Welcome back for a new P2P investment update for May month. June is finally here, summer has officially started and people start to be able to move around more in most countries.
Cyprus eased up the lockdown in the second part of May so now I can go out without waiting for SMS approval, yey!. Shops and restaurants started to open slowly and they are going to accept tourists again from some countries around 9 June. Cyprus has been affected hard by the lockdown with no tourists for months now. Hopefully people here will start to get back on their feet soon.
But the big question is, are the countries opening up too early? The virus is still spreading. People seem to start forgeting the importance of distancing which is not good at all in my view.
As for my P2P investments it’s been a month that was expected to be slow. Many platforms and borrowers have been affected by the coronavirus and the pause in interest & repayment many countries put in place. But it looks like most of them had it worse in March/April and in May we did see an increase of both investors joining different platforms again and repayments from borrowers so that is a good sign. I still think it’s going to take some months before we might see things more normal again.
Estateguru Investment update May 2020
Things are going like expected with my Estateguru portfolio so far. All loans except one paid in time this month. The one that was late where 4 days late. I don’t see it as bad since it would be strange if everything always paid out 100% on time.
One of the loans got repaid in full early as you can see in the printscreen abow. It was scheduled to be for 1 year but they paid it all of now after just 2 months. That loan was at 12% and I managed to find a newone at Estateguru on 13.5% so it was a good thing 🙂
Interest received: €4.86
Other: €10 In referral bonus.
Average interest rate for the portfolio: 11.56%
Read my Estateguru Review here.
Crowdestor Investment update
There is not much to say about Crowdestor in May for my part. I was going to get repayments again from one of the projects but they got deleyed and will pay out in June. So no income from them this month.
Crowdestor started of by pausing all repeyments for 3 monthc becouse of Corona and then changed to individual plans for the projects which is a better solution. Even if I would have liked to see repayments as normal, Im glad to see that the crew of Crowdestor has been open and willing to answer many questions in this period. They started something called “10 in 10” where they answer investors most asked question one time each month which is a good initative.
And I have to mention the equity campaign they started which is promesing 26% yearly return. If you decide to invest in it, there is only 2 more rounds that is going to be avalible out of 5 in total. The first 3 is already finished and it looks like many investors have been happy to jump in on this. Those that invest in it can either just invest 1 year, take the 26% or if you invest minimum €5000 this can be converted to shares if some criterias are followed.
Read my Crowdestor review here.
Grupeer Investment update May 2020
Things are still worrisome with Grupeer and how they have handled the problems and communications to investors. I don’t know if they still let people register on the platform right now. But I would recommend NOT doing it before the truth is out about what’s going on.
Strange though I actually received some interest in my account in May. €2.41 received in interest. But is this just fake numbers or are they actually starting to fix the problems now? My biggest question around this is that they stated the bank accounts are frozen. So how can they move interest to the accounts? To many red flags around Grupeer right now.
They still have stopped all withdrawals on Grupeer. Is this a sign that they might just have been doing a sloppy ignorant jobb more than a flat out scam? We will have to follow this further and see what happens.
There is an ongoing lawsuit being prepered by the Grupeer Armada. This is a goup of investor that is taking legal action after Grupeer shut down most of the operations.
You will find more information on how to join the lawsuit and information on whats happened here at their website.
This was it for the May update. I’m looking forward to see if things will start to go back to normal June-July now.
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