Review of PeerBerry P2P Platform – 2019

PeerBerry Review - 2019

What is PeerBerry?

PeerBerry is a P2P platform connected to the European Aventus Group (not to be mistaken for the Australian Aventus Group).

The Aventus Group has its main office in Vilnius, Lithuania. It has a 10-year track record of profitable business results in Europe and Asia.

In 2017, Aventus Group launched the PeerBerry P2P platform for investors to invest in short-term consumer loans across 7 countries in Europe and Asia. They opened the main office for PeerBerry in Riga, Latvia.

While most loan originators are directly connected to Aventus Group (like pujcka7, smartpozyczka, pozyczkaplus, niewielkapozyczka, Credit Plus, Credit Star, Eurostar finance, and Auto Money), you can also find loan originators in Czech Republic, Denmark, Lithuania and Ukraine connected to Gofingo.

PeerBerry also offers investing opportunities in Lithome LLC – a company mainly focused on real estate.

Aventus Group



A summary of financial data for each loan originator is easily available at PeerBerry. Just expand the information for each loan originator on the faq or about page.

Obviously, you could wish for more data about each originator, but these summaries at least give you a good overview and tells you if an originator is profitable or not.

There is no financial information about PeerBerry itself.

Our Investments

We started investing with PeerBerry in February 2019. So far, we think it is a good platform to start your P2P investments and to gain experience in this market.

It has a good flow of new loans and compared to other platforms the number of delayed loans in our portfolio is very low.

The average return is around 10-11%, which is also very good. Our current annual return is slightly over 11%.

Obviously, these number will vary depending on the type of investments in your portfolio.

Current annual return

It is an easy sign-up process and for your peace of mind, investments normally comes with a buy-back guarantee.

Who Can Invest with PeerBerry?

Even if the agreement doesn’t specifically disqualify investors outside the European Union, PeerBerry currently only accepts investors from the European Union (EU).

You must be at least 18 years old.

You must also have a bank account within EU.

Your first transfer of funds into PeerBerry’s bank account must be made from your own bank account. PeerBerry will later use this as the account into which your withdrawals are made. Future investments can be made through any payment or electronic money institution within EU.

You don’t need to upload any identification during the sign-up process. PeerBerry only requires this before you withdraw funds. We, however, strongly recommend you make sure your documents are accepted before making your first investments.

Expand and read more about the user requirements!
  • the User is a natural person or a legal entity;
  • if the User is a natural person, the User must be at least 18 years old;
  • the User must have the User’s Bank Account, and the User must be authorized to freely handle such account and funds contained therein (if any);
  • no insolvency procedures of the User have been announced/ initiated;
  • pursuant to a judgment that has taken effect, the User (natural person or representative of legal entity) does not have limited legal capacity due to disorders of mental nature;
  • the User (natural person or representative of legal entity) is fully legally capacitated and is not under the influence of alcohol, drugs, psychoactive, toxic or other intoxicating substances;
  • the funds (of both natural persons and legal entities) involved in the transactions within the i-Platform are of a legal origin and are not acquired as the result of a criminal offence, either directly or indirectly, or related to financing of terrorism or an attempt of such or any other illegal activities.

euro bank notes

How Can I Add or Withdraw Funds?

PeerBerry doesn’t add any fees for transactions. All transactions are free of charge.

Minimum withdrawal from your investor account is €1. Minimum investment in one loan is €10.

This is similar to what most P2P platforms use.

The easiest way to transfer money to your investor account from your bank account is through SEPA (Single Euro Payments Area) transfers. These transfers don’t carry any extra bank charges.

After your first investment, your bank account is registered and verified by PeerBerry. You complete a withdrawal to this account with a few clicks. Money is available after just 2-3 days.

If you use a bank account in any other currency than Euro, you should be aware of the added currency risk.

Tax Information

PeerBerry has no specific tax information and the company does not withhold taxes.

As with most P2P platforms you must create a tax record for each year and pay tax in accordance to the rules in your country of residence.

PeerBerry Buy-Back Guarantee

How Does the Buy-Back Guarantee Work?

The buy-back guarantee means that the loan is bought back if the borrower can’t pay back the initial loan. This guarantee kicks in after 60 days.

Almost all loans on the platform are guaranteed by the loan originator. The guarantee covers both the remaining principal amount and accumulated interest of the loan.

PeerBerry has both direct and indirect investment structures with the loan originators. Loans within EU are direct investments, which means that you will have a claim against the borrower directly if the loan originator should go out of business. This is not the case with loan originators from Russia or Ukraine.

