PeerBerry review 2020
Go through our PeerBerry review, and see if the platform is for you.
Overview of PeerBerry
We find the return compared to the safety good.
The PeerBerry P2P platform is very beginner friendly.
PeerBerry has made some good safety measures.
Investors get an average return of 12.06%.
We Don’t Like
Summary: We like the PeerBerry platform A LOT. They use reputable loan originators and have a pretty solid company behind them. The investments are protected by buyback guarantees and are further secured by a unique group guarantee. If you invest large amounts of money, you might also be able to benefit from PeerBerry’s loyalty rewards. However, there is still a drawback in the form of a missing secondary market. But compared to a lot of competitors, we are quite impressed with what they have to offer.
PeerBerry is free of charge for its investors
Last updated: October 20, 2020
Introduction to our PeerBerry review
PeerBerry is one of the largest P2P lending platforms of its kind in continental Europe with tens of thousands of investors.
But how good is the platform, and how does it compare to other P2P platforms? We decided to investigate.
So if you are considering using the platform, we recommend that you read this PeerBerry review. By doing so you will quickly find out what we like and dislike about the platform.
Please be aware that the content of this review is 100% based on our own opinion. Nothing in this PeerBerry review should be considered as investment advice.
To quickly learn more about a particular topic, please use the navigation below. You can, of course, also choose to read our entire PeerBerry.com review.
With that out of the way, let’s take a look at PeerBerry.
Learn about the following in our PeerBerry review:
What is PeerBerry?
PeerBerry is a Peer-to-Peer lending platform mainly focused on short-term consumer loans. However, you will also be able to find loans that are more business-oriented.
Like a lot of other P2P platforms, PeerBerry is based in Riga, Latvia. They launched their platform on November 1st, 2017.
Since then, they have grown their investor base to over 27,000 investors. But as they have a relatively new platform, they are still one of the smaller P2P lending sites for investors out there.
PeerBerry is a product of Aventus Group, a mature lending company operating in multiple European countries. Originally, Aventus Group used Mintos in order to attain liquidity for more loans. They did so for a few months back in 2016. However, the company quickly decided to create its own P2P lending platform.
With the minimum investment of €10, you can start investing on the platform.
How PeerBerry works
PeerBerry has a lot of loan originators from Aventus Group, Gofingo, and Lithome connected to its platform.
These loan originators can make loans, they issue to consumers, available for investment on PeerBerry’s website.
Here, investors like you can then invest in the loans and earn a return on your investment.
When investors invest in loans via PeerBerry, the lending companies then get more liquidity. This means that they can now go out and issue more loans and thereby growing their business.
You might wonder how the lending companies make money by letting you invest in the loans. But generally they do so by letting you invest at a lower rate than what they are actually getting.
The loans you can find on PeerBerry’s website originates from countries like Denmark, Poland, Ukraine, Kazakhstan, and many more.
In the following part of this PeerBerry review, we will go over some of the main features and functionalities of the platform.
1. Buyback guarantee
All the loans listed on PeerBerry are secured with a buyback guarantee – which is an obligation for the loan originator to buy back a loan if it doesn’t get repaid by the borrower.
On PeerBerry, the buyback guarantee is activated if the borrower is more than 60 days late on the repayment schedule.
Here, the lending company behind the loan will have to buy back the loan from you including paying for all accrued interest you would have gotten from the investment.
Even though there is a buyback guarantee on the loans, it doesn’t mean that the investments are 100% safe.
As the buyback guarantee is provided by the loan originators, the PeerBerry buyback guarantee is only really useful as long as the lending company stays in business.
So if an individual loan originator goes bankrupt, your buyback guarantee is essentially gone.
2. Additional Group guarantee
In addition to the buyback guarantee, most loans are covered by an additional Group guarantee that will protect you against the financial difficulties some of the loan originators will inevitably run into.
Basically, the Group guarantee is a guarantee that forces the other loan originators in the group to help a struggling loan originator.
So let’s say that a loan originator in Aventus Group is facing difficulties, then the other lending companies within that specific group will have to help that particular loan originator.
The only time where the additional Group guarantee won’t be helpful to you is if the whole group is struggling.
3. Detailed loan descriptions
On the platform, you will find detailed information about the loans from the loan originators themselves:
You can use the information provided to make your investment decisions. Alternatively, you can also use their auto-invest. This way, you can automate your investments completely.
4. PeerBerry auto-invest
Although it is possible to invest manually, you can also choose to set up auto-invest. In this way, you can invest more in a passive way. It is also for this reason that we ourselves prefer to use auto-invest in our own investments.
To create an auto-invest strategy, tap “Auto-Invest” in the navigation bar over at their website. Then press “Create new Auto Invest Portfolio” to get started.
You will then be greeted by this screen, where you can get started making your automatic investment portfolio:
For your auto-invest strategy, you need to choose a name and indicate how large the portfolio should be.
In addition, you can make other adjustments such as choosing how much of the remaining loan term should be left, and at what interest rate you want to invest. You can even sort in which loan originators and countries you want to invest in.
Do you only want to invest in a buyback guarantee loan? Do you want to reinvest automatically? All this, and more can be done with PeerBerry.
5. PeerBerry loyalty rewards
A thing that sets PeerBerry aside from many other platforms is the fact that they have a loyalty program set in place.
Basically the PeerBerry loyalty program is made to reward investors that invest a lot of money on the platform for long periods of time.
In order to be eligible for the base level of the loyalty program, you will have to do the following:
- Be a member of PeerBerry for 90 days
- Have at least €10,000 on the platform
The rewards you can get from the loyalty program range from 0.5-1.0% and is dependant on what loyalty level you are on.
There are three levels of PeerBerry’s loyalty program; silver, gold, and platinum:
Silver: If you invest a minimum of €10,000, you will get an additional +0.5% on your investments.
Gold: If you invest a minimum of €25,000, you will get an additional +0.75% on your investments.
Platinum: If you invest a minimum of €40,000, you will get an additional +1% on your investments.
Would you like to try out PeerBerry? Then click the button below to visit their website where you can create an account:
What rate of return can you expect?
At PeerBerry, investors get an average return of 12.06%. As this is the average return, you will probably get a return very close to this.
Returns like these are never without any risks. We will go more into detail with this later in this review.
Who can invest via PeerBerry?
At PeerBerry it is both possible for individuals and companies to invest. If you want to invest via the platform, you must meet the following requirement:
- Minimum age of 18 years
If you fit this requirement you can probably invest via PeerBerry (visit website).
Initially, PeerBerry was only available to European investors. But they are now increasingly available for international investors as well – in fact, they have investors from over 70 countries.
You can see some of the countries where investors on PeerBerry are from marked in green on the map below:
Due to the fact that the platform is from Europe and investments are made in EUR, most investors are from within the EU.
However, the platform is also gaining traction in places like the United States, Canada, Russia, Australia, South Africa, and the UK.
If you are not from one of the countries marked in green, it doesn’t mean that you can’t invest with PeerBerry.
Are you in doubt about if you can invest with PeerBerry? Simply reach out to the team with the contact information found here.
Opening an account
Opening an account with PeerBerry is really easy. In just 3-4 minutes, your account is set up and ready to go.
Then you can simply transfer money to your investment account. You can do that with TransferWise, or with more traditional methods like a SEPA transfer.
From here, you can set up an auto-invest strategy, or choose to invest manually in the loans you desire.
- Create an account
- Add funds to your account
- Select loans and invest
As you can see, there are only a few requirements for investing at PeerBerry. Furthermore, it’s really simple to start investing.
When your account is ready to go, and you have invested your funds, you can also track your investment portfolio and returns.
Do you meet the requirements for creating an account? Simply click the button below, and sign up today. That way, you will get from reading this PeerBerry review to actually investing yourself:
Is PeerBerry safe to use?
When investing your money through an online platform, it’s important that you are protected. In this PeerBerry.com review, we have therefore looked at some of the safety features, the platform offers to its users.
When dealing with loans, there is always a likelihood that the borrower cannot repay. It does not matter if you lend out the money yourself, or if you take over an existing loan, as you do on PeerBerry’s platform.
In order to counter this problem, there is a buyback guarantee on the loans on PeerBerry.
A buyback guarantee is basically a guarantee that the original issuer of the loan will repurchase the loan from you if the borrower cannot repay the loan.
The guarantee comes into effect in the case that a borrower is over 60 days late on repayment of the loan.
On PeerBerry’s website, you can see which loans have the guarantee, and then invest accordingly.
If you want to invest passively, you can also set auto-invest to invest only in loans with a buyback guarantee.
How solid is PeerBerry?
PeerBerry is owned by Lithuanian based payday lender Aventus Group, which has been profitable since its first year of operations in 2009.
Going forward to today, the group has seen growing numbers on their financial statements as well as the markets they operate within.
All in all, it is a pretty solid company standing behind PeerBerry.
PeerBerry itself also seems like a very trustworthy platform. All things needed are properly disclosed on their platform.
Among other things, you can find annual reports for 2018 and 2019, on the website, that both confirm that PeerBerry is a solid and profitable company.
Conclusion of our PeerBerry review
To conclude this PeerBerry review, we want to state the fact that we like their platform A LOT. We believe that it is a platform that we will see thrive in the coming years.
Having an excellent platform and a great team, we believe that PeerBerry will scoop up some of the bigger players market share – especially as they continue to add new loan originators to their platform.
With reputable loan originators, a pretty solid company behind the platform, and a platform that works like a charm, we believe that investing on PeerBerry is a reasonably safe choice.
The platform does also has some unique features like its additional Group guarantee and the loyalty program which are contributing to both a safer and more profitable investing experience for investors at PeerBerry.
Have you decided to invest after reading this PeerBerry.com review? Then simply click the button below to get to their site. From here, you can sign up as an investor in just a few moments and start investing on the PeerBerry platform: