So far, with the exception of Estateguru, I had only buyback platforms on the monitoring page. Therefore I would like to report today about my first experiences with Envestio. With Envestio another P2P platform is added, which doesn’t offer a “classic” buyback, but attracts with significantly higher interest rates. According to the website, up to 22% interest per year is possible.
With the currently available credits two projects are actually listed with 22% p.a., which are however already funded. The other available credits are also not uninteresting with 17 – 21.50 % interest per year. On the homepage they currently advertise with an average interest rate of 19.45% p.a..
Before we take a closer look, let’s take a look at the basic data on investing with Envestio.
- Who can invest?
There are no restrictions on the homepage, as a German, I was able to register without any problems and was quickly activated.
- What is the minimum investment required?
The minimum investment in a project is 1,00€.
- Cashback / Offer
Envestio offers new investors via this link a bonus of 5€ + 0,5% of the investment of the first 270 days, if at least 100€ is invested. I also get a bonus for every advertised investor, with which I keep this blog up and running.
Projects financed so far
If you have a look at the successfully financed projects of Envestio, you will find some real estate projects, but also projects with graphic cards in the project photo. This is because Envestio has brokered a series of financings for a cryptomining project. Who invests here, has not invested in cryptographic currencies, but has financed the acquisition of the mining hardware for a company. Furthermore, there are projects for the expansion of a wood chip power plant and projects called “urban mining”, a company that recovers raw materials from waste (old computer boards,…) and resells them.
Envestio has so far clearly focused its financed loans in its own environment, around Riga.
Compared to the buyback platforms that are currently shooting up, Envestio claims to have been active since 2014. Which nevertheless makes it a young company with the corresponding risks.
The company is based in Riga. Jørgen from financiallyfree.eu was on site and met with the founders, as well as personally inspected some projects. You can find his detailed travel report in his blog.
Risk of investments
Envestio has two classes of investments, secured loans and subordinated loans. Secured loans have a security, as examples land charges and personal guarantees are given on the website. Subordinated loans have no such collateral and are therefore more risky. Envestio currently tries to offer all new loans as secured loans. In addition, Envestio is currently trying to convert the existing unsecured loans into secured ones, of course at the same conditions.
The somewhat different buy-back guarantee
Envestio has renamed its guarantee, first called “Buyback”, after critics that it has nothing to do with the name now established by platforms such as Mintos, Swaper, Peerberry, etc.. It is now called “repurchase-garanty” and works somewhat differently.
The Envestio guarantee enables the premature sale of a loan. You sell to Envestio, you get back the accrued interest and the credit share, but there is a fee for it, which can be different for each project and each Investor. It is displayed in your personal area.
I have invested 100€ in EN18016 Power Plant – Development. In my dashboard the loan appears under “My Investments”:
I can request the repurchase offer by selecting a loan and clicking on “Sell” there. The offer will then be displayed.
My first envestio experiences
Envestio is young and has a short track record so far, personally I like the approach, which is why I started a trial run with 500€ and will continue to report on Envestio in my monthly yield overview. The interest rates are interesting and there are interesting projects with a term of 4-6 months. Be curious how my envestio experiences will continue.
If you are interested in Envestio and register, you will receive 5€ + 0.5% of your investments of the first 270 days via my link.