Wisefund is a peer-to-peer crowdfunding platform for business loans. The platform is based in Tallinn, Estonia. You can invest a minimum of €10 on the platform. Investors earn average annual returns of 16%. Wisefund connects investors with businesses seeking funding. Wisefund does not have investment features like a buyback guarantee, secondary market, and auto-invest feature. Wisefund accepts investors from European Union countries only.
There are reports of defaulted projects on this platform. Early exit and buyback guarantee were disabled in 2020 after experiencing a large amount of early-exit requests. In May 2021, Wisefund investors lost a bankruptcy lawsuit filed against the platform. However, there’s a pending criminal proceeding against the platform and its website has gone offline.
Wisefund Review: Quick Facts
- Wise fund is a peer-to-peer crowdfunding platform that connects investors with businesses seeking business loans.
- You can invest in Wisefund with a minimum of €10 and start earning an annual interest rate of 16%.
- Wisefund accepts investors from European Union countries only.
- Wisefund does not have investment features like a buyback guarantee, secondary market, or auto-invest feature.
Contents
- 1 Who Can Invest in Wisefund?
- 2 What is Wisefund?
- 3 How Wisefund Works
- 4 How to Invest in Wisefund
- 5 Advantages of Investing in Wisefund
- 6 Cons of Investing in Wisefund
- 7 Wisefund Supported Countries
- 8 Is Wisefund Safe to Invest in?
- 9 Wisefund Customer Support
- 10 Wisefund Alternatives
- 11 Wisefund Review Summary
- 12 Discover More
Who Can Invest in Wisefund?
To invest in Wisefund, you need to meet the following requirements:
- Be at least 18 years old
- Have a passport or an ID card
- Have a bank account
- Be a citizen or resident of the European Union countries
Go to Wisefund Website
What is Wisefund?
Wisefund is a peer-to-peer lending platform that connects investors and businesses. Businesses looking for money can apply for a loan on the platform. Investors can then lend these businesses money and earn an average annual interest rate of 16%.
How Wisefund Works
Wisefund helps investors access funds for business startups or expansion. Investors use their online accounts to lend money to businesses.
Wisefund reviews applications and approves creditworthiness for businesses applying for loans. Wisefund then payouts loans and processes repayments for investors. Wisefund provides investors with security for their investment through a buyback guarantee feature.
After that, businesses make fixed monthly repayments with interest which is then distributed to investors. This way, investors get to earn a passive income.
How to Invest in Wisefund
To start investing in Wisefund, follow these simple steps:
- Create an account. The first step to start investing in Wisefund is to sign up on the Wisefund website.
- Fund your account. You can add funds to your Wisefund account through a bank transfer.
- Select an investment. The next thing you need to do is to find an investment. Wisefund does not have an auto-invest function and so you have to select a project to invest in manually.
- Earn a passive income. Once you have invested in a project, you will start earning an annual average interest rate of 16% from borrowers’ payouts.
Advantages of Investing in Wisefund
You will enjoy the following benefits by investing in Wisefund.
- Buyback guarantee. Wisefund has a buyback guarantee that secures investors’ funds against borrowers’ defaulting in repayment for more than 60 days.
- High returns. Investors get to earn high-interest rates of up to 16% by investing in Wisefund.
- Low minimum investment amount. You can start investing in Wisefund with as low as €10 and no maximum investment limit.
Cons of Investing in Wisefund
- No auto-invest function
- High fees of between 10% and 15% for an early exit
Wisefund Supported Countries
Wisefund does not support registrations from countries from all over the world. Wisefund only accepts EUR payments and to start investing in Wisefund, you must be from one of the EU countries, or EEA countries or Switzerland.
Is Wisefund Safe to Invest in?
Every investor is concerned about the safety of their money. Wisefund ensures the safety of the investor’s funds. The money invested by investors is kept in a separate bank account. Besides, Wisefund has a buyback guarantee that protects investors in case borrowers default in loan repayment for over 60 days.
Wisefund has 1.6 ratings on Trustpilot. Many people have complained that the platform is a scam while others have challenges in processing their withdrawals.
Wisefund Customer Support
You can contact Wisefund customer support by phone: +372 560 93 520 or email: support@wisefund.eu.
Wisefund Alternatives
You can invest in the following investment platforms as an alternative to Wisefund:
Wisefund Review Summary
Wisefund is a peer-to-peer crowdfunding platform that helps businesses secure loans from investors. It is based in Estonia and is open to investors from European Union countries only. You can invest a minimum of 10 EUR and start earning an annual average income of 16%. The downsides of investing in the platform are that it does not have an auto-invest feature, no secondary market, or a buyback guarantee.
Go to Wisefund Website
Discover More
