Month of overcoming

My portfolio update: February 2021

Yes, a month of overcoming. February has outperformed January: €402 profitability with €28,600 invested in European platforms, because the only Spanish platform – Housers – has failed to meet its payment commitment for the fourth consecutive month.

In January I reported Housers and the developer Construbecker to the Madrid courts and on 10 March I have to ratify the complaint.

Here are the details of the current state of investments:

Mintos has returned €10 this month out of the €971 in the process of recovery and I no longer have anything invested. They have incorporated more information on historical performance, among other new features.  

Peerberry continues to deliver excellent news and generate enormous confidence. They have published a new Real Estate project in Vilnius at 10%. They continue to have no defaults since their inception in 2017.  

Viainvest is still suffering from the lack of publication of projects since December, so I have withdrawn €68, but they are keeping their payment commitments. 

I continue to be very happy with Robo.cash and the 44€ generated will be increased in March since I will reach 5,000€ invested, which carries a 0.3% more profitability. 

Crowdestor has performed better in February, generated €315 in interest and met almost all of its commitments, although others are experiencing delays and communication is not going smoothly.

In Lenndy I have withdrawn €179 in February, the projects are all still behind schedule and I will continue to withdraw until they resolve the current lack of confidence. First Finance is still suspended. 

From 2 February, they have a secondary market to sell those projects that do not convince you. Maybe all of them?

Bondster has returned €10 in February, but I continue to withdraw slowly and intend to keep a small portfolio of €300 until they stabilise.

Although they suffer many delays, they apply their 60-day Buyback on time.

Lendermarket gave me a pleasant surprise in February with an extra €3 in bonuses, which added to the €3 interest, makes it the third most profitable platform. 

In contrast, Iuvo has only offered a meagre euro of interest, also due to the fact that almost all projects are behind schedule. But I’m not worried, because they’re applying their Buyback on time. 

Nothing has been heard from Wisefund after funding two projects in January, apart from the class action lawsuitfiled against them. If you want to sue, below I give you the details of when and how to do it. 

There have been no new developments in Bulkestate, but in March my project ends and I will take the opportunity to reinvest part of the capital also in its competitors: Evoestate and Estateguru.

In February Crowdestate published 8 new projects, but they still don’t show me confidence. Currently, they have €11.8 million owed for delays and 1.9 unrecoverable for four projects. 

With reference to my three projects, I hope that a buyer will acquire Baltic Forest’sassets, because the bankruptcy process is very slow. 

Grupeer is fighting against everyone to defend his lousy management: investors, plaintiff law firm (Ellex Klavins) and originators.

Nobody knows what Grupeer’s next move is, but for the time being everything seems to be settled in the Latvian courts.

More information on the class action and how to join the waiting list is available below. 

For the fourth consecutive month, Housers has once again failed to meet its payment commitment on several projects and others have not been paid for years. 

In March I have to ratify in court the complaint against them and Construbecker for the €70,000 of capital owed plus interest on two projects. 

In legal terms, Housers continues to accumulate problems:

  • the lawsuit against the developer of the Santa Eulalia project has been ratified
  • Court response awaited in the lawsuit against Antonio Brusola for unfair administration
  • notice of civil lawsuit against Housers remains pending
  • filed criminal complaint for qualified scam against ByNok for five projects

The gains against Envestio, Kuetzal and Monethera have been significant, as you can see below. 

Mintos (extended version)

One more month that Mintos has presented a dismal performance: €10 return on €971 in the process of recovery (1%) and I no longer have anything invested.

Without comparison, it is the number one P2P platform, with more than 6 billion euros invested. But it has given me nothing but headaches.

New this month, they have published their historical net returns. There is no need for words:

Or stated in terms of annual net loss, the result would be this:

Another novelty is that they have changed the conservative strategy in “Mintos Strategies”: originators with less than 3% of outstanding payments (previously 10%).

They are also being brought into line with European requirements, applying access security with two-factor authentication.

In reference to the originators, here is the news from February:

  • ExpressCredit Namibia offers returns of up to 13.5% on short-term loans
  • Mogo Finance Group has released its unaudited 2020 results, up 24% on 2019
  • Delfin Group has also presented an 8% increase in 2020
  • 5 originators have left Mintos: Stik Credit (Bulgaria), Finko (Georgia), BB Finance (Finland), ITF Group (Bulgaria) and Aasa (Sweden)
  • Capitalia has also stopped working with Mintos, but will continue with existing projects until their completion
  • Mogo Latvia has launched €30 million in bonds

I have removed the welcome bonus from my blog, as I do not trust Mintos and their recovery policy. At the moment, I do not recommend investing with them.

