Fast Invest has been apart of my portfolio for the last 11 months. It was actually one of the first platforms I added.
In this review of Fast Invest, I will go over the features of this platform. What I like and don’t like. And of course how you can get started and set up your auto-invest.
Fast Invest Review (November 2019)
Fast Invest is fantastic for beginners. It is easy to get started with investing on the platform. The returns are pretty good.
They have a moneyback guarantee, therefore you can always get your liquidity.
However, they don’t tell us who the loan originators are. We know the name of one of them. This brings down investment protection even though the loans have a buyback guarantee.
What is Fast Invest?
Fast Invest is a Peer To Peer lending platform. The company was founded back in 2012, but the product launched in 2015. Since then, they have achieved over 30.000 registered users and the total investment value of over 13mil. euros.
From 2012 till 2015 the company was named Big Credit Limited.
What returns can I expect?
I can’t seem to figure out what Fast Invest states as the platform’s average. I average 13.18% with an average term of 7.3 months. I’m happy with the results and one of the reasons why I could consider to increase my funds. Nearly as good as on Grupeer, but a better return than Mintos.
Getting started on Fast Invest
Getting started on Fast Invest is really easy.
First, you need to open a free account on their website. This doesn’t take more than 5-10 minutes. When you’ve signed up you will need to verify your identity by uploading identity documents – just like every other platform.
Once your account is created and verified, it is time to deposit funds to start investing. You can also browse the loans available.
Depositing funds are very easy. You simply just follow one of their deposit options. I personally have used TransferWise, which went smoothly. They had a problem verifying my funds. If I were to add more funds I would Revolut.
Setting up Auto-invest
Like many other platforms, Fast Invest offers an auto-invest function. Let’s take a look at their auto investor.
I have multiple auto-invest portfolios. I look for loans above 13% with a max term of 12 months.
My second and small portfolio is loans with interest above 12% and a max term of 12 months.
Here is an overview of my main auto-invest portfolio:
I only invest in loans with buyback guarantee.
Fast Invest doesn’t have a secondary market where you can sell your loans to get out earlier.
However, they have a moneyback guarantee. This allows you to sell the loan to Fast Invest. They will within one business day receive the full initial amount invested. But there is a catch.
You will also lose both accrued and future interest. You can get your investment back, but with absolutely no interest earned.
My result with Fast Invest
You can follow my result from my Fast Invest portfolio page here.
My current interest average is 13.18%. I’m really happy with this result. If Fast Invest disclosed the loan originators I would add more funds to my account.
Should you invest on Fast Invest?
I can recommend Fast Invest, with a catch. They have only disclosed one of the loan originators. Therefore there is an added risk when we don’t know who the other loan originators are.
The platform is beginner-friendly and has decent returns.
Alternatives to Fast Invest
A really great alternative to Fast Invest is Grupeer. Grupeer offers about the same in returns with a buyback guarantee.