Fast Invest is a European peer-to-peer lending platform where investors can invest in consumer loans. When you invest on the platform, you can earn an average return of 13.98%. Fast Invest is open to European customers but does not support the American market. Fast Invest has features like a buyback guarantee and auto-invest feature that allows investors automatically select loans to invest in. In this article, we will review Fast Invest and tell you how you can invest in it.
Fast invest Review: Quick Facts about Fast Invest
- Fast Invest is a peer-to-peer lending platform for consumer loans and is available for European customers only.
- Fast Invest has a buyback guarantee and auto-invest feature that allows investors to auto select loans to invest in.
- You can sell your portfolio in the secondary market if you want to exit the platform.
Contents
Who Can Invest in Fast Invest
Fast Invest is available in many European countries and investors from Europe can invest in it. However, investors from the U.S cannot invest on the platform. Fast Invest is open to individual investors and companies. For individual investors, you must:
- Be at least 18 years old
- Have a valid email address
- Have a bank account in your name in the EU
- Have a national ID or a passport
As of 2022, the Fast Invest portfolio stood at €67.8 million with over 41.5k investors. Fast Invest was started in 2015 by Simona Vaitkune in London. The company is registered in the UK, but the team is based in Lithuania.
How Fast Invest Works
Like all peer-to-peer lending companies, Fast Invest creates a platform where borrowers and lenders can transact comfortably. As such, it creates a mutually-beneficial program where borrowers can access money at friendly rates and where lenders can earn a decent return on their investment.
The peer-to-peer lending industry has been growing rapidly in the past few years. The reason for this is simple. The process of borrowing money is less cumbersome than going to a bank and filing all the paperwork. At the same time, the interest rates regime in the developed countries has made it possible for these companies to do well. With interest rates being so low – and at times negative – liquidity providers are not incentivized to lend money to ordinary people.
These companies prefer to lend money to other large companies and earn a decent return. Savers on the other hand are not incentivized to save money because of the low-interest rates. Subsequently, the peer-to-peer lending companies provide a platform where borrowers and lenders can interact and benefit.
How to Invest in Fast Invest
Fast Invest works in a very simple process. The lender creates an account, submits the required documents, deposits money, and then starts to invest in loans. Lenders can add any amount of money that they want. The minimum deposit in Fast Invest is €1. There are two ways of investing in Fast Invest.
The first method of investing in Fast Invest is to go to the loans page and identify the loans that have been listed. You should then click the invest button and make your investment. The second method of investing in Fast Invest is to use the company’s algorithms. This is a process where you let the algorithm select the loans for you. The screenshot below shows you the loan list.
As you can see, there are several parts of the loan list. First, the loan list shows the country of the borrower. This is followed by the customer code, the date issued, the amount sought, the interest rate, time remaining, loan type, and the amount invested. Next to this amount, there are two buttons. These buttons show the moneyback guarantee and the buyback plan.
Fast Invest Features
Fast Invest has these features that are accessible to investors free of charge:
Buyback Guarantee
Fast Invest has a buyback guarantee that secures investors’ money in a scenario where the borrower cannot repay their loan. If the loan is delayed for a couple of days, the loan can be repurchased and the borrower will be repaid back the principal amount and accrued interest.
Auto-Invest Feature
Fast Invest also has an auto-invest feature that helps investors set a criterion in which they can automatically select loans to invest in. You can filer loans based on currency, interest rate, or loan origin. You don’t have to spend time analyzing loans to find which you can invest in. You just need to set a few conditions in the auto-invest feature and then it will automatically select investments for you.
Secondary Market
Fast Invest also has a secondary market where investors can sell their portfolios. Therefore, if you want to exit the platform or sell your investment prematurely, you can sell your portfolio in the secondary market. However, you will be charged 0.5% of your initial value when you sell your portfolio in the secondary market. If you want to sell your portfolio faster, you can offer a discount for the loan and it will appear in a higher position in the secondary market.
Benefits of Investing in Fast Invest?
The peer-to-peer lending industry is relatively easy. It is also an industry that is growing fast. As with all similar industries, there are fears of fraud in the industry. Therefore, you need to be very careful when you invest in these countries. Here are the top reasons you may consider investing in Fast Invest:
- Buyback program. Fast Invest has a buyback program. This means that Fast Invest will reimburse you if the borrower is late by three days.
- MoneyBack. This is a program that allows you to sell back the loan to Fast Invest if you are not interested in the loan anymore.
- Diversification. As an investor, it is always recommended that you have a diversified portfolio. This will help you stay safe even when one investment falls.
- Above-average returns. Returns in Europe are hard to come by these days. Fast Invest allows you to generate above-market returns.
- Easy to invest. Unlike other platforms, investing in Fast Invest is relatively easy. You can also use the automated process to invest in loans.
- Variety of loans. There are hundreds of loans that are available at any given time.
Cons
- Slow when it comes to withdrawal of investors’ funds
Fast Invest Supported Countries
Fast Invest is available in 55 countries. Most of these countries are located in Europe. The company does not offer its services to American customers.
Is Fast Invest Safe?
Fast Invest is a safe and secure investment platform. Loans have a buyback guarantee from the loan originators. All loans are 100% pre-funded by the loan originators to ensure that they too have skin in the game. This keeps them on their toes to underwrite good loans alone. Besides, Fast Invest accounts are secured with two-factor authentication to ensure the security of investors’ funds.
Fast Invest has “Excellent” ratings of 27% on Trustpilot. Many people have applauded the platform for its auto-invest function that helps them put their investment in autopilot mode. However, other people complained of the platform having poor customer support and difficulties in withdrawing funds from the platform.
Fast Invest Fees
Fast Invest is a free-of-charge platform. It is free to create an account. However, there is a withdrawal fee of €1.5 for the payout transaction. Bank charges may also apply for deposits and withdrawals.
Fast Invest Alternatives
You can invest in the following investment platforms as an alternative to Fast Invest.
Summary of Fast Invest Review
Fast Invest is a peer-to-peer lending platform for consumer loans where investors earn an interest rate of 13.98%. The platform has a buyback guarantee and an auto-invest tool that allows investors automatically select loans to invest in. Also, if you want to exit the platform, you can sell your portfolio in the secondary market. Anyone above 18 years old, an EU resident, and has an EU bank account can invest in Fast Invest.
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