Fast Invest Review 2019
Check out our Fast Invest review, and see if the platform is for you.
We find the return compared to the safety favorable.
The Fast Invest platform is very beginner friendly.
Fast Invest has made a lot of safety measures.
Investors get an average return of 9-16%.
We Don’t Like
Summary: Fast Invest is one of the most beginner friendly P2P investing platforms on the market. They make it possible to start investing with only 1 euro. If you regret any investments, you can sell back the loans with the MoneyBack guarantee, whenever you want. The security on the platform is also quite good with loan originators having skin in the game, 2FA account login, buyback guarantee on loans and much more.
It’s completely free to use their platform
Last updated: April 28, 2019
Fast Invest review 2019 – Is it safe?
The P2P lending platform Fast Invest has over the past years gained a fair amount of interest from investors across Europe. As a result, we have decided to investigate how secure the platform really is.
Are you considering investing through the platform? Then we recommend that you read this Fast Invest review in order to get a better feel for their company and P2P lending platform. We will of course make our best assessment of how secure the platform is, and maybe also share a tip or two with you.
Our FastInvest.com review ended up being a bit long. Therefore, you can advantageously use the navigation below to find exactly what you want to know more about. Of course, you can also read the review from one end to the other. However, before reading the review, we will quickly point out that the review is only an expression of our own opinion. Therefore, you should not consider anything in this Fast Invest review as financial advice.
Learn about the following in our Fast Invest review:
What is Fast Invest?
Fast Invest is a visionary European company that wants to make it easier for private investors to invest. Through the crowdlending branch of their company, they focus primarily on consumer-based loans. However, they are working to add more diversification opportunities on an ongoing basis.
The loans offered on the platform are 100% pre-funded by loan originators and originate from European countries.
Fast Invest is registered in the United Kingdom. However, the majority of daily operations take place from their headquarter in Kaunas, Lithuania. In addition, Fast Invest also has some smaller departments in the UK and Italy. Overall, the company employs over 20 people, which among other things takes care of platform development, marketing and support.
The company and the platform launched in 2015, and have since then have achieved phenomenal growth within the FinTech area. Compared to other Peer-to-Peer lending sites, Fast Invest has a reasonably large investor base with over 30,000 registered investors.
What rate of return can you expect?
At Fast Invest’s platform, it is possible to get a return of 9-16%, depending on which loans you choose to invest in. But since you can choose your desired risk/reward ratio in relation to the loans, it is very individual what the return is for each investor on the platform.
Do you have an even higher risk appetite? Then take a look at our Envestio review. At Envestio it is possible to invest your money in business projects and also getting an even higher return. The loans offered by Envestio probably also have a slightly higher risk, than the loans offered by Fast invest.
Who can invest via Fast Invest?
Both individuals and companies can invest their money through Fast Invest. Therefore, you can also use their platform if you want to invest through your business.
If you want to become an investor on Fast Invest, you must meet these few requirements:
- Being at least 18 years old
- Having a valid email address
- Having a bank account in your name within the EU
- Being verified with a national identification card or passport
If you meet the requirements above, it is possible for you to invest via Fast Invest. To get started investing, just do the following:
- Sign up as an investor at Fast Invest
- Add funds to your investment account
- Choose a loan from the loan list and invest
In order to withdraw your funds, you will have to verify your identity with either a national identification card or your passport.
If you want to invest via a company, it is possible on the Fast Invest platform. When you register a business, you must, of course, comply with the requirements of ordinary investors. However, when registering a legal entity, it must be done by contacting Fast Invest directly on their email.
Would you like to sign up as an investor at Fast Invest? Then press the button below. From here, you will be taken directly to their platform, where you can create your investment account. It only takes a few moments to sign up:
How safe is Fast Invest?
The security of Fast Invest primarily depend mainly on 4 things; how safe the investments are, how trustworthy the loan originators are, how secure the platform is and how solid the company is. In the following, we, therefore, take a look at these things one by one.
How safe are the investments?
As the first safety-related thing in this Fast Invest P2P review, we have taken a look at how safe the investments you can make on the platform are. We will, therefore, take a look below on what measures the company has taken to secure the investments on their platform.
Loan originator risk
On Fast Invest’s platform, you can find different loans to invest in. These loans come from several different loan originators. It is therefore important to know how safe these loan originators are.
Unfortunately, there is currently little information about the loan originators.
Due to a lack of transparency about the company’s loan originators, in our overall assessment of Fast Invest, we have assumed that the loan originator risk is greater than it may actually be.
Fast Invest has promised that there will be more transparency in this area in the future. At present, however, it is not changed, as it will require a re-negotiation with the respective loan originators. But when the existing contracts expire, new contracts are made with full disclosure.
Skin in the game
All loans at Fast Invest are 100% pre-funded by the loan originators. In order to align loan originator and investor incentives, it is required that the loan originators retain at least a 5% stake in the loans. This means that if a loan originator has a €1,000 loan, they must keep at least € 50 of the loan themselves. The rest of the loan can then be open for you to invest in.
This ensures that the loan originators have skin in the game, and thereby only underwrite good loans.
BuyBack and MoneyBack guarantee
All loans at Fast Invest are protected with their BuyBack and MoneyBack guarantee.
