Originating in the United Kingdom with branches in Poland and Italy, Fast Invest is a P2P lending platform affiliated with multiple European loan originators. Fast Invest is committed to maintaining and developing an investment model that bypasses the costly gatekeepers in the traditional banking system.
Any adult within and outside of the EU can sign up and invest through the Fast Invest platform. The only requirement is a bank account located in the European Union. In order to withdraw funds, investors are asked to provide a copy of their passport or national ID card.
Using the Fast Invest platform is free of charge for investors, minimum investment is just €1 and annual returns approximate 14 %.
Fast Invest Features
Fast Invest is accessible in multiple languages: English, German, Finnish, Polish, Italian, Spanish, French, Russian and Chinese. This allows many investors to navigate the platform and read informational material in their native tongue.
Setting up your own automatic investment scheme allows you to choose loan terms, desired interest rate, select specific countries, etc. Fast Invest does offer manuel selection of investment opportunities, but to most of us the automatic investment feature will make the investment process faster and much easier.
While manual setup of the auto investor will likely be the go-to option for most experienced P2P lenders, Fast Invest also offers three standard portfolio options for anyone who wants to get started quickly, rather than going into the details of loan management.
Fast Invest offers loan shares originating from a well-diversified selection of European countries. At the time of writing you can buy loan shares from Denmark, Poland, Spain and the United Kingdom with more to come.
All loans are listed on the Loan List and Calculator Page. Here you can calculate expected returns, view details of available loans and pick your preferences or just get an overview of the current loan market. The list offers a comprehensive filter and sorting feature. And when clicking the Invest button of any loan, several more details are provided about the loan as well as the borrower.
Benefits of Investing in Fast Invest
With a few exceptions, most P2P lending platforms offer loan shares in just one currency. Typically the Euro.
At Fast Invest loans are available in both Euro and Polish złoty, with USD and GBP loans in the pipeline. This allows for an extra layer of diversification, as you can set up a portfolio that is less dependent on the decisions of just one central bank. Just be aware of currency exchange fluctuations when diversifying across currencies.
If a loan payment is overdue by just 3 days, Fast Invest will settle the payment. The loan will be marked with a small symbol indicating that it is overdue, and that the missing payment is now covered by the default guarantee.
This method is different from most other P2P lending platforms. Usually a loan has to be delayed by 60 days, at which point the loan is repurchased in full. Instead Fast Invest repays each unpaid installment one at a time, allowing you to continue receiving returns on bad loans without worrying about the borrower’s ability or willingness to repay their debt.
Fast Invest uses the term buyback guarantee rather differently that most other platforms. While buyback usually means a guaranteed repurchase of overdue loans, the term has a somewhat different meaning here. Buyback does not depend on the status of a loan, Instead you decide if and when you wish to sell your loan shares.
Should you decide to stop investing in any loan at any time before the scheduled term end date, Fast Invest will buy back your loan. In order to sell your investment, simply select the loan and click “sell”. After one business day, these funds are paid out to your investment account.
This is a great feature in case you need to quickly liquidate all your assets or parts hereof. But be aware that when selling a loan share ahead of time, you forfeit all interest earned on said loan. In practice this is done my deducting previously received interests from the loan principal.
Low Barrier to Entry
Any adult with an EU bank account (get one here) and just €1 to spare can invest in P2P lending through Fast Invest.
While the potential return on €1 invested is not exactly enough to retire early, this easy access to the P2P loan market allows new investors to getting a feel of how P2P lending works, before they invest greater amounts. It also makes it easy for experienced investors to try out this platform without moving any “real” amount of money around.
Fast Invest offers the opportunity to convert any or all of your loan shares into cash in just one day. This is a great feature for anyone who may need their funds earlier than expected.
However, since this buyback guarantee can only be activated by forfeiting accumulated interests, the option should only be used when the funds are really needed or a much, much better investment opportunity comes along.
What Distinguishes Fast Invest From Other Platforms?
Fast Invest particularly differentiates itself in two ways: Default guarantee on defaulting loans and the opportunity for quick withdrawal of funds.
The default guarantee allows continuation of unpaid loans. Instead of either losing your investment or waiting 60 days for loan repurchase, Fast Invest continues payments on all loans.
In addition, the option to resell all loan shares are an attractive option if used with caution. This practically allows you to invest and withdraw any invested amount at the click of a button.