In an interview with CEO Martins Sulte, he sets as a priority for 2021 the management of the €94 million in recovery. We will see.

If you really want to invest in Mintos, log on to this website to verify that you are investing in originators with scores above 65.

My yield continues to fallmonth by month and stands at a dismal 5.81%:

Peerberry (extended version)

This month Peerberry has published a new 12-month residential project in Vilnius (Lithuania) at 10% that will require financing of 2.3 million euros: Skvero namai.

In addition, they have welcomed a new originatorfrom Sri Lanka: Cash X. They specialise in short-term loans and offer 12% per annum.

In February they exceeded €4.8 million of interest paid and here is a sample of the status of their projects: 81.82% current; 2.02% overdue between 31 and 60 days 😉

2.02% overdue 31-60 days; NEVER overdue for more than 60 days

I expose my dashboard as shown:

Viainvest (extended version)

What’s wrong with Viainvest? It continues to suffer from a lack of project releases since December and does not seem to be able to increase them on a regular basis.

For this reason I have withdrawn €68 that had been held up for a week, but they are keeping their payment commitments.

If they solved the lack of projects, together with Peerberry and Robo.cash they would be in my TOP 3. Despite this, I am still satisfied with Viainvesty’s security and the €6 earned in February.

Like Mintos and Peerberry, their plan remains to obtain a IBF license to comply with the new European regulations in 2021.

In February I have a portfolio of 31 loans, of which only 6 are in arrears. They are essentialfor financial freedom and at a current yield of 11.91%:

Robo.cash (extended version)

I am still VERY happy with this platform, which has just celebrated its 4th birthday. This month has brought me €44 in interest and they have announced several new features.

To start with, in February they launched a new product with returns between 11% and up to 12.7%:

Project between 1-29 days: 11%; Between 30-179 days: 12%; Between 180-364 days: 12.3%; Between 1-2 years: 12.5%; More than 2 years: 12.7%

Another big novelty is that they will have changes in their secondary market from 16 April: they will allow the sale of any project at any date (from 180 days until now) and without any commission.

On the other hand, they have published their latest statistics: €220 million financed and 13,000 investors from the EU and Switzerland. In addition, they have changed the design of the web, more intuitive and modern.

There was also time to welcome the new originator Robocash.kz from Kazakhstan, which will soon replace the existing TezFinance.

This month I have increased by €1,100, I have a return of 12.40% which you can see below and a small delay of €687 on a total of €3,720 invested:

In March I intend to add another €1,200 to reach the magic figure of €5,000 which will allow me to earn an additional 0.3% thanks to their loyalty programme.

Crowdestor (extended version)

This month I’m more satisfied with Crowdestor. The €315 generated in interest is a sample, also reflected in the increase in yield from 14.32% in January to 15.25% in February.

Although in February they have fulfilled almost all their commitments (partial payment of the Mafia Stars, Forestland Investments and other projects), several projects continue to suffer delays, but what I find worst is the absence or delay in communication from the platform.

In February, the announcement of the Kabuki Restaurant at Salaris project stands out, in which legal proceedings have been initiated against the developer.

There has been no news from Wholesale Food Trade since November, although other projects have shown encouraging signs: Inch2, Forestland Investments and Old Town – Kaleju 57, among others.

Finally, there was no news from the Fertilizer Export Financing project in February. The last thing we knew was that legal action was taken in January.

And here’s a screenshot of my current situation:

They remain unique when it comes to project finance: they currently have 8 assets offering between 20% and 36% from 6 to 12 months and have another one about to be published. Good for them!

Lenndy (extended version)

They accumulate a lack of investor confidence, which is why I withdrew €179 in February. ALL projects remain more than 31 days overdue and have begun recovery efforts with First Finance, which remains suspended.

This is my dashboard as of February 28th:

Delays of more than 91 days begin to accumulate

Since 2 February they have had a secondary market, but each sale carries a 5% commission. I have posted 2,125 projects for sale as of February 28th. General escape.

This month they have published other news:

  • Stop issuing short-term loans WITH Buyback
  • They are negotiating terms to buy back Buyback loans from each originator to avoid losses to investors
  • The First Finance audit has started. Report to be submitted by the end of April, but 1.7 million in problem loans estimated

My position is to withdraw everything invested in this platform until the situation is resolved. By logic, I’ve removed the bonus for new users.

Bulkestate (extended version)

In March I will receive my €36 interest on the Amalijas Street project I invested in a year ago.

It takes a long time because they hardly publish projects with monthly payments, and they publish very few projects. There have been four in February.

But I have full confidence in them, they have no negative feedback and their loyal legion of followers are filling the available supply with their autoinvest.

Now that I have studied their natural competition – Evoestate and Estateguru – I would like to diversify among the three, although with nuances that I will publish when I invest in them.

Wisefund – possible scam (extended version)

After the two new projects published and financed this year, they have not given any signs of life again.

Something very rare happened, because the App Acquiring Venture project was funded in less than 20 days by only 29 investors. This averages 4,131€ per investor. Weird, isn’t it?

I do not know if any collection management is being done through the company Cis Debt Recovery Solutions.

As of 28 February, the interest for March, July, August, September and October of the Dutch Flowers project, amounting to 118€ and due on 13 October, has still not been reported or paid:

There is already a class action lawsuit against the platform among all potential affected, initiated by the law firm Magnusson that already works in the cases of Envestio, Kuetzal and Monethera.

At the moment, the most up-to-date information can be found here. If you are interested in accessing the lawsuit, you have to wait for the bankruptcy to be declared.

A new round will then be opened to join the complaint group, but you can go ahead and join the waiting list here.

Bondster (extended version)

This month I have reduced my exposure on this platform, but I will stay on it because I have seen a very positive change in their communications.

They have published various figures: 80% increase in the volume financed in 2020 compared to 2019, doubling also the interest payment to investors.

These figures make it the third most profitable platform in Europe, at around 15%.

For example, Russian originator Lime Zaim pays 15.5% on short-term loans with Buyback.

One piece of news we were all looking forward to receiving is the status of several originators who are habitually late with their payments, a welcome summary that makes us think positively.

Another new development is that they have announced their new CEO: Pavel Klema. I will give you more details of his profile in the next update.

Here’s my current situation:

Crowdestate (extended version)

In February they have been very active, publishing 8 new projects, but I am still not investing in them because they do not return capital or interest on my three projects associated with the Baltic Forest company.

It has been more than two years, when its duration was 12 months, so you won’t see me investing in or recommending this platform.

In reference to these failed projects, the Bankruptcy Committee met on 10 February to deal with a debt of more than €33 million.

It appears that there is an interested buyer represented by the law firm of PwC. Let’s hope the sale runs, because I won’t be able to wait 70 months.

Crowdestate has €11.8 million owed in arrears, plus €1.9 million irrecoverable from four projects: Metsa Tee 31/33/35, H.M. Seafood I and II and Estera Development Holding.

Lendermarket (extended version)

In February they gave me an extra €3 for the welcome bonus, which added to the €3 interest, makes it the third most profitable platform in my portfolio.

In February they published their 2020 figures: 28% increase in their portfolio to €144 million and a 12% profit compared to 2019.

In addition, they have retained €1.5 million to cover possible defaults due to Covid, which have not yet had to be applied. Good management!

In December I deposited €300 on this platform and after two months, this is my control panel, which shows hardly any delays:

Here you can see the pros and cons I find in this platform, but basically I have decided to go for them because they are located in Ireland, they are associated with the huge Credistar Group and the originator is obliged to participate with a minimum percentage of 20% in each project.

Iuvo (extended version)

I have also been investing €200 in Iuvo for just over two months and I am still satisfied with the results, even though the return is somewhat lower. In any case, it has increased from 10.65% to 10.96% in one month.

Here you can see my current dashboard:

Account Balance: 202.42€; Available Funds: 0.68€; Invested Funds: 201.73€

I also show several photos that I consider important:

Average interest per originator: Kviku has the highest yield and Vivacredit the lowest.

Chart: 99.85% of loans apply 60-day Buyback; Chart: 14.66% are A loans with minimal risk

This month they have a welcome promotion in which they offer 1.5% of the amount invested from €1,000. If you invest this amount, they give you 15 euros. €2,000 would be €30. To take advantage of this bonus, you must write to me at info@libertad-financiera.eu.

Housers (extended version)

Housers has not paid for the Albufera III and Torres de Paterna projects for four months now. Of the remaining six projects, it is not four months, but several years of non-compliancewith their payment commitments.

This month I have again received ZERO euros in interest despite having almost €107,000 with them.

And how have they reacted since Housers? They have included several promoters in the National Debtors Registration list.

They have also come up with a new administrator promising quarterly instead of monthly payments. What monthly payments do you refer to? Because I have not been paid for many months. Specifically, 25 in this example:

NO PAGAN DESDE ENERO DE 2019; NO PAYMENTS SINCE JANUARY 2019

Those of you who follow me already know that in January I filed a complaint with Construbecker for almost €70,000 of capital owed and on 10 March I am due to ratify the complaint in Court.

And it’s not the only lawsuit that’s coming their way, because other legal matters are brewing here:

  • the lawsuit against the developer of the Santa Eulalia project has been ratified
  • Court response awaited in the lawsuit against Antonio Brusola for unfair administration
  • notice of civil lawsuit against Housers remains pending
  • filed criminal complaint for qualified scam against ByNok for five projects

If any of you want to sign up for a lawsuit, anyone who has a single euro invested in a project that is being sued can sign up.

If you have any questions about how to proceed, you can contact mevia email info@libertad-financiera.eu

There are also two very active Telegram groups to know all the news: https://t.me/housers_foro and https://t.me/housersCom

Many of you have communicated with me from all over Europe, mainly Italy, Portugal and Spain. I will continue to respond promptly to your emails.

If you want to know more about all the Housers projects I’ve invested in, don’t stop clickinghere.

The Association of Affected People to confront them in court is receiving more and more enquiries and can be proud of the impact they are having in the media.

This is the latest news, dated 20 February, about a possible legal settlement between the two founding partners of Housers. We will see what happens.

Grupeer – possible scam (extended version)

They have reappeared with a new blog post, which you can read here. In short, they claim to have prepared the documentation to denounce the originators’ non-payments.

BUT, they have been paralysed because they feel aggrieved by the insolvency petitions initiated by some investors. What did they want?

They say they want to agree with the investors’ law firm in Latvia (Ellex Klavins) to launch an offensive against the loan originators.

Grupeer has taken the position of permanent victim because of the pandemic, the banks, the investors, the lawyers, the originators,… but they have not taken any responsibility to date.

On 27 January, the lawyers of Grupeer (Repšs & Kvēps) and the investors (Ellex) met. Here is the letter sent by Ellex.

Ellex’s initial request has been to see Grupeer’s financial statements and to carry out an external audit of all originators.

It seems that Grupeer’s intentions are different and they want the Buyback clauses to be declared invalid. What scoundrels!

Grupeer does not want to return the funds voluntarily, so Ellex has requested recognition of the debts, its financial status and that of its affiliated companies.

If you want to join the waiting list, here is the direct link.

The curious thing is that the new blog article no longer mentions the company Recollecta, which was supposed to be responsible for collection management.

Monethera – confirmed scam (extended version)

The Magnusson law firm already has the movements of all the banks involved, so it is time to initiate a plan of action against the debtors.

With this information, the map of entities collaborating with Monethera will be completed and we could receive good news in the coming months.

Envestio – confirmed scam (extended version)

It seems that the Magnusson whistleblowers have positive news regarding some of the originators.

There are several properties and vehicles in the portfolio that after their sale will swell part of the funds to be returned to those affected when the Court determines it.

However, there are still a number of companies that continue to shirk their responsibility, and these seem to be helped by a number of banks.

Kuetzal – confirmed scam (extended version)

Kuetzal has a more complex network, with companies in Estonia, Latvia, Russia, several countries in Central Europe and Hong Kong.

A number of properties and vehicles have also been blocked to cover part of the funds to be recovered, although for the time being these are very insufficient.

On the other hand, less progress has been made than against Envestio, but the news remains optimistic.

As with Envestio, of which Kuetzal shares some entities, managers and fake companies, I cannot provide any further details so as not to give away the work that is being carried out, but great advances are being made.

RECOMMENDABLE PLATFORMS (neither Housers, nor Mintos, nor Crowdestate, nor Bondster, nor Lenndy) THAT OFFER WELCOME BONUSES:

PEERBERRY: 0.5% of your investment during the first 30 days

VIAINVEST: 15€ bonus with a minimum investment of 50€

CROWDESTOR: 1% of your investment during the first 90 days

ROBO.CASH: 1% of your investment during the first 30 days

LENDERMARKET: 1% of your investment for the first 30 days

Si te gustó, ¡compártelo!
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