit insurance.
  • Free to invest. DoFinance does not charge money to invest.

What are the Benefits of Borrowing Money From DoFinance?

There are several benefits that you get as a borrower in DoFinance. Some of these benefits are:

  • Access to funds. You can access funds easily with DoFinance. This is unlike other financial institutions like banks.
  • Flexible payments. The company gives you flexibility in paying your funds.
  • No collateral. DoFinance loans do not require collateral. This means that your valuable assets will not be taken away after you default.
  • Faster access to funds. You can be vetted and prequalified within less than two days.

DoFinance Customer Support

You can reach DoFinance customer support through phone: +371 676 303 63 or WhatsApp: +371 283 439 47 or email: info@dofinance.eu. DoFinance website is available in English and Latvia.

DoFinance Alternatives

You can use the following peer-to-peer lending companies as an alternative to DoFinance.

Is DoFinance Safe?

DoFinance is a safe and secure investment platform. The platform has a buyback guarantee feature that secures investors’ funds. The buyback guarantee is guaranteed by Alfa Finance, one of its primary loan originators.

Countries Allowed to Invest in DoFinance

DoFinance is a company that allows investors from around the world to invest in loans that it offers. It does not limit people based on their nationalities. Still, there are high-risk countries like North Korea and Iran that it does not accept investors.

DoFinance Review Summary

DoFinance is a peer-to-peer investment platform that helps investors invest in consumer loans. DoFinance has a buyback guarantee and auto-invest feature hence you don’t have to manually select loans to invest in. besides, the company is working on its secondary market so that investors who want to exit the platform can sell their portfolio. You will be earning an average interest rate of between 10% and 15%.

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Crispus is a finance professional with more than a decade experience in the industry. Over the years, Crispus has written in-depth articles on leading platforms like CCN, Marketwatch, and Seeking Alpha. He also runs a Forex education and managed account company called WestEndFx.