What is PeerBerry and will it provide safe, reliable and high returns? Read this review before you invest.
PeerBerry is a brand new no fuzz crowdlending platform based in Latvia. They offer a simple user interface and a 12 % (13 % for Ukrainian loans) interest rate with buyback guarantee.
The platform is owned by major lending company, Aventus Group, which offers loans in Czech Republic, Latvia, Poland, Georgia, Ukraine and Kazakhstan. Anyone in EU, Switzerland, Russia and Ukraine can sign up to become investors.
PeerBerry cooperates with a long list of loan originators, which facilitate all loans on the platform and cover all buybacks.
Exposure to the East
PeerBerry covers the lending market in Czech Republic, Latvia, Poland, Georgia, Ukraine and Kazakhstan.
Investors are offered the opportunity to take advantage of an auto-investing robot. It’s easy so set up and ensures that your money is always working for you. PeerBerry investors can put as little as € 10 into each loan.
Benefits of investing in PeerBerry
High interest rate
PeerBerry facilitates mainly consumer loans, which they offer as shares to investors at a generous 12 % (13 % for Ukrainian loans) interest rate. The fixed interest, combined with buyback, offers very little doubt about the real annual return rates.
It’s not yet certain what the maximum loan term will be. Currently all loans on the platform are very short-term. I.E. 30 days or less.
These types of loans means, that you have easy access to cash, should it be needed. If you pause the auto invest feature, most most of your invested portfolio will convert to cash within one month.
Ease of use
The PeerBerry platform has a clean design and is very easy to use. There are no fancy features or figures, and it does what a P2P lending platform is supposed to do: Facilitate loan shares, pay you interests and automate the process.
Besides the investing functionality, you also have access to a statistics interface. Here you can see transactions and account details, such as amount invested, interest received etc.
Loans with delayed payments will be bought back 60 days after the original pay date. PeerBerry even guarantees that on their front page:
Established in October 2017, PeerBerry is a very young platform, inexperienced with peer-to-peer lending. Being a newcomer, they are less experienced in servicing P2P-investors.
Often it’s a safer choice to go for older and larger platforms, as they are less likely to fail. Although, this risk is mitigated by the fact that PeerBerry is basically an extension of market leading Aventus Group (est. 2009), which has 0.5 million customers and an 18 million loan portfolio. In other words, although they are new to P2P lending, they have years of experience in lending and in dealing with delayed payments etc.
What distinguishes PeerBerry from other platforms?
PeerBerry is offering a very accessible investment platform without all the bells and whistles. It’s easy to use, easy to understand and expected returns are easy to assess. This makes it a good choice for those who don’t want to manage their money, but rather let the money work by itself.
Add in the high interest rate plus a safety net in the form of buyback guarantee, and you have an attractive platform.
In addition PeerBerry covers large parts of Central-/Eastern Europe and Central Asia. Investors who are looking to expand their Western European portfolio, may be interested in looking towards the East for new opportunities.