The BuyBack guarantee is useful in case a borrower cannot repay his loan. If the loan is delayed for three or more days, the guarantee will cover the difference. The loans with the BuyBack guarantee are marked in the loan list.
The MoneyBack guarantee covers you if at some point you do not want your loans anymore. In that case, you can sell your loan back to Fast Invest during one business day.
You can use the MoneyBack guarantee by choosing the loan you want to sell in the My Investment section. Here you just press sell. Then, during one business day, Fast Invest will take over the loan and deposit funds into your account.
However, you must be aware that if you choose to sell your loan, then you will lose the interest you have earned so far on the loan. You will only get back your initial investment in the loan.
How secure is the platform?
As part of our FastInvest.com review, we have also taken a look at how secure the platform is itself. Here, Fast Invest has made some great security measures.
One of the most important things, when you have an investment account online, is that it is properly protected. One does not want strangers to have access to their account, and thereby abuse one’s money.
Here two-factor authentication probably is the best way possible to protect you from extraneous login attempts to your account. Therefore, we took a look at whether it is possible to make use it for account login, or not.
Here we found that it is possible to use two-factor authentication for account login on Fast Invest.
In addition to two-factor authentication, a number of additional security measures have been taken on the platform.
Among other things, users can only send money to and from bank accounts in their own name.
In addition, Fast Invest also has an automatic system that checks their users’ activity log. If situations arise with suspicious behaviour then a specialised team of selected security experts in the company investigates the situation. If fraud is suspected, the account is deactivated.
Last but not least, customer service will also contact their users to verify transactions if a transaction exceeds a specific amount of money.
All in all, a lot of security measures have been made on the platform to protect you as an investor.
How solid is the company?
Over the years, there has been some controversy with Fast Invest as a company. That’s why we, in this Fast Invest review, have taken a look at how solid the company behind the platform really is.
Through a conversation with a representative from the company, we found that necessary measures had been set up to protect investors’ money in the event that Fast Invest goes bankrupt. Here the company will distribute all loans and investments to appropriate authorities.
What you can do to invest safely
Fast Invest has done a lot to make it safe for their investors to invest through their platform. Of course, there are some things that could be better. This is almost always the case with relatively new FinTech companies. But to make it more secure to invest via Fast Invest, there are actually some things you can do yourself:
- Invest in loans with a buyback guarantee
- Ensure that you diversify between more than just a few loans
- Invest in loans from more than one loan originator
It is a great idea to invest in buyback guarantee loans. This way, you ensure that your funds are secured if a borrower cannot repay.
In addition, it is super important that you invest in more than just a few loans. Because even if you invest in a buyback guarantee loan, keep in mind that a guarantee is only as secure as the one behind it.
Last but not least, we also believe that it is a good idea to invest in loans from several loan originators. If something goes wrong with one of the loan originators, you do not have all your eggs in a basket.
It may seem like a lot to concentrate on at once. However, here you can advantageously use Fast Invest’s auto invest function. It makes it easy to invest more safely.
So how you use the platform actually influences how secure an investment experience you will get.
Set up a Fast Invest auto invest strategy
One of the best things about Fast Invest is the possibility of setting up an auto invest strategy. The auto investing function gives you the opportunity to invest in loans, without having to spend time cherry picking loans on an ongoing basis.
Our advice: In our opinion, an investor’s time is better spent elsewhere than by selecting loans on a daily basis. Therefore, we recommend that you set up an auto invest strategy.
If you want to use auto invest, you can either choose one of Fast Invest’s predefined strategies or make your very own. You can choose between beginner, professional, expert or custom portfolio.
Create an auto invest strategy:
It is obviously easiest to choose one of the predefined strategies. But if you do, please be aware of how much you invest in a single loan via the strategy you choose. Whether your investment portfolio is small or large, it is important to diversify properly. So make sure to check if you will get enough loans in your portfolio, based on the strategy you choose.
You can also choose to make your very own investment strategy at Fast Invest. In fact, we recommend that you do so. Just choose to make a Custom Portfolio. That way, you get full control of how you invest your money. Below you can see an overview of how to make your Custom Portfolio:
Whether you choose a predefined auto invest strategy or make your own, it is clearly advisable that you do one of those things. This way you can automatically reinvest the interest you receive on your account. Thus, you can best take advantage of the compound interest effect, and see your investments grow even faster.
Do you want to know more about Fast Invest auto invest? Then check out their website.
Conclusion of our Fast Invest review
We believe that Fast Invest is a reasonably secure platform for investing your money. However, there are some small things that could use some more transparency. For example, a P2P lending platform like Fast Invest should disclose which loan originators you take over the loans, as is seen from, among others, Mintos. Unfortunately, they do not do so at the time of writing. Therefore, this also resulted in a reduction of our overall rating for Fast Invest.
Besides lack of transparency about who the loan originators are, we do not have much to put a finger on in this Fast Invest P2P review. The platform is both user-friendly and the risk/reward level is pretty great.
Do you feel that the platform is for you after reading our Fast Invest review? Then click on the button below to be taken directly to their website. Here you can create yourself as a user and start enjoying the benefits of the investments you can make at Fast Invest: