One step forward and half a step back

My portfolio update: April 2021

This sentence defines the month of April: one step forward and half a step back, because the €258 return is somewhat disappointing.

And the disappointments are Housers, which is usual with a few exceptions, and Crowdestor, which in April brought in a measly 14 euros.

Fortunately Peerberry, Robocash and Lendermarket continue to do their job perfectly and give me nothing but joy.

This month I can’t blog much more due to time constraints, but here’s a summary of the main news from each platform:

Mintos continues to show its appalling management in the recovery of overdue loans, which this month accounted for €1.32 of the €960 outstanding.

Hopefully, the end of moratoriums in several countries will help to accelerate this process.

This month the Mexican originator Swell (up to 11% interest, 36 month periods, skin in the game of 10% and Buyback) has joined.

Mikro Kapitalhas also expanded its portfolio to Uzbekistan (up to 11% annual return, 23 months duration, skin in the game of 10% and Buyback), while E-Cash has been suspended.

DelfinGroup plans its IPO on the Latvian stock exchange in 2021 and maintains €13 million financed in Mintos.

Mintos has published a 44% growth in financed volume in the last 6 months compared to the previous 6 months.

Peerberry continues to outperform and has published its excellent first quarter results (€102 million portfolio vs. €60 million in 2020, €31 million over €23 million in 2020, doubled the number of employees in one year, etc.).

In addition, this month I set an all-time record with them by generating €81 in interest.

It plans to expand its market to Kenya, India and Romania, to expand its development in the real estate sector and in factoring.

This month they have improved their mobile app for Android, while it will take a few more weeks for iOS.

Viainvest has expanded into the Philippines under the banner of Vamo Lending Inc. with a 12% return, no Buyback and the possibility of early exit at one, three or six months’ notice.

On the other hand, they are going to stop issuing new projects in Spain under the VIA SMS Group brand.

They continue to suffer from a lack of projects on occasion, although they have recovered from their worst initial months this year.

With regard to Robocash, I can only confirm that I am still very satisfied with the €57 generated.

They have beaten their own forecasts and published their audited annual accounts by FBK Grant Thornton, which corroborate their excellent results: USD 24 million net profit and a 58% increase in the value of the group compared to the previous year.

As previously announced, Tez Finance has been replaced by LLP MFO Robocash.kz

The first big disappointment of the month arrives: Crowdestor has contributed €14 with 75% of its projects in arrears, few or late explanations and future promises of payment.

Below is a picture of my dashboard.

In April they have launched 7 new projects with a total volume of €835,000 and 530 new investors have registered. In March there were 12 projects, €1.6 million and 620 new users. Change of cycle?

They have published the results of the questionnaire which shows that 44% of investors are satisfied with the platform and that the greatest dissatisfaction comes from delays in payments.

Finally, in April they have changed their FAQ section and the secondary market is very active with new unforeseen delays.

Lenndy has refunded virtually none of the Buyback management monies and has re-announced that they will no longer issue projects under this guarantee.

As a result, its secondary market is buzzing with projects for sale and few purchases.

As I said last month, I am very unhappy with Bulkestate. The project in which I had invested for 12 months and which ended in March, will be delayed for another year.

Needless to say,I do not recommend investing in this platform until they catch up with payments on the many projects in arrears.

Bondster has brought some news in April: originator Stikcredit has published its 47% increase in sales in 2020.

On the other hand, the Bulgarian originator ITF has increased its interest rate from 10 to 11.5%.

I am pleased to learn about the situation of the originators in the process of restructuring thanks to the informative emails that they send openly, without any hint of secrecy.

The great joy of the month, along with Peerberry, was provided by Lendermarket, which contributed €84 in profitability between interest and bonus.

The first quarter results of its parent group – Creditstar Group – have been published, with a net profit of €1.7 million.

They have set aside €1.5 million for possible defaults on Covid, have launched the company Monefit in Finland and will launch new bonds worth €8 million in June.

Iuvo continues to go from strength to strength and this is the fourth month that I have made €1 profit.

The originator in which I invest in roubles, Kviku, has published its excellent audited results for last year (+40% gross profit).

iCredit Romania has also generated €1.36 million in gross profit in 2020 and already has 1,400 employees in 103 offices.

It is also a joy to know that they have started the process to become a regulated company under strict European guidelines in the P2P market.

Crowdestate has not provided any profitability for more than a year and they have not provided any news in the bankruptcy process of the company where I have invested €2,600.

They maintain €11.8 million owed for delays and €1.9 million irrecoverable from four projects.

The usual disappointment called Housers has avoided paying out this month on any of the nine active projects.

For the time being, the new class action lawsuit that was to be filed against Housers for 33 projects has been delayed because the lawsuit will be extended to more than 60 projects. I will report to you shortly on its implementation.

But the collective criminal complaint for alleged fraud and embezzlement against Housers and ByNok has already been admitted for processing, and the founders of the company are due to testify on 27 May.

Any investor in the ByNok projects (Boladilla Village and Hills, ByNok, Mediterranean Hills and Bond Hills) can join the lawsuit by contacting the lawyer Manuel C. Merino: manuelm.ab@gmail.com

Housers published on 8 April that it has closed a capital increase round of half a million euros and intends to raise a further 4 million euros next summer.

In addition, founding partner Antonio Brusola has agreed to leave Housers after 3 years of conflict.

There are still two very active groups to keep up to date: https://t.me/housers_foro and https://t.me/housersCom

We have not received anything this month either from the defendants Grupeer and Wisefund.

Neither has issued any statement and there is no news about them.

In reference to Envestio, a possible agreement with the debtor Spade has been extended this month.

New material has emerged implicating Cevers for misappropriation in the Kuetzal case.

Sensitive information has also been requested from a major bank to trace the origin of several transfers.

In addition, a bankruptcy petition has been filed in Central Europe, and there could be developments in the Russian bankruptcy office next month.

Finally, there have been a number of developments against Monethera and some of its debtor companies.

In addition, a criminal complaint has been filed against a former manager of the company for misappropriation.

Here’s the current status of my investments:

You already know that you can see the screenshot of each platform, the profitability tables, latest news and the summary of each one in each “Crowdlending” tab or here. 

CROWDESTOR’S CURRENT SITUATION

Month of little joy

Updating my portfolio: January 2021

Yes, a month of little joy. January is usually a very irregular month and this year has been no exception. 

Despite this, I sign another 367 euros of profitability from just over 27,000 euros invested in some European platforms, because the only Spaniard – Housers – has defaulted on its payment commitments for the third consecutive month. 

This month I decided to report Housers and promoter Construbecker to the Courts of Madrid, so I had to advance to the law firm an amount that I have been able to meet between the emergency fund and the withdrawal on several platforms.

Here are the details of the current state of investments:

Mintos gave me back 2 euros this month of the 981 euros in the process of recovery and I only have 1€ invested. They have updated their Risk Scores, which you can see below. 

At Peerberry I have increased my portfolio because they continue to give me enormous confidence. In 2020 they increased their portfolio by almost 46% compared to the previous year and remain unpaid since its inception in 2017.

Viainvest is suffering from the lack of publication of projects, but continues to evolve with firm pace and has been able to generate 8 euros this month. 

I continue to be very happy with Robo.cash and this month has rented 103 euros for the December promotional campaign and several project returns in Singapore.

Crowdestor has half-fulfilled this month. Despite having paid 231euros in interest, there are project management that continues to be delayed: Wholesale Food Trade (payment commitment at the end of 2020), Mafia Stars (delay in its full payment of capital), Kabuki (waiting for a vote from the first week of January), among others. 

Wisefund launched in December a new project – Mobile Ads Operations – which today has reached 48% funding, but in January it has launched another one that has already been funded –App Acquiring Venture -. 

Investors are still behaving badly. I remain unanswered to an email sent on January 25 regarding the lack of news since last July of the Dutch Flower Exporter project:

In Lenndy I stopped the autoinvest on December 29 because they hardly launch projects and the ones I have are all behind. My intention is to keep removing everything invested until I stop hearing noise from this platform. 

For the time being, the First Finance operator remains suspended. Let’s hope they meet their commitments on the projects already funded, because I have almost half of them. The good thing is that everyone has a vehicle as collateral. 

In addition, from 1 February they will have a secondary market in which projects of this operator can be sold. 

IUVO and Lendermarket have reached one month and the result is being adequate, without great joy or disappointment. Both already have some delays, so I’ll be able to check the operation of their Buyback. I’ll tell you more details below.

At Bondster I have obtained 9 euros this month and it is still the platform that offers the most profitability, however I will reduce my portfolio.  

Reasons? Since January 1, its CEO has left management and since March 1 its conditions will change, in which users will not be notified of new changes in their contractual terms. None of them I like.

In addition, with the money I withdraw from Bondster I will start investing in two new platforms that I am studying in detail: Estateguru and Evoestate.

In relation to Crowdestate nothing has changed:they still do not pay interest, return capital or update their latest news published in December, announcing that a bankruptcy committee had been assigned for the Baltic Forest project that would already inform us on some date not defined. 

Grupeer seems to have disappeared from the map since early November and from the Telegram group it’s all assumptions. 

On the other hand, Bulkestate continues to comply and in January they have published three projects with lower profitability that are financed in a few hours thanks to their stalwart.

Once again, Housers has disappointed its thousands of investors/affected in a month in which they have not paid a single euro. Therefore, a few days ago I filed a complaint against them and the promoter for the 70,000 euros that I have invested in two projects, although I know that a total of ten have been reported. 

More and more of you affected by this platform have contacted me from all over Europe, mainly Italy, Portugal and Spain, where the projects are located. This month we have had some news that I share with you below.  

In reference to Envestio, Kuetzal and Monethera it seems that good news arrives, some of which I explain later.

Continue reading “Month of little joy”

My portfolio update: December 2020

Month of satisfaction and disappointment (say Housers)

That’s it, month of satisfaction (Crowdestor and Robo.cash) and disappointments (Housers and Mintos), because December has been less profitable than October and November, mainly because Housers has ignored its payment obligations and has contributed nothing to the 636€ generated this month by the rest of the platforms. 

Below you can see the profitability of each one in detail:

Mintos has been a disappointment for another month, but I have paid back 39 euros and I am below the 1000 euros invested. At this rate I will forget about Mintos in two years. I now have only 6.5% invested (60 euros), as the rest (920 euros) is still in the process of recovery. 

Peerberry remains constant, maintaining a high number of available projects which last month reached the milestone of EUR 22.3 million funded.

Another 9 Euros were given to me by Viainvest in December, which continues to consolidate as a safe and smooth bet. 

This month, Robo.cash was the main attraction, contributing 286 euros in interest thanks to the investment campaign in projects in Singapore, which gave me 226 euros. 

As usual in Crowdestor, they have had a month with lights and shadows. The lights: the Mafia Stars project has made an advance of 21% on the capital to be delivered on 6 January and the Saapio project has been brought up to date with payments.

The shadows: five projects are more than 90 days overdue, although we have a commitment to pay for one of them (Forestland Investments) from January, another without news since early November (Inch2) despite the publication by Crowdestor and, as a novelty, I have acquired in the secondary market the project Wholesale Food Trade with an amount of 34€ to try.

In spite of this, this month they have contributed 320 euros very welcome. Furthermore, they have launched a vote to accept or not the proposal of the promoter of the Consumer Loan Portfolio Acquisition project, which seemed to be a joke.  

Regarding Wisefund, they have surprised the market by launching a new projectwhen we all anticipated the probable end of the platform. Last attempts? It should be remembered that they are unprincipled people who have not informed their investors for months and do not provide a solution to their short-term defaults.

In Lenndy I have stopped the autoinvest since December 29th because they hardly launch any projects and I have 35 out of 38 projects delayed.In addition, new investors will not be able to registeruntil mid-January, so I have deleted the bonus link to avoid any inconvenience. December has contributed only 4 euros, when previously it was no less than 10 euros a month.

This month I sold my scarce Swaper portfolio, as they could hardly publish any projects. It has been an 11-month test that has not convinced me and I will not return to them until they increase their available projects. 

On the other hand, for almost a year now I have been following Iuvo and Lendermarket, in which I have started to invest at the end of December with small amounts to see their evolution and test them. Below and in the Crowdlending section I leave you more details. 

Bondster has given me €13 in December, which I hope will continue to work in the same way: high profitability, immediate returns and strict application of the Buyback. 

This month, the developer of the Baltic Forest project, whose first meeting of creditorswas held on December 21, has been declared bankrupt. Crowdestate has informed that a bankruptcy committee has been appointed, which will have to analyse the situation and make claims on behalf of the debtors. 

Grupeer published their latest news on the blog at the beginning of November, which I don’t know if it’s good news, and Bulkestate continues at their pace, slowly but surely, working quite well, even though they have only published two projects this month that have celebrated their 4th anniversary.

As a disappointment, Housers has not ceased to surprise us with a new lack of payment, in which they have failed to comply with the agreementwe reached three months ago on the Albufera III and Torres de Paterna projects and of which they only paid for the first month.

They did the same in the previous agreement, signed more than a year ago, so they are fooling investors again. How long will the CNMV (National Securities Market Commission), allow Housers to do this?

The President of the Association of People Affected by Housers has published a table with ALL the delayed projects and they are MANY. You will be amazed… Here you can see it in detail. 

Finally, on Envestio there have been some new developments, while Kuetzal and Monethera have hardly changed from last month. You can see them all below.

And here are the details of each platform:

Continue reading “My portfolio update: December 2020”

Updating my portfolio: November 2020

Month of joy and hope

That’s right, month of joy and hope. So it was November: a good month with 967 euros obtained from interest,but with two sides. The joy represented by Crowdestor and the hope that Housers would fulfill his commitments.

In short, both Housers   and   Crowdestor some outstanding   payments have been left along the way, although the former I have little confidence.

The commitment made according to the payment schedule proposed by Housers lasted one month, so we are returning to the usual pattern of delays in payments. 

Mintos continues to disappoint in its figures, as its profitability has been a few cents, since I have only invested 10%of my funds, since the remaining 90% is in the process of recovery. 

Peerberry   hascontributed the same 4th last month and   it still works well. They transfer confidence in their parent company Aventus Group in Poland, despite pandemic regulations.

Viainvest has contributed this month with 9€ who know me to glory. Its parent company VIA SMS Group has submitted its excellent consolidated reports for 2019, with a net profit of almost 400,000 euros.

Robo.cash   surprised me this month with 31€ profit and continues to offer its usual stability. Now that you have completed a project in Crowdestor and taking advantage of the additional 1% that you offer until December 10, I will reinvest the entire amount in them.   More information here.

Crowdestor’s had a irregular month. On the one hand, I have been returned to the entire Minst 19 project with 13.4% interest meeting the date. But, on the other hand, seven projects accumulate with delay,some more than three months: Kabuki at Salaris, Foresland and Fertilizer Export. In the first two, news was expected at the end of November that have not arrived.

In any case, it has contributed 162 euros that are very welcome and have continued to inform investors conveniently about the situation of each project. 

Lenndy has contributed 11 euros in November and I remain confident in his good work to maintain a very diversified portfolio   .

For its part, Bondster has helped me with another 11€ and I removed Rapicredit from my Autoinvest because I was accumulating many projects of this originator and I want to diversify. On the other hand, www.todocrowdlending.com appear in the TOP 3 of more profitable platforms. 

Bulkestate   has slowed the pace this month and has published only three projects, but it still offers enormous security and is corroborated by its stalwart investors.

At Swaper I am   very unhappy with their   severing of projects and I have only one euro invested that I will repay in mid-December along with the rest of the balance, when the last project is over.

Crowdestate has been personed to find out the details of Baltic Forest’s bankruptcy petition. In short, they are looking for a buyer urgently, but they convey a certain peace of mind by ensuring that they have the necessary guarantees. The 2,600 euros invested are already 8 months behind schedule and, according to their own forecasts, there are still 73 months to go. 

Grupeer   has published the legal actions it will take against originators who are not fulfilling their existing contracts, continues to manage the collections of 10 million euros through Recollecta and announce that they are still interested in continuing their company.

Finally, after several emails,   Wisefund has informed me that action is being taken to recover the unpaid amounts from the Dutch Flowers project through the company Cis Debt Recovery Solutions, but they do not know how long this will take and the amount to be recovered. It is possible to sue them, but this has not been confirmed to date. 

In relation to Housers, there is good news and bad news, since they have paid everything corresponding to the payment schedule of the Marismas de Odiel project, while in Torres de Paterna and Albufera III they paid only in October and already have missed their second month. Housers informed me that they will try to enforce the promoter’s payment of two months before Christmas, but their confidence is also minimal. 

They have also reactivated the paymentsof Pensamiento and Juan de la Encina, which since March and December were not paying interest despite being both rented. Below is the status of all the projects. 

The platform of those affected by Housers’ non-payment is very active and a few days ago dozens of documents were presented before the National Court accrediting Housers’ lack of contractual compliance.

Finally, about Kuetzal, Monethera and Envestio there have been some news that you can read at the end of this post. 

Here’s the table with the percentages and returns for each platform this month:

And here’s what’s new in the detail of each platform:

Mintos (extended version)

Although their results in my case are not satisfactory, they continue to have a loyal legion of followers who have full confidence in them, having reached 7.2 million euros in their self-crowdfunding campaign with more than 7,000 investors.

With regard to the outstanding payments, I am enclosing a screenshot of my current situation:

It seems that Finko Armenia, where I have the bulk of my investments in recovery, could pay back all the amounts until December 2022. For the time being, this last month they have returned 120,000 Euros out of the total of 17 million that are still pending, as you can see below:

It seems that Capital Service and Express Credit will be the hardest to charge. What I most reproach Mintos for is that, until the moment when the platforms I invested in failed, they had been rated between A- and B.

Mintos now has the new Mexican originator “Podemos Progresar”, which offers returns of up to 12%.

Continue reading “Updating my portfolio: November 2020”

Updating my portfolio: September 2020

Month of high hope

Month of high hope, yes. Although they have only been half-fulfilled,because I expected many charges from Crowdestor and half of them have been made. The ones that did not materialize in September are 91€ of the Saapio project and 459 euros of the Inch2 project.  

If the deadlines had been met, the amount of profitability this month would have been 1,003 euros, but due to these delays, the actual total has been 448euros, which is not bad either. 

Since August, another 186 euros derived from the Forestland Investments and Kabuki projects have been pending payment.

Finally, from May and July respectively, the projects already completed Fertilizer Export and The Catch, with amounts of 1,494 euros and 1,466 euros, are pending.

In Mintos I have returned 13% of the portfolio in September and will continue to lower my exposure with them because I have 882 euros of 1027 euros in recovery and only 141 euros producing some profitability. They have several new features that you can see below. 

Peerberryhas barely made a profitability this month because most projects will be completed in October. I have increased my portfolio by 200 euros and continue to work firmly, even increasing the profitability of some projects.

At Viainvest I have increased 300€ my portfolio in projects to 12% and will remain one of my platforms to consider in the coming months.

On August 31st I increased 2,000 euros in Robo.cash,taking advantage of the promotion to 14% that is not in force today.

Lenndy also received 200 euros to increase the portfolio to the current 1,200 euros and has contributed me 17 euros in interest. 

I am still very satisfied with Bondster,although this month I have half the projects with delays,but they always apply their Buyback that works perfectly. 

From all other platforms – Bulkestate, Swaper, Wisefund, Crowdestate y and Grupeer – you can see below all the details, which are not few. I also update the latest advances in the processes against Monethera, Kuetzal and Envestio. 

And to finish, unlike in my previous publications, I will tell you what’s new in Housers:

Fifth consecutive month without paying me any interest or repayment. It appears that they will start to pay back the interest of two projects and another one could be incorporated if the votes at the shareholders’ meeting dictate it that way – until I see it on my account I won’t believe it –the project to be sold in June has been dismissed and Housers has decided that you no longer need to have your customer service as easy as that. 

Two months ago they announced to all the media that they were moving to super-offices. Well, just out of curiosity I stopped by to see them and it is a co-working space. Will there be any truth to what they say?

As of September 29, I’ve paralyzed Robo.cash, Lenndy and Bondster’s Autoinvest to take care of a family member’s mortgage with the money they report to me.

Here I show you the monthly profitability chart obtained in September:

And here’s what’s new in the detail of each platform:

Mintos (extended version)

It remains P2P’s number one platform, with 92 million euros invested, followed by Peerberry with 14 million.

But I’m not exactly happy with Mintos. The 882 euros that are in arrears could be charged in a period of 10 months, according to the information extracted from the different originators.

Continue reading “Updating my portfolio: September 2020”