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: email@example.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.