Is this structure important? No, not really. It usually makes very little difference if the loan originator defaults – unless you invested very heavily in one specific loan. Then, you may go after the borrower. Otherwise, you should consider your money gone. This is the risk involved with all P2P investments.

After six months of investing with PeerBerry and focusing on short loans in Poland, we have found that the number of delayed loans have been very low. We rarely see any loans delayed more than 30 days.

Manual Investments on Primary Market

You can invest manually by picking your loans from a list of available loans on the primary market.

If you have a specific strategy, you can filter the list of loans by:

  • Interest rate
  • Loan term in months
  • Available amount
  • Country
  • Loan originator
  • Loan type
  • Buy-back guarantee

Countries available are Czech Republic, Denmark, Kazakhstan, Lithuania, Poland, Russia, and Ukraine.

Available loan types are Short, Installment, Leasing, and Real Estate.

Depending on your strategy, available loans are usually enough to diversify with different originators, countries, and loan terms. But be aware that many loans in mature markets are small and quickly funded.

Filtering options - Primary market on PeerBerry

For each loan, you will find information about the borrower, including number of previous taken loans and how long the borrower has been a customer with the originator. This information is very valuable and can be used to evaluate the risks involved.

borrower details

Auto Invest Tool

To simplify your investing, you can use the auto invest tool. Like other auto invest programs you can create a portfolio that never exceeds a certain limit. You can make sure all loans come with a buy-back guarantee and re-invest when new funds are added to you your account.

In our portfolio, money sometimes sits idle during weekends but are quickly re-invested during weekdays.

Unlike other platforms, PeerBerry does not have a secondary platform. It means that you cannot sell a loan before it expires. Your investment is locked for the term specified.

With short term consumer investments this is usually not a big issue.

Platform Speed and Reliability

While the platform is easy to use, there are still a few issues related to speed and reliability.

Statements can take several minutes to complete, which is very annoying. The platform would benefit a lot from having statements and information easily accessible.

The lack of search function and limited FAQs also makes it difficult to navigate the website.

We hope that these glitches will be taken care of in a future upgrade of the software.

Referral Program

PeerBerry doesn’t have a referral program in place yet.

Loyalty Program

Depending on how much you invest, PeerBerry adds you to different loyalty categories. With investments more than €10 000 you may get an additional return between 0.5% and 1% on your investments. The return depends on your loyalty category.

What Others Think

PeerBerry reviews trustpilot

PeerBerry has only 8 reviews on TrustPilot, despite more than 13,100 users. (Compare this to Iuvo-Group with 131 reviews and less users).

Like it

I’ve been using Peerberry for almost 1 year now. My return rate is between 10.6% (my calculation) and 12.01% (Peerberrys calculation). All my funds are continuously invested using AutoInvest and there are usually enough loans available. The website is also easy to navigate, and deposits/withdrawals work quickly.

Edit:
Self-calculated XXIR is at 11.1% after 14 months of investing, which I’m very happy about

Nice platform but loan performance is mediocre

I have been investing with PeerBerry for a while now and I can say that the platform is great, but the loan performance is mediocre. I only invest in short term loans and have very few that have been paid on time, but I am not too worried since they all come with a 60-day buyback guarantee. You can read my in-depth review on my blog.

What We Think

Pros – What We Like

  • Simplicity and easy set-up
  • Flow of short-term loans
  • High returns

Cons – What We Don’t Like

  • Website response time – extremely slow for reports
  • No search function – which makes navigation difficult
  • FAQ – can be improved by adding more information
  • No chat function



Summary

Founded
2019
Users
13 100 (September 2019)
Total funding
€128M (September 2019)
Country
Riga, Latvia
Company annual reports
No
Company owner info
Yes
Investing in:
Czech Republic, Denmark, Kazakhstan, Lithuania, Poland, Russia, and Ukraine
Currency
EUR
Type of loans
Personal loans, Real estate
Individual borrower info
Yes
Individual borrower grading
No
Risk grading
No
Buy-back guarantee – delayed loans
Yes (60 days)
Investment fees
No
Withdrawal fees
No
SEPA Bank transfers
Yes
Primary market
Yes
Secondary market
No
Referral Program
No
Auto-invest tool
Yes

Rated by P2P Investments:

Ease of website functions
Good
Ease of sign-up process
Very good
Ease of money transfers
Very good
Loan availability
Very good
Loan diversity
Good

Current Stake by P2P-Investments.org:

Initial Deposit (Feb 2019):
€600
Current portfolio balance (Sep 2019):
€6 252

Last Update: September 10, 2